wordpress blog stats
Connect with us

Hi, what are you looking for?

, , ,

AskmePay launches working capital loan program for its SME partners

AskmePay, the payment initiative of the AskMe group*, has launched a new program called AskmeFin which will provide working capital loans, overdraft facilities and loans against receivables to small and medium enterprises (SMEs) who have partnered with the company. AskmeFin has tied-up with Mahindra Finance, Bajaj Finserv, Capital Float, Religare, SMEBank.in and Mandii.com for the same. AskmeFin will be providing collateral-free loans ranging from Rs 50,00 to Rs 1 crore to its sellers with repayment tenures of 15 days to 6 months. Loans for Askme's SME partners will be approved faster along with pre-approved offers.  The financing options will be for SMEs who serve AskMe, AskmeBazaar, AskmePay, AskmeFurniture and AskmeGrocery. Kiran Murthi, CEO of AskmePay, said loans to SMEs will be approved based on sales information available on Askme's databases. Other lending programmes by ecommerce companies in India - In June, Amazon extended its business loan programme to small sellers in India. The Amazon Lending programme, which provides short-term working capital for sellers to expand their business, is on an invite basis only and not open to all sellers. –  Flipkart Marketplace, is offering sellers on its platform access to easy loans through lending partners Capital Float and Lendingkart.  It directs sellers to fill out a simple ‘expression of interest’ form, which requires sellers to indicate the expected loan amount (Rs 5 lakh to over Rs 50 lakh), select the preferred loan partner, and provide details about how they would be using the loan . Sellers also need to sign a formal agreement. – Snapdeal had also…

Please subscribe/login to read the full story.
Written By

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

Views

News

The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."

News

By Soujanya Sridharan and Dr. Sarayu Natarajan Platform work and data: the intersection Every time you use a ride-hailing app, the matching algorithm processes...

News

New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?

News

Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement

News

Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?

You May Also Like

News

Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...

Advert

135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...

News

By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...

News

Rajesh Kumar* doesn’t have many enemies in life. But, Uber, for which he drives a cab everyday, is starting to look like one, he...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Name:*
Your email address:*
*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ