Money & Banking

ZipLoan partners with InCred to provide micro-loans to MSMEs

Our Bureau Mumbai | Updated on May 26, 2021

The rise in cash-intensity in the economy indicated a response to the pandemic which reflected in the form of a ‘dash to cash’ situation

The microloans will be ranging from ₹1 lakh to ₹10 lakh with tenure up to 36 months

Fntech firm ZipLoan has partnered with InCred to extend micro-loans to micro, small and medium enterprises that are unable to access financial services from traditional banking players.

“InCred and ZipLoan entered into co-lending partnership to facilitate wider and deeper reach of institutional credit in the MSME segment by leveraging each other's strengths in terms of size, scale and technology,” the company said in a statement.

The microloans will be ranging from ₹1 lakh to ₹10 lakh with tenure upto 36 months.

Under the partnership, ZipLoan will originate and process unsecured retail business loans as per jointly created credit parameters and eligibility. InCred will have 80 per cent of the total loan on its books while the remainder will be on ZipLoan’s books.

ZipLoan will manage the loan servicing throughout the loan life cycle.

Published on May 26, 2021

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