Home / Knowledge / News / Textiles / India gets its first online SME lending platform
India gets its first online SME lending platform
27
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

Must ReadView All

Courtesy: H&M

Apparel/Garments | On 30th Mar 2017

H&M group's sales increase 7% in 3 months to Feb '17

The H&M group's sales including VAT amounted to SEK 54,369 million...

Textiles | On 30th Mar 2017

India Inc should work for July 1 GST roll out: Fin sec

The Goods and Services Tax (GST) will take India into a very exciting ...

Textiles | On 30th Mar 2017

Lok Sabha approves 4 supplementary GST legislations

The Lok Sabha has approved four supplementary Goods and Services Tax...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search