Gurugram-based retail lending platform Loan of cards has been associated with Tata Group Tata Capital Limited’s financial services arm will offer unsecured business loans to micro, small and medium enterprises (MSMEs) across the country.
The partnership seeks to improve financial access for MSMEs by leveraging Lendingkart’s digital platform to streamline the lending process.
Founded in 2014 by Harshvardhan Lunia and Mukul Sachan, Lendingkart offers various types of loans including business loans, working capital loans, MSME loans, women business loans and personal loans.
The role of Lendingkart’s SaaS platform
Lendingkart’s software-as-a-service (SaaS) platform, ‘2gthr’, will be a key part of this collaboration. The platform helps manage the entire customer journey, from the initiation of loan applications to quick approval, disbursement of funds and collections management.
Through this platform, Lendingkart aims to improve access to credit for SMEsensuring that even disadvantaged companies can benefit from the loans provided within the framework of this partnership.
Addressing the critical financing needs of MSMEs
The partnership aims to address the critical financing needs of MSMEs, a sector that often struggles to access credit.
Highlighting the significance of the partnership, Harshvardhan Lunia, Founder and CEO, Lendingkart, said, “Our aim is to improve credit penetration and make financing accessible and easier for SMEs. This partnership will help us address the critical financing needs of underserved businesses and drive greater operational efficiency.”
The partnership is expected to combine Lendingkart’s technological expertise with Tata Capital’s extensive network to reach out to a wider range of businesses.
Tata’s focus on empowering MSMEs
Vivek Chopra, COO, Retail Finance, Tata Capital Limited, said, “Tata Capital’s partnership with Lendingkart reflects our dedication to collaborative growth. This strategic initiative will enable SMEs to leverage emerging opportunities and drive end-to-end business expansion.”
With over 750 branches across India, Tata Capital’s network is expected to play a crucial role in making these loans accessible to MSMEs across the country.
Disclaimer:
The information contained in this post is for general information purposes only. We make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the post for any purpose.
We respect the intellectual property rights of content creators. If you are the owner of any material featured on our website and have concerns about its use, please contact us. We are committed to addressing any copyright issues promptly and will remove any material within 2 days of receiving a request from the rightful owner.