Mumbai: An Australian social investment company is planning to provide financial help to over one million small business owners in India.

Opportunity International Australia targets poverty alleviation using a commercial approach. It has raised about $30 million from Australian donors in the last 12 months and the money would be used to supply financial loans and business services to budding entrepreneurs in India to help break the poverty cycle.

The microfinance provider aims to fund five million entrepreneurs in India over the next five years.  

"With this initial tranche of money leveraged at a rate of up to six times by debt funding from the major Indian banks, we will be able to reach one million small business owners," reports quoted Opportunity Australia chief executive Paul Peters as saying.