To provide quick and easy loans for small businesses and sellers on their e-commerce platforms, major players in the category such as Flipkart, Snapdeal, Amazon and others are tying up with the new-age non-banking finance companies (NBFCs); Capital Float, Neo-Growth and Capital First and loan facilitator, SMECorner are those among who have reportedly struck deals.
Only six per cent small businesses get finance from organised lenders. In May, the nation’s largest lender State Bank of India tied up with Amazon India to help ecommerce sellers access easy loans, as per the recent study by the Union MSME ministry.
SMEcCorner has tied up with Snapdeal, Flipkart, eBay, Paytm, to play a catalyst role in securing easy loans for sellers. SMEcorner founder and Chief Executive, Samir Bhatia was quoted as saying,”With e-commerce becoming more mainstream and small and medium businesses struggle to get loans, the move is encouraging several entrepreneurs to set up businesses online.”
Online finance company Lendingkart, which recently raised $10 million from PE funding, has also tied up with Flipkart, Snapdeal and Amazon.
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