SMEpost

Tata Capital ties up with Biz2Credit to lend to SMEs

Tata Capital, the financial services company of the Tata Group, has tied up with Biz2Credit, an online resource for small business finance, to lend to small- and mid-sized companies.

According to a press release, Tata Capital will use the acquisition channels on Biz2Credit’s small business lending marketplace. Tata Capital has a total book size of over Rs. 42,000 crore and Biz2Credit has provided more Rs. 8,500 crore ($1.3 billion) in finance to small- and mid-sized companies.

In addition, the release said, Tata Capital would get access to a range of Biz2Credit’s offerings, including data and risk analytics through a patented system to innovatively fund small business transactions.

The release quoted Govind Sankaranarayanan, COO – Retail Business and Housing Finance, Tata Capital, as saying that the lack of organised credit to small business owners is a gap in the Indian financial market and an inhibiting factor for growth of entrepreneurship.

Tata Capital hopes to address this gap with its focused digital offerings, he added.

Source: Business Line