Axis Bank ties up with Snapdeal to provide pre-approved loans to its SME sellers
Updated: Oct 08, 2015 10:53:57am
New Delhi, Oct 8 (KNN) Private sector lender, Axis Bank, has joined hands with Snapdeal to launch a pre-approved loan for small and medium enterprise (SME) sellers.
Axis Bank said in a release that the loan offers, ranging from Rs 2 lakh to Rs 1 crore, will be available to them till October 31 this year through their Snapdeal seller panels.
“These collateral-free loans will be offered to select sellers under Snapdeal’s seller financing program- Capital Assist. Sellers will be identified for these offers on the basis of their past performance on the Snapdeal platform,” the release said.
Sellers with pre-approved loan will receive the offer on their seller panel and interested sellers can then accept the offer and fill an application form online.
“Axis Bank provides call and doorstep facility for information exchange, KYC documentation and assistance. No financial statements or income tax proofs required,” the release said adding that the collateral-free loan will be disbursed in one to three days.
Meanwhile, Snapdeal on Tuesday said it will disburse loans worth Rs 1,000 crore to assist SMEs listed on its platform under its seller financing platform.
At the launched of a report ‘Impact of e-commerce on SMEs in India’, Co-founder and chief executive, Snapdeal, Kunal Bahl said the company has already provided loans worth Rs 200 crore in order to help sellers meet their working capital requirements. (KNN Bureau)
Axis Bank said in a release that the loan offers, ranging from Rs 2 lakh to Rs 1 crore, will be available to them till October 31 this year through their Snapdeal seller panels.
“These collateral-free loans will be offered to select sellers under Snapdeal’s seller financing program- Capital Assist. Sellers will be identified for these offers on the basis of their past performance on the Snapdeal platform,” the release said.
Sellers with pre-approved loan will receive the offer on their seller panel and interested sellers can then accept the offer and fill an application form online.
“Axis Bank provides call and doorstep facility for information exchange, KYC documentation and assistance. No financial statements or income tax proofs required,” the release said adding that the collateral-free loan will be disbursed in one to three days.
Meanwhile, Snapdeal on Tuesday said it will disburse loans worth Rs 1,000 crore to assist SMEs listed on its platform under its seller financing platform.
At the launched of a report ‘Impact of e-commerce on SMEs in India’, Co-founder and chief executive, Snapdeal, Kunal Bahl said the company has already provided loans worth Rs 200 crore in order to help sellers meet their working capital requirements. (KNN Bureau)
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