Lendingkart Finance disburses over 10,000 loans to SMEs in 23 diverse sectors across the country

India’s leading online platform that facilitates SMEs in obtaining working capital loans, Lendingkart Finance Limited, has successfully bridged credit requirements of SMEs operating across 23 diverse sectors. Disbursing over 10,000 loans across the country, Lendingkart Finance is the only digital lending platform that has effectively been able to cover diverse industries including apparels, computers, mobile and accessories, FMCG, textile and industry supplies among others.

 

Sectors such as apparels, computers, mobile, FMCG and textile usually have frequent demand for working capital loan owing to large daily operational costs. They are in constant need of funds to acquire stock as per demand and avail discounts on bulk purchasing.  In tier 1 and tier 2 cities, Lendingkart Finance witnessed over 22% demand for working capital loans coming from the apparel, clothing & accessories sector followed by 12% for computers & mobile sector and 10% for FMCG sector. In rural markets, FMCG sector witnessed most demand for credit at a growing 17% followed by computer & mobile sector at 11% and industrial supplies at 10%. Over the last 6 months, SMEs operating across health and pharma products, automobile accessories and IT services are also increasingly seeking to gain working capital loans.

 

Harshvardhan Lunia, Co-Founder and CEO, Lendingkart Technologies said, “There are around 4.8 crore MSMEs in the country that provide employment to over 10 crore people. However, they suffer from a constant lack of necessary funding support. Lendingkart Finance has always focused on bridging this credit gap offering easy, fast and convenient financing options. It is the only digital platform in the country that offers its services to as much as 23 varied business sectors that are spread over 550+ cities in 28 states. We have been able to do this by building a robust low-cost technology platform that today evaluates a new application every 5 minutes and disburses a loan every 15 minutes. Our vision is to drive financial inclusion for the entire MSME sector, and we are happy to say that we are well on our path to achieve that.”

 

A recent query in Lok Sabha revealed that the number of sick MSMEs during 2015-16 has doubled when compared to the 2012-13 period, indicating the gap that exists in the sector when it comes to financial support. While the Government of India through its various initiatives is focusing on financial inclusion for people at the bottom of the pyramid, the country is still far from achieving its true potential. Lendingkart Finance is aiding SMEs by giving them access to the much-required working capital that can meet daily operational expenses ensuring steady cash inflows aiding in sustenance and growth of business.

 

Lendingkart Finance offers quick and easy collateral-free loans with minimal paperwork. The robust technology platform has helped create a highly operational efficiency model that enables swift loan disbursement within 72 hours of loan application. Over 1,20,000 SMEs have till date reached out to Lendingkart Finance for their credit needs.

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