chennai veritas finance an msmefocused lender has raised 80 crore issuing nonconvertible debentures ncds to microfinance initiative for asia and blueorchard microfinance fund two funds managed by impact investor blueorchard finance veritas plans to use the funds to expand its loan book which is currently at around 740 crore the company targets to increase this to 1400 crore in the coming yearveritas lends to msmes in seven states and one union territory and is currently planning expansion into jharkhand the nbfcs products range from shortterm loans for working capital medium term loans for business expansion and longterm loans for asset creation we are pleased to partner with leaders in the impact investment space like blue orchard along with existing and new lenders d arulmany md ceo veritas finance said