Glendale, Ariz. / Pune: AVANA Companies (AVANA), a private credit platform with over 23 years of commercial lending expertise, has secured regulatory approval from the Reserve Bank of India (RBI) to operate as a non-deposit taking Non-Banking Financial Company (NBFC) through its wholly owned subsidiary, LendThrive Finance Private Limited.
With this approval, AVANA Companies is set to begin direct lending operations in India, targeting Micro, Small, and Medium Enterprises (MSMEs).
AVANA Companies Expands to Address $300B MSME Credit Gap
With India’s MSME sector facing a credit shortfall of nearly $300 billion, AVANA Companies plans to invest $25 million over the next three years, beginning with an initial capitalization of $1.5 million.
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The company has opened its India headquarters in Pune and intends to launch commercial lending operations within six months, focusing on working capital, hospitality, and real estate-backed loans.
Sundip Patel, CEO and Co-Founder of AVANA Companies, said: “India represents a tremendous opportunity for AVANA Companies to extend our mission of providing capital that fuels entrepreneurship, job creation, and sustainable growth. As an entrepreneur with Indian heritage, I have seen firsthand how access to capital transforms businesses and communities. This expansion allows us to bring our relationship-driven lending approach to India’s dynamic MSME sector.”
Building a Global Private Credit Platform
The expansion marks AVANA Companies’ evolution into a global platform, with active lending operations across the United States, Middle East, and India. The company has deployed over $6.5 billion in loans to more than 500 small businesses in the U.S., with significant financing directed toward minority-owned enterprises, helping to create over 5,500 jobs.
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AVANA Companies Eyes India’s Growing Hospitality and SME Market
India’s hospitality industry, currently valued at around $20 billion, is projected to grow at 12% annually through 2030, adding over 500,000 hotel rooms. AVANA Companies sees strong lending potential in this sector alongside MSME-focused financing. By operating as an NBFC, AVANA can deploy capital directly in India, eliminating intermediaries and enabling faster loan processing and stronger borrower relationships.
AVANA Companies Strengthens India Team and Operations
To drive its India operations, AVANA Companies has appointed Siddharth Purandare, former Head of SME Business at Edelweiss Financial Services, as Managing Director. The company plans to expand into Mumbai, Bangalore, Hyderabad, and New Delhi over time, hiring up to 120 professionals across compliance, credit, sales, and operations as lending volumes scale toward $1 billion in the next 5–7 years.
AVANA’s digital-first approach will streamline customer onboarding and loan servicing, supported by physical teams for collections and regional branches for operational hubs. Beyond MSME and hospitality lending, the company plans to expand into supply chain finance, equipment financing, and cross-border trade finance between India, the U.S., and the Gulf.
Patel added: “Small business owners are the heartbeat of India’s economy. By combining our tech-enabled lending with an impact-first philosophy, AVANA Companies is uniquely positioned to empower entrepreneurs and strengthen communities across the country.”
