Lendingkart will offer working capital loans to MSMEs on Amazon

New Delhi, 9 Feb. (KNN) Lendingkart, a digital MSME lender, will provide performance-based working capital credit to marketplace sellers on Amazon India.

Minimal documentation will be required for credit, followed by flexible repayment options, the loan company said Tuesday.

To complete the loan application process, the contact details of the sellers will be required.

Lendingkart’s database, which boasts of having 5 lakh Micro, Small and Medium Enterprises (MSMEs) with 3.5 billion data points, will be used for credit underwriting for loans granted to vendors.

Sharing his views on the announcement, Manish Bhatia, President of Lendingkart said, “We have reached and extended credit to over 11,000 PINs in over 4,000 cities and towns, which is the highest in India.”

“Our success with MSME lending in India aligns well with Amazon’s efforts to empower small and medium-sized businesses to go digital,” he added.

“The mission of the Amazon.in Seller Loan Program is to enable seamless access to credit for our sellers with transparent policies and reduced costs. This program enables market vendors across India to avail affordable credit (term loans, working capital loans) seamlessly to meet their working capital needs,” said Vikas Bansal, Director of Amazon Pay India. (KNN Office)