New Delhi, Feb 9 (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, said the lending company on Tuesday. 

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

The database of Lendingkart, which boasts to have 5 lakh micro, small and medium enterprises (MSMEs) with 3.5 billion data points, will be used for credit underwriting for loans extended to sellers.

Sharing his view on the announcement, Manish Bhatia, President, Lendingkart said, “We have reached and extended credit to over 11,000 pin-codes across more than 4,000 cities & towns which is the highest in India.”

“Our success with MSME lending in India aligns well with Amazon’s efforts to digitally enable small and medium businesses,” he added.

“The mission of Amazon.in’s seller lending program is to enable seamless access to credit for our sellers with transparent policies and low costs. This program enables marketplace sellers across India to avail affordable credit (term loans, working capital loans) seamlessly to meet their working capital requirements,” said Vikas Bansal – Director, Amazon Pay India. (KNN Bureau)