Lendingkart, a online platform that facilitates Small and Medium Enterprises (SMEs) in obtaining working capital loans, has tied up with Craftsvilla.com. The association will facilitate easy and collateral-free working capital loans to Craftsvilla’s sellers seeking monetary assistance.

Mumbai-based Craftsvilla, a online shopping store for sarees, salwar suits, lehengas, jewellery, home decor and other ethnic products has recently launched ‘seller financing’ program which has been providing a financing aid platform to their sellers. Partnership with Lendingkart will further take Craftsvilla’s ‘seller financing’ program a step ahead towards unprecedented growth besides fulfilling the rising demand for their products.

Harshvardhan Lunia, Co-Founder and CEO, Lendingkart said, “Small businesses and sellers on online marketplaces struggle to get financing these days to keep up with the escalating demands and competitive markets. We will help its sellers obtain loans with limited credit history, thereby bridging gaps in their business cash-flows.”

“Craftsvilla is offering a marketplace on the other side. We want our merchants to be sufficiently financed so that they are able to concentrate only on scaling up the supply as per growing demand of customers,” said, Manoj Gupta, Co-Founder Craftsvilla.com.

The pilot financing program will be extended to the regular sellers on Craftsvilla’s platform. This strategic alliance will offer them an opportunity to grow fast and build loyalty with the brand as most sellers sell on multiple platforms.

Source: The Economic Times