Lendingkart announces a strategic partnership with CreditEnable to increase access to affordable finance for Indian SMEs.
London, New Delhi, August 24, 2021
Lendingkart, a leading Indian fintech lender to SMEs and CreditEnable, a global credit insights and technology solutions company announced today that they have entered into a strategic partnership to increase access to affordable finance for SMEs in India.
Lendingkart uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses rapidly and accurately and quick loans to SMEs. Since its establishment, Lendingkart has disbursed more than 100 000 loans to 89 000 SMEs across India.
CreditEnable has developed a technology platform that delivers efficient intermediation of demand and supply of loans and ensures that SME lenders and borrowers can effortlessly find their perfect match. CreditEnable enables profitable growth for SME lenders by substantially reducing the time involved with underwriting SME loans, providing efficient access to quality borrowers, and improving the quality of their SME loan books. For borrowers, CreditEnable reduces the time and complexity of applying for a business loan, provides access to affordable finance, all with no impact on borrowers’ credit score and at no cost to borrowers. SMEs also receive tips and help from CreditEnable on how to improve their credit profile.
Commenting on the partnership with CreditEnable, Harshvardhan Lunia, Co-Founder and CEO, LendingKart said, “Lendingkart is committed to providing SMEs with easy access to capital while ensuring that we deploy capital efficiently so that we ensure excellent returns to our investors. CreditEnable has demonstrated that it is able to deliver high quality borrowers to us that we can underwrite quickly, which is of course core to our business model. We are delighted to be partnering with CreditEnable and look forward to continuing to expanding access to affordable finance with SMEs across India together”.
Commenting on the partnership, Nadia Sood, Global CEO and Founder of CreditEnable said, “We are delighted to be partnering with LendingKart to enhance access to affordable finance in India. Lendingkart’s data driven approach to SME lending means they are able to deploy loans quickly and can provide financing to SMEs all across India. Quick access to affordable capital is critical to SMEs ability to scale and this is going to be even more important as India rebuilds after COVID. LendingKart has a wide range of business loan products and a wide reach especially across 2nd and 3rd tier cities in India where growth is robust and where demand for finance is only going to grow. We are excited about the potential to bring that easy affordable access to SME borrowers across India.”