Mahindra Finance Partners With Lendingkart For SME Business Loans
Date
2/26/2024 2:18:46 PM
(MENAFN- KNN India) Mumbai, Feb 26 (KNN) Mahindra & Mahindra financial Services Limited (MMFSL), a non-banking financial company (NBFC), has announced a strategic collaboration with fintech firm Lendingkart to facilitate business loans for the Small & Medium Enterprise (SME) sector.
This nationwide partnership signifies Mahindra Finance's entry into the co-lending space, specifically tailored for the SME sector, operating under an 80:20 structure. Lendingkart will utilise its advanced tech platform, Lendingkart 2gthr, to streamline the entire loan process from origination to underwriting, disbursals, and collections.
Raul Rebello, the MD&CEO - Designate of Mahindra Finance, expressed,“The SME sector is experiencing rapid growth, highlighting the crucial need for timely credit access. Through our co-lending initiative, our shared goal is to revolutionise credit decision-making, enhance accessibility, and foster financial agility within the SME landscape.”
Together with Lendingkart, Rebello added, we are committed to delivering comprehensive and competitive financial solutions to SMEs, as we strive to become a responsible financial partner to India's emerging businesses.
Harshvardhan Lunia, Founder & CEO of Lendingkart Group, echoed this sentiment, stating,“Our co-lending partnership with Mahindra Finance underscores our dedication to fostering collaboration within India's financial ecosystem to better serve underserved MSMEs and advance the national agenda of financial inclusion. In collaboration with Mahindra Finance, we will leverage our expertise to simplify financial processes for the benefit of India's burgeoning SME sector.”
Through this collaboration, Mahindra Finance and Lendingkart aim to streamline access to financing for SMEs, contributing to their growth and the broader economic development of India.
(KNN Bureau)
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