On March 26,2021, BharatPe, a financial technology company for merchants launched its lending product- ‘Distributor to Retailer’ (D2R) Finance, to provide instant liquidity to Small and Medium Enterprises (SMEs).
- It will offer collateral-free loans of upto Rs. 50 lakhs for a period of 7 days to 30 days and the loan will be available at a low interest rate, with zero processing to distributors, wholesalers, traders and dealers.
It aims to provide financial products to address the credit gap faced by over 60 million SMEs and help them to grow their businesses.
About Distributor to Retailer (D2R) Finance:
- D2R is a short-term loan that is innovatively designed to address the constant liquidity challenge faced by SMEs and its loan disbursals will be within 1 business day.
- The company has launched this product in 10 cities as a pilot programme for one month and has facilitated D2R loans of Rs. 50 crores.
- Now it is yet to launch it in all 100 cities where they Bharat Pe are available and targeting to facilitate disbursals of Rs. 2500 crores in the next fiscal year (FY22).
- The company is aiming to provide this facility to small kirana stores and merchants.
Recent Related News:
On February 16, 2021 PHD Chamber of Commerce and Industry(PHDCCI) signed a Memorandum of Understanding(MoU) with Small Industries Development Bank of India (SIDBI) to offer various credit & other schemes of SIDBI to Micro, Small and Medium Enterprises (MSMEs), which is member of PHDCCI in India. They can get the schemes with comparative ease and better terms.
About Bharat Pe
Establishment – 2018
Headquarters– New Delhi
Chief Executive Officer – Ashneer Grover