- Religare Finvest Limited (RFL) to be a business partner on IndiaMART.com’s core business center my.indiamart.com
- Together aim to close the gap between SMEs and the need for credit
New Delhi, 10th March, 2011: Identifying the credit requirement of Indian Small and Medium Enterprises (SMEs) in today’s fast paced business scenario, IndiaMART.com, India’s largest online B2B marketplace, has partnered with Religare Finvest Limited (RFL), lending arm & a wholly-owned subsidiary of Religare Enterprises Limited, to extend its business support to its members. Through this, they have announced an attractive suite of loan products to provide impetus to small and medium entrepreneurs in the country. This strategic association entails a solution of lending on commercial earning assets through RFL’s three lines of business i.e. SME Loans, Loans against Property and Loans on Commercial Assets.
Speaking on the association, Mr. Dinesh Agarwal, Founder and CEO, IndiaMART.com, said, “Credit has always been an issue with the SMEs and through this initiative, we aim to address this issue of access to finance. We are delighted to partner with RFL and I am certain that this will facilitate SMEs in availing better credit facilities.”
Indian entrepreneurs often need the essential capital to start or expand their business, whether it is for purchasing new equipments, marketing or for short or long-term working capital. Addressing this need, IndiaMART.com alongwith RFL has brought special tailor-made SME loans to be availed by all self-employed traders, manufacturers and professionals from private or public limited firms.
Also, given that values of commercial and residential properties are rising, IndiaMART.com recognizes that many entrepreneurs are holding significant value through their property assets. Loans Against Property, structured loans that are priced to reflect the collateral of the property behind it, offer the key to unlock that asset value for use elsewhere in the business.
IndiaMART.com also acknowledges the importance of transportation in the development of every business and with Religare, brings Commercial Vehicle Loans that will serve the interest of new and used three-wheel vehicles, multi-utility vehicles, light and heavy commercial vehicles, tractor trailers, buses and high-end cranes. IndiaMART.com also brings Religare’s Construction Equipment Loans services specifically for the purchase of new and used construction equipment, including earth-moving machinery such as JCBs, excavators, backhoe excavators and wheel loaders.