In its mission to achieve profitability soon rather than later, last month ecommerce marketplace Snapdeal launched the SD advisor programme to reach out to its sellers. Around the same time Snapdeal announced its plan to add 100,000 new sellers to its marketplace by March 2016.
In the same time period Snapdeal now plans to assist its sellers attain loans totalling Rs 1,000 crore through its 'Capital Assist' programme.
"We have already helped sellers secure Rs 200 crore in loans through Capital Assist. By March 2016, we aim to take this to Rs 1,000 crore," Snapdeal co-founder and CEO Kunal Bahl said.
Snapdeal released a report this week in collaboration with KPMG which was aptly titled 'Impact of Ecommerce on SMEs in India'. The dossier explained that 41% of small and medium sized enterprises in India do not have access to the products of financial institutions and are unable to avail of a bank loan. Snapdeal's Capital Assist programme clearly helps fill this void and in another major boon it also approves instant loans for its sellers.
Snapdeal is not unique in offering loans. Many of the other major ecommerce marketplaces also provide financial assistance, which include Flipkart's 'Growth Capital Initiative', Amazon's 'Business Loan Program', Shopclues' 'Capital Wings' and ebay's 'Capital Float'. Paytm also offers a similar scheme through its financial services arm, Ant Financial.
So there you have it. Quite a number of options to choose from and put you on the right road to success. A word of caution though, when opting for a loan always read the small print, as there could be hefty interest rates to pay back. After all money does not grow on trees, although sometimes we wish it could.
Editor team is specialized in introducing the marketplace content targeting the Indian online sellers. They plan and coordinate to bring the appealing content for the small businesses on how to partner with the e-commerce sites like Amazon and Flipkart and strategies for improving their online business.
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