New Delhi, Mar 6 (KNN) Digital Micro Small and Medium Enterprise (MSME) lender Lendingkart has disbursed Rs 1 lakh loans worth over Rs 5,000 crores to more than 1,300 cities so far.

As per the statement of the company, the number of MSMEs securing loans through the RBI registered NBFC Lendingkart is more than 89,000 across India even as the number of loans disbursed in the past year has grown 140 per cent.

MSMEs based in sectors including apparel, textiles, industrial supplies and solutions, FMCG, food grains, groceries, computers, mobiles and related accessories, automobiles, and health and wellness are leading to increased demand for loans. This particularly comes from small cities as 75 per cent of the company’s MSME customers are based in non- metro cities and regional locations.

“For a majority of small and medium enterprises, non-formal sources still serve as the only means to acquire funds due to perceived credit risks in financing small enterprises,” said Harshvardhan Lunia, Co-founder and CEO, Lendingkart.

Lendingkart had last month announced a co-lending tie-up with another NBFC Northern Arc Capital to disburse more than Rs 150 crore in working capital to small businesses.

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