Brands
Discover
Events
Newsletter
More

Follow Us

twitterfacebookinstagramyoutube
Youtstory

Brands

Resources

Stories

General

In-Depth

Announcement

Reports

News

Funding

Startup Sectors

Women in tech

Sportstech

Agritech

E-Commerce

Education

Lifestyle

Entertainment

Art & Culture

Travel & Leisure

Curtain Raiser

Wine and Food

YSTV

ADVERTISEMENT
Advertise with us

TradeIndia launches lending arm to help MSMEs with working capital loans

TradeUdhaar has collaborated with lending platforms like ICICI Bank, Axis Bank, IIFL, Arthmate, Flexi Loans, Indifi, Mintifi, and Neo Growth.

TradeIndia launches lending arm to help MSMEs with working capital loans

Thursday May 25, 2023 , 2 min Read

TradeIndia, an online B2B marketplace, has launched its lending arm, TradeUdhaar, to offer access to unsecured working capital loans to micro, small and medium enterprises (MSMEs) across India. For that, TradeUdhaar has collaborated with lending platforms like ICICI Bank, Axis Bank, IIFL, Arthmate, Flexi Loans, Indifi, Mintifi, and Neo Growth.

TradeUdhaar says its loan products offer "competitive interest rates, flexible repayment terms, and loan amounts ranging from Rs 50,000 to Rs 50,00,000".

The focal point of the launch is the loan disbursement turnaround time (TAT) that will allow MSMEs to gain working capital loans within a time span of 48 hours or two business days, the company said in a statement.

According to a report by the investment banking company Avendus Capital, there exists a credit gap of $530 billion in the MSME sector. Only 14% of over 64 million MSMEs in India have access to credit, the report said. Another 2022 report by Blinc Invest noted that the formal lending sector like banks and NBFCs cater to less than 15% of the credit demand from MSMEs.

“With TradeUdhaar, we aim to bridge the funding gap and empower MSMEs with seamless access to working capital,” said Aditya Shankar, Vertical Head, Lending, TradeIndia. This would allow entrepreneurs to focus more on growing and running the business, he added.

TradeIndia intends to provide support to small and medium enterprises in their growth venture with its digital solutions which it believes will aid SMEs “unlock their potential, access the necessary funds, and propel their businesses forward on the path of success.” 


Edited by Kanishk Singh