New Delhi, Delhi, India, Saturday, April 20, 2013 — (Business Wire India) — Indian School Finance Company (ISFC) , a Non-Banking Finance Company, engaged in the business of lending to educational institutions and entrepreneurs managing such institutions opened its Delhi office here today. This is company’s 10th office in the country. The company extends loans for capacity building and quality improvement. The company has dual objective to assist in creation of capacity building through social infrastructure, thereby enabling students to enjoy access to quality education and also to promote financial inclusion by focusing on schools serving urban low income segments. The company has currently extended loans to about 500 schools and sees the market as a large untapped potential.
Speaking on the occasion of the launch Mr. Neeraj Sharma, CEO ISFC commented , “We are happy to expand our footprint in Delhi. This office will help us in reaching out to schools in Delhi NCR in particular and North India in general who are interested in building capacity and at the same time will enable students of this region to access quality education.”
As per a study conducted by CARE Research private schools are expected to grow in the country from 2.7 lakh during FY12 to 3.2 lakh during FY16 at a CAGR of 4%. Of the same, the number of private unaided schools is expected to rise from 2.0 lakh during FY12 to 2.4 lakh during FY16 at a CAGR of 4.9%.
“The company is looking at promoting financial inclusion by catering to school through focus on urban low income segment” Mr. Sharma added .
Currently ISFC operates through 9 locations across the states of Andhra Pradesh and Karnataka and plans to spread its footprint pan India. The company has recently started its operations in Northern States and the state of Maharashtra.
Commenting on the nature of the loan, Mr. Sharma said “The loans are provided by the company to schools to enable them to expand their delivery capability by improving their infrastructure facilities for instance construction of additional floors / wings within existing school premises, setting up computer labs / facilities, science laboratories, adding basic amenities, providing finance for implementation of new teaching methodologies like digital classrooms, experiential learning and other similar facilities, leading to a qualitative and quantitative improvement in their delivery model.”
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About ISFC
The loans are provided by the company to schools to enable them to expand their delivery capability by improving their infrastructure facilities for instance construction of additional floors / wings within existing school premises, setting up computer labs / facilities, science laboratories, adding basic amenities, providing finance for implementation of new teaching methodologies like digital classrooms, experiential learning and other similar facilities, leading to a qualitative and quantitative improvement in their delivery model.
Loans are extended for the purpose of capacity building and quality improvement. The twin goals of the company are to assist with the creation of capacity building through social infrastructure, thereby enabling students to enjoy access to quality education and also to promote financial inclusion by focusing on schools serving urban low income segments.
