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11th Jan, 2022: Protium, a pre-eminent engineering-led, risk-focused lending platform, becomes the official financing partner for the National Independent Schools Alliance (NISA). Protium will offer financial solutions to the 55,400 affiliated schools of NISA.
The company is trying to address the learning gap that has arisen due to the pandemic by empowering pandemic affected schools financially.
Protium had earlier announced that it has joined hands with the Telangana Recognised School Managements Association (TRSMA) to assist effective financial management at schools at the ‘EdEx School Leadership Summit 2021’. In December, the company had also announced its plans to provide financial lending to more than 500schools affected by the pandemic at the 'School Leadership Summit 2021 - Manthan', a summit organised by NISA.
Protium believes that the ripple effects of the pandemic on schools may undermine the chances of millions of students attending college and ultimately being successful in life in order to support a family. In many ways, the effect of the pandemic on schools has depressed the present generation's prospects far into adulthood. Protium wants to address the situation by helping schools get back on their feet.
Dhruv Suri, Managing Director, Protium, said, "The pandemic has wreaked havoc across countries, industries and sectors; education is no exception. Our vision is to provide low or middle-income schools affected by the pandemic with the opportunity and time to rebuild and restructure, to ensure inclusive education for all. With NISA as a partner, we are sure of achieving this vision."
"COVID-19 has affected millions of children who have faced challenges in learning. Some students who might have disengaged from school altogether may have slipped even further by losing knowledge or skills they once had. We are trying to address this learning gap. We want our youth to get a seamless learning experience, and only schools can do that. Thus, the need to empower them financially." he added.
NISA is a platform that brings together budget private schools (BPS) from across the country to give them a unified voice to address their concerns about legislations and bye-laws which apply to them and to facilitate quality improvement in schools. As of today, NISA represents over 55,400 schools from 20 state associations, which cater to the needs of approximately 9.35 million children at an average of 250 children per school.
"Over the last two years, COVID-19 has taken a heavy toll on every field. The education system was no different. Lower fee collections and meeting existing financial commitments was a large enough challenge for most educational institutions, but it was a time for us to adapt. For the first time in our history, students sat on beds and dinner tables, and teachers had to face the challenge of teaching on a screen instead of on a blackboard. As we slowly recover from this pandemic, schools set their sights higher in order to empower our students. There is no single, more positive influence for school going kids than high-quality infrastructure, but most schools do not have the capital to make these changes. Having access to affordable credit can make all the difference, and that is where financial institutions, like Protium Sakshara, can make a real impact. By lending to schools, you not only help them build something of lasting value, but you also invest in the promise and potential of the bright, young minds of tomorrow," said Dr Kulbhushan Sharma, President, NISA.
About Protium
Founded in 2019 under the conviction that engineering can and is transforming finance in India, Protium is a full-stack lender with over 50 branches in 36 cities across the country. The company operates under Protium Finance, Protium Money and Protium Sakshara, which lend to MSMEs, consumers and educational institutions respectively. Protium uses proprietary models to assess revenues and growth to equip its customers with financial solutions like secured and unsecured loans up to INR 5 Crore to small businesses in tier 1, 2 and 3 cities, as well as personal loans to the consumer segment.
Protium Sakshara serves the education ecosystem in India through lending solutions that enable growth and recovery from the adverse effects of COVID-19. Protium Sakshara is committed to changing the educational landscape of the country by empowering schools to upgrade their facilities and/or meet working capital requirements.
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