Comments
With its focus on small and medium enterprises, BharatPe on Friday announced the launch of a new lending product that would provide instant liquidity to distributors, wholesalers, traders and dealers.
Called Distributor to Retailer (D2R) Finance, it would offer collateral-free loans of up to ₹50 lakh for a period of seven days to 30 days.
BharatPe raises $108 million in Series D equity round
“BharatPe has already facilitated D2R loans of ₹50 crore in the first month of launch and aims to facilitate disbursal of ₹2,500 crore via this new product in the next fiscal year 2021-22,” it said in a statement.
The facility is live in 10 cities and has close to 2,000 SME registrations in just one month of launch, it further said, adding that the loan is available at a low interest rate, with zero processing fees and involves minimal paperwork.
“We aim to provide this offering in all 100 cities where we are present,” said Suhail Sameer, Group President, BharatPe.
BharatPe, third-largest player in UPI payment acceptance space
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.