AskmePay, the payment initiative by AskMe group announced the rollout of a wide portfolio of financing options to the SMEs with the launch of its new programme AskmeFin. This is in line with the group’s Grow with Us
campaign launched earlier this month and is aimed at providing a variety
of working capital loans to SMEs including short term working capital
loans, overdraft limit, loans against receivables and bill discounting
facility for SMEs.
Speaking on the development,Kiran
Murthi, CEO, AskmePay, said, “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 group has also announced a series of
strategic alliances to facilitate faster financing for SMEs,
irrespective of the size of their business. It has tied up with Mahindra
Finance, Bajaj Finserv, Capital Float, Religare, SMEBank.in and
Mandii.com, and will be offering loans ranging from Rs.50,000 to Rs.1
crore to its sellers, available for tenure ranging from 15 days to six
months.
The financing options will be in
addition to its array of services that serve SMEs from AskMe,
AskmeBazaar, AskmePay, AskmeFurniture and AskmeGrocery.
“The SMEs, who are using AskmePay for
their offline transactions, will also be eligible to avail these
financing options,” added Murthi.
The alliance partners will be extending
easy and quick disbursement of finance to SMEs at competitive interest
rates. The unsecured loans will be collateral free and available through
easy documentation, thereby equipping them with more working capital.
The other positives of the loans offered
by AskmeFin include quicker approval for loans as well as pre-approved
offers and easy repayment methods.
