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India gets its first online SME lending platform
Nov '14
India now has its first online platform, SMEcorner.com, which will address capital and financial needs of India’s vast small and medium enterprises (SMEs).

SMEcorner.com has tied up with India’s biggest ecommerce retailer, Flipkart to arrange funding for its SME clients.

To begin with, SMEcorner.com offers four different categories of loan products like, working capital loan, loan against property, unsecured business loan and loan for medical equipment.

“In India there is huge gap in debt financing to the SME sector. Data from International Finance Corporation (IFC) suggests that around 41 per cent of SMEs do not have access to bank loans or related products, said Samir Bhatia, Founder of SMEcorner.com.

He added, “IFC reports a financing demand gap of Rs 2.93 trillion in the SME sector and this is the gap that we aim to target and bridge through our new venture,”

SMEcorner.com is an easy, simply and transparent marketplace designed for SMEs to access loans and allied services through a robust network of banks and NBFCs, who are its partners.

Its objective is to play an important role in contributing to the growth of the country by unearthing the capabilities of the SME sector.

“With talent and opportunities unfolding, we aim to provide a one-stop–shop with flexible financial solutions for the SME sector,” Bhatia informed.

The user-friendly interface SMEcorner.com offers hassle-free loan accessibility options in just six simple online steps.

“This helps combat challenges of endless follow–ups, arduous documentation, unprofessional intermediaries and more,” the online platform said.

SMEcorner.com offers tools such as loan eligibility calculator and loan EMI calculator which helps entrepreneurs to manage their debt efficiently and effectively.

SMEcorner.com is the brainchild of Samir Bhatia, who is a finance professional himself with knowledge of the SME lending space having worked in Citibank, HDFC Bank, Barclays Bank and Equifax. (AR)

Fibre2fashion News Desk - India

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