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Lendingkart, Paytm join hands for collateral-free business loans
27 Nov 2015
  • LendingKart, a credit evaluation and loan platform, has tied up with Paytm to offer collateral-free loans to SMEs and sellers through the mobile payments wallet, reported the Press Trust of India.
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  • The step aims at working towards bringing ease of financial assistance to small and medium enterprises and merchants across the country, Lendingkart said in a statement.
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  • The company wants to simplify the credit evaluation process, through efficient use of technology, making loan disbursement in three days at fair interest rates, it said.
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  • "The benefits we provide at Lendingkart allow the entrepreneurs to focus on building their businesses instead of worrying about gaps in their cash-flows," Lendingkart Chief Executive Harshvardhan Lunia said.
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  • "Through this initiative, we have attempted to simplify the process of loan disbursement and made capital accessible to everyone via our completely online application process," he said.
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  • Lendingkart further said it aims at serving loan demand in the semi-urban and tier-II cities as well, through its simplified process.
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  • Paytm said it is looking forward to expand its seller base, through this partnership with a concentrated focus on SME development. "Our commitment is to provide our merchants with a simple, seamless selling experience on our platform without having to worry about issues like arranging funds for operational purposes," Renu Satti, Vice-President - Business, Paytm, said.
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  • "I believe that through this partnership with Lendingkart, we will move towards that direction and bring more sellers on board," Satti added.
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