India’s 1st online financing platform for SME sector launched - www.SMEcorner.com
Currently working with Flipkart.com to arrange funding for its SME clients
Mumbai November, 2014:
India’s first online platform to address the needs of diverse Small and Medium Enterprises was launched, called SMEcorner.com
Given the phenomenal rise in the E-commerce sector in India, SMEcorner is actively aiming at arranging finance for the E-commerce ecosystem. The company is currently working with Flipkart to arrange finance for their sellers.
“In India there is huge gap in debt financing in the SME sector. If we look at the data collected by International Finance Corporation (IFC), around 41% of the SMEs in India do not have access to bank loans or other related products offered by financial institutions. IFC reports a financing demand gap of Rs 2.93 trillion in the SME sector. This is the gap that we aim to target and bridge through our new venture,” said Mr Samir Bhatia, Founder & CEO, SMEcorner.com
To begin with, SMEcorner.com offers 4 different categories of products:
· Working Capital Loan
· Loan Against Property
· Unsecured Business Loan
· Loan for Medical Equipment
“This easy, simply and transparent marketplace is designed for SMEs to access loans and allied services through a robust network of Banks and NBFCs, who are our partners. Our objective is to play an important role in contributing to the growth of the country by unearthing the capabilities of the SME sector. With talent and opportunities unfolding, we aim to provide a one-stop–shop with flexible financial solutions for the SME sector,” Mr Bhatia added.
A user-friendly interface SMEcorner.com offers hassle - free loan accessibility options in just six simple online steps. This helps combat challenges of endless follow–ups, arduous documentation, unprofessional intermediaries and more. SMEcorner.com offers tools such as Loan Eligibility Calculator and Loan EMI Calculator which helps entrepreneurs to manage their debt efficiently and effectively. Morever, the SMEcorner.com does not charge the borrowers for its services.
The brainchild of Mr Samir Bhatia, SMEcorner is managed by a set of seasoned financial sector professionals who understand the industry and requirements of both sides of the supply chain.
Mr Samir Bhatia himself is a recognised finance professional with deep knowledge of the SME lending space having worked in Citibank, HDFC Bank, Barclays Bank and Equifax at leadership positions.