Glendale-based AVANA Companies, a private credit platform with more than 23 years of experience in commercial lending, is expanding into India after receiving Certificate of Registration for a non-deposit taking Non-Banking Financial Company license from the Reserve Bank of India, for its wholly owned subsidiary LendThrive Finance Private Limited.

The company has opened a regional office in Pune, India and plans to launch direct commercial lending operations to micro, small, and medium enterprises in India within the next six months, extending its model that has deployed more than $6.5 billion in loans to more than 500 small businesses across the United States.

For AVANA’s U.S. partners, this move represents AVANA’s evolution into a global private credit platform capable of deploying capital across the United States, AVANA has committed an initial capitalization of $1.5 million to meet license requirements and plans to invest another $20 million to grow the business, with a total investment goal of $25 million for three years.

“India represents a tremendous opportunity for AVANA Companies to extend our mission of providing capital that fuels entrepreneurship, job creation, and sustainable growth across borders,” Sundip Patel, CEO and co-Founder of AVANA Companies, stated in a press release. “As an entrepreneur with Indian heritage, I’ve seen firsthand how access to capital transforms businesses and communities”

This strategic expansion positions AVANA to tap into India’s growing economy, projected to grow at 6.5-7% annually, while addressing a critical $300 billion credit gap facing the country’s 63 million MSMEs.

Within this landscape, AVANA sees strong potential in India’s hospitality sector, where current loans total approximately $20 billion, including $3 to $4 billion from NBFCs. The industry is projected to grow at 12% annually through 2030, reaching over $30 billion and adding 500,000+ new hotel rooms.

“Small business owners are the heartbeat of India’s economy, driving innovation and creating jobs in communities across the country,” Patel stated. “By combining our tech-enabled lending approach with our impact-first philosophy, we see tremendous opportunity to improve access to capital for these entrepreneurs, unlocking their fuller potential.”

AVANA will launch lending operations from its Pune headquarters within six months, with regional expansion to other key cities, including Mumbai, Bangalore, Hyderabad and New Delhi planned. The company aims to build a team of about 120 people if the company reaches $1 billion in business in the next five to seven years.