New Delhi, 07 July 2022: India’s largest B2B marketplace, TradeIndia announces the launch of TI Lending, an exclusive digital loan solution. This offering is a complete digitized solution with zero paperwork & offers instant business loans up to 50 Lakhs with a disbursal time of 24 hours. The robust technology and holistic decision engine will allow firms access to safe & secure credit without any hidden fees or charges.
TI Lending will address the varied challenges faced by SMEs in the country. Capital denial is one of the major hurdles that is preventing SMEs from taking the entrepreneurial plunge. TradeIndia through TI lending which is a 100% online solution envisions to become the first choice amongst SMEs for quick and convenient business loans and enable them to build a strong credit history to become eligible to take bigger loans from the banks.
“The idea behind introducing TradeIndia (TI) Lending is not just to offer SMEs the ease of doing business; it is majorly done to help them with much required financial assistance so they can pursue their growth strategies. India has approximately 63 million+ SMEs, accounting for 30% of the country’s GDP and generates 100 million+ jobs for both skilled and semi-skilled workforce. However, they have their own set of challenges, with ‘capital gap’ being the major of all. We see this service as a step forward in the direction of improving the competitiveness of SMEs,” says Sandip Chhettri, CEO, TradeIndia.
In the last five years, the credit gap in the country has increased. Small businesses which require quick access to working capital for their daily operations can have an impact on their earnings and profits in cases of any hindrances in attaining the same. However, other problems such as payments delay which further lead to reduced investments and growth may arise. Resulting in risk aversion in the minds of entrepreneurs. TI Lending aims to address such varied underlying problems.
Talking about TI Lending, Aditya Shankar, Business Head, Lending, TradeIndia shared “In keeping with the company’s long-term vision to enable all SMEs to go digital, we are not only hand-holding them to grow their business but also extending credit facility to them now. Also being one of the oldest B2B e-commerce platforms with over 3 decades of experience, we understand SMEs’ business, transactions and behavior more than any other lender. Hence we thought of leveraging our expertise and introduced TradeIndia Lending which endeavors to create an ecosystem where it is a win-win situation for SMEs as well as lenders. SMEs will now have easy access to lending products and credit facilities, while lenders get qualified, quality and verified customers.”
TradeIndia has partnered with RBI licensed lenders to ensure maximum safety and all the information shared by the firms are processed and stored with banking-level security controls.
Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.