E-tail giants tie-up with NBFCs for easy loans

In a bid to encourage more sellers to join their online channels, e-tail giants like Flipkart, Snapdeal, Amazon are tying up with non-banking lenders.
 E-tail giants tie-up with NBFCs for easy loans
In a bid to encourage more sellers to join their online channels, e-tail giants like Flipkart, Snapdeal, Amazon  are tying up with non-banking lenders.
 
Several new-age non-banking finance companies (NBFCs) like Capital Float, Neo-Growth and Capital First, as well as online finance companies such as Lendingkart and loan facilitators like SMEcorner, are tying up with e-commerce players to offer sellers quick and hassle-free loans.
 
"Small businesses struggle to get loans. With e-commerce becoming more mainstream, it is encouraging several entrepreneurs to set up businesses online," SMEcorner founder andchief executive Samir Bhatia said. SMECorner has tied up with Snapdeal, Flipkart, eBay, Paytm, among other e-commerce players to play a catalyst role to secure easier loans for sellers, he said.
 
It has also partnered with several leading NBFCs. Lendingkart, which recently raised $10 million from PE funding has also tied up with Flipkart, Snapdeal and Amazon to offer easier loans to sellers who want funds in excess of Rs 1 lakh. According to a recent study by the Union MSME ministry, only 6 per cent small businesses get finance from organised lenders, indicating the difficulty of small businesses to get loans. In May, the nation's largest lender State Bank of India also jumped on to the bandwagon and tied up with Amazon India to help ecommerce sellers access easy loans.
 
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