Money & Banking

BharatPe launches instant liquidity facility for SME

Our Bureau Mumbai | Updated on March 26, 2021

The loan is available at a low interest rate, with zero processing fees and involves minimal paperwork

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.

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“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.

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Published on March 26, 2021

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