Facebook teams up with Indian firm to help provide loans to small businesses

NEW DELHI, Aug 20 (Reuters) – Facebook (FB.O) is partnering with an Indian online lending firm to help provide loans to small domestic businesses, its country head said on Friday, as part of a push to bring more businesses to advertise on its platform.

The social media giant is joining hands with Indifi to help provide loans ranging from 500,000 rupees to 5,000,000 rupees ($6,719-$67,191) at annual interest rates of up to 20%, Ajit Mohan, Facebook India’s managing director, told a virtual news conference.

Facebook said it would pay off to bolster the small business economy in India as these

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