It is that time of the year again! The festive season from October-January has been talismanic for the Indian economy. Cash flow is always the biggest challenge faced by the SME and MSME sector, especially during the festive season. As sales increases, more and more inventory needs to be financed. Thus time-sensitive working capital needs have to be assessed across inventory, payables and receivables. However, given the effects of economic slowdown reaching even small businesses, finding the funds to stock up is a challenge.
Fortunately, they have the divine, rather digital weapon of fintech by their side.
Hereby enclosing fintech platforms, helping small businesses to stock up easily this festive season:
1. Indifi Technologies: Indifi Technologies is a Gurgaon-based NBFC licensed for debt-financing platform for small businesses. With credit underwriting, technology and partners being the strong pillars, they have launched new products- early and weekend settlement to ensure timely credit to the merchants especially in the festive season. It aims to substantially improve the experience for borrowers regarding credit access as well as speed and convenience of the loan process. Driven by the idea of expanding access to MSME financing in India, Indifi has emerged as an enabler for start-ups and small businesses seeking seamless access to funding. Indifi expands the envelope of formal lending by designing the right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs.
2. LendingKart: LENDINGKART Technologies Private Limited is a fin-tech startup in the working capital space. The Company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness and provides other related services. The Company aims to transform small business lending by making it convenient for SMEs to access credit easily. The Company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately.
3. Flexiloans: FlexiLoans is an online lending platform started with an endeavour to solve the problem that SMEs face in accessing Quick, Flexible & Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. The platform wish to make the ‘social & alternative scoring of SMEs & Individuals a big opportunity for the economy that will far out place the limited insights that financial bureau provide. Their technology-powered online marketplace is the best model to meet the financial requirements of SME’s who do not have credit history & hence cannot avail loans from traditional banking channels.
4. Capital Float: Capital Float is the leading Fintech lender to digital India. From financing the dynamic growth of the SMEs to offering innovative point-of-sale financing for consumers, we are leading the charge in addressing the country’s enormous credit problem. They offer flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms and receive funds in their bank accounts in 3 days with minimal hassle.
