Last month, the Askme group launched the ‘Grow with us’ programme for its merchants and it is now looking at more interesting ways to assist it sellers. AskMePay, the payment initiative by the AskMe group has launched ‘AskmeFin’, a new programme that will help its sellers to arrange loans with ease and quick disbursement. The type of loans include short term working capital loans, overdraft limit, loans against receivables and also bill discounting. In the recent past, online marketplaces, such as Flipkart, Snapdeal, Amazon and Paytm have created similar offerings for their sellers.
“At AskMe, we are committed to help our SMEs partners to grow their business. AskmePay has launched this innovative campaign that does away with the conventional paper-based process of lending and enables speedier working capital finance approval to our SME partners, based on digital information available for SMEs and their sales on our portals. The SMEs who are using AskmePay for their offline transactions will also be eligible to avail these financing options,” said Kiran Murthi, CEO, AskmePay.com.
AskmePay has created strategic alliances with the following to facilitate loans:
- Mahindra Finance
- Bajaj Finserv
- Capital Float
The loans on offer will range anywhere between Rs.50,000 and Rs. 1 crore and will be available for a period of as little as 15 days or as long as 6 months. The alliance partners will deliver the loans at competitive interest rates, so that sellers will be equipped with more working capital and without the hassle of brandishing excessive documentation. Furthermore the unsecured loans will be collateral free.
“The working capital loans will be available to any SME who has been selling on any of our portals and transacting through AskmePay. The loan amount will be decided basis the turnover or the transaction history of the seller on AskmeBazaar or AskmePay. We hope that SMEs will come forward and make the most of the offerings under AskmeFin, thereby giving us a chance to be a partner in their growth story,” remarked Murthi.