Fintech startup lending kart announced its partnership in co-lending with Cholamandalam Investment and Finance company(Chola) to disburse business loans to SMEs according to the media reports. The entire process will be digital. The working capital loan will be disbursed to MSMEs.
The media reports mentioned that lending kart aims to reach tier2 and tier 3 cities to bridge the financial gaps that exist in these cities. It will take care of origination processes with their tech platform “Xlr8” and “2gthr” using “zero-touch” features. It will also benefit Chola’s as will increase its reach and it will be easy for customers to access the company’s range of unsecured business loans.
Commenting on the partnership, Mr Harshvardhan Lunia, CEO & Founder, of Lendingkart said, “We are putting our efforts together to reach out to each market in India and assist entrepreneurs who are determined to create something of their own. In our journey of promoting financial inclusion in the country, these meaningful partnerships, like the one with Chola, will become our backbone and assist us with required liquidity support, while Lendingkart will leverage its network and technology to further expand the services to small businesses in India”.