Flipkart said on Thursday it has expanded benefits under a seller financing programme to support business continuity and growth.
The e-commerce marketplace has forged various new partnerships under the working capital loans programme to increase the breadth of options and opportunities available to lakhs of sellers through multiple lenders based on specific business needs.
These partnerships have enabled the growth capital programme to provide fresh credit options to sellers ranging from Rs 5 lakh up to Rs 5 crore. The programme enables sellers to get secured and unsecured loans.
With the help of tech synergies across the ecosystem, sanctions happen instantly and disbursals within 24 hours of the application.
Flipkart said the growth capital programme is designed to enable financial inclusion and independence for MSMEs who operate online. Sellers partners have leveraged the programme's benefits, resulting in an average loan size increase of 18 per cent year-on-year.
Ranjith Boyanapalli, Senior Vice President for marketplace, fintech and payments group, said e-commerce has played a transformational role for sellers and MSMEs in recent years, especially since the pandemic, by providing new avenues for their growth and expansion.
"The scope and the benefits of growth capital programme will help them speed up cash flows and manage procurements better. The application process is now faster and they can choose from a wide set of lenders as per their requirements," he said in a statement.
( With inputs from ANI )
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