Snapdeal to Float Rs 1,000 Cr Fund to Indian SMEs under it’s Seller Financing Platform
Online retailer Snapdeal, said it will disburse loans worth Rs 1,000 crore to assist small and medium enterprises (SMEs) listed on its platform under its seller financing platform.
At the launched of a report ‘Impact of e-commerce on SMEs in India’ here, Kunal Bahl Co-founder and chief executive, Snapdeal, said the company has already provided loans worth Rs 200 crore in order to help sellers meet their working capital requirements.
The aim is to provide sellers on its platform access to funding to meet their working capital needs, among others, as they look to expand their businesses. Sellers with less than one year of business can also be financed under this programme.
Bahl said that the company have taken a number of initiatives like seller training programmes, seller financing programmes – capital assist and Snapdeal seller advisor programme.