Lendingkart Finance partners with CIBIL Marketplace to enable faster, cheaper credit for SMEs

ANI | Updated: Oct 26, 2017 13:39 IST

New Delhi [India], Oct. 26 (ANI): Fin-tech startup, Lendingkart Finance Ltd. has announced its partnership with Transunion CIBIL, one of India's leading credit information companies.

Through this partnership, self-employed professionals and small business enterprises will now be able to access loans offered by Lendingkart Finance on the CIBIL MarketPlace platform.

TransUnion CIBIL maintains one of the largest collections of consumer credit information along with creating information solutions that enable businesses to grow and give consumers faster, cheaper access to credit and other services.

With lakhs of MSMEs engaging with TransUnion CIBIL to understand their CIBIL score and report, the association with Lendingkart Finance will enable seamless and easy credit access for this underserved sector.

"Our association with CIBIL MarketPlace is a step in the right direction. For years they have been helping businesses manage risk and devise appropriate lending and/or borrowing strategies, thereby creating trust and value for the lending ecosystem," said CEO and co-founder, Lendingkart Technologies, Harshvardhan Lunia.

"With this association, we are hoping to enhance accessibility of capital for lakhs of these micro enterprises and contribute significantly towards creating a 'financially included' society," added Lunia.

"As we expand our loan offers on CIBIL MarketPlace, the addition of Lendingkart's product, helps fill a gap in credit offerings to the under-penetrated MSME segment. We look forward to being able to help MSMEs raise funds at favorable interest rates," said VP and Head DTC Interactive, TransUnion CIBIL, Hrushikesh Mehta.

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 3,00,000 SMEs from more than 850 cities in the country have till date reached out to Lendingkart Finance for their credit needs. (ANI)