COLLATERAL-FREE SME LOANS

No-collateral SME loans are a form of financing that does not require borrowers to provide collateral, such as property or assets. This type of loan is typically extended to small and medium-sized enterprises (SMEs) that may need more collateral to secure traditional bank loans.  No-collateral SME loans can be used for various purposes, including working capital, inventory purchases, expansion projects,…

THE USE OF TECHNOLOGY FOR IMPROVING THE ACCESS OF SMALL BUSINESSES TO CREDIT

Technology has revolutionized the world and the business world is no exception. Apart from helping businesses in operations and innovations, technology has empowered small businesses.   The biggest concern for small businesses is arranging adequate funds. So, technology has made the process of loans faster and more transparent, enabling small businesses to operate and grow. It won’t be wrong to say…

FUTURE OPPORTUNITIES FOR TECHNOLOGY TO SUPPORT ECONOMIC INCLUSION

Economic inclusion, or having access to formal financial services like bank accounts, credit, and loans, is one of the most effective ways to end poverty cycles. Unfortunately, as many as 1.7 billion individuals worldwide still need bank accounts or access to financial services. Those already economically vulnerable will find it more challenging to improve their circumstances because of this condition.…

FINNOVATE: FinTech for SMEs Concluded with a Positive Impact

A first-of its kind industry event – FINNOVATE:Fintech for SMEs was conceptualized and organized by Small Enterprise India. This conference was a get-together of the top financial institutions, Banks, Fintech companies and SMEs. The vision of the get-together creates a great opportunity for SMEs to learn about the latest trends in FinTech and how financial institutions are catching up with…

HOW FINTECH IS DISRUPTING THE SMALL BUSINESS LENDING MARKET

In simple words, Fintech is a set of tools or technologies that work toward supporting and enabling financial and banking services. It is an amalgamation of a different set of specialized software and data analysis to foster the needs of the growing economy of SMEs. Its welcoming approach toward Blockchain technology has eliminated intermediaries and provided greater transparency. The Covid…

Exponential Growth of TradeIndia’s Digital Lending Expects 5X Growth in 2023

TI Lending, India’s first digital lending solution for SMEs, announced the disbursement of loans totalling more than INR 500 million to SMEs and MSMEs in the country within six months of its launch. TI Lending is an exclusive digital loan solution initiative by TradeIndia.com, India’s largest B2B marketplace. TradeIndia.com has collaborated with leading lending platforms like ICICI Bank, Mintifi, Indifi,…

AYEKART FINTECH AIMS TO DELIVER 4X GROWTH IN REVENUE IN FY-23

The Agri-integrated supply chain and finance platform, Ayekart Fintech celebrates two years of its establishment in the country. Founded in December 2020, the start-up aimed to empower traditional businesses by digitizing their operations, assisting in finance, and providing value-added services.  The platform started its pilot operations in June 2021, and further commercially rolled out its services in September 2021. It…

UpScale by CredAble launches new E-invoicing solution to help SMEs

~ The newly launched solution will help India’s 70 MN+ SMEs to easily and securely create & manage their E-invoices. Keeping up with the government of India’s bullish stance on digital transformation, UpScale by CredAble, a business growth app, has launched its new e-invoicing solutions for SMEs. The solution helps businesses with financial operations management assistance as per the rules led by the…

Banking the SME Market

SME banking is an untapped market in terms of digital transformation. SMEs have not benefited from the same innovation in India’s SME banking sector compared to retail clients since it has not been adequately digitalized. SMEs are frequently ignored and underutilized despite their need for simple access to financing. Most economies, especially emerging nations, depend heavily on SMEs, which also…