Bengaluru, 18th February 2020: The 3-day Vyapar Loan Mela will commence in Delhi enabling small business owners to avail quick on-the-spot loan sanctions of up to Rs.50 lakh.
Solv, a B2B commerce platform for MSMEs, based in Bengaluru has launched “Vyapar Loan Mela”, a pioneering initiative to bring together new-age fintech lenders, to help small business communities with liquidity for business operations and expansion.
- The first phase of Vyapar Loan Mela will begin in Delhi this month with a 3-day event from 20th-22nd February at Karol Bagh, an important MSME hub in the North MSMEs will have access to multiple lenders like Lendingkart, Indifi and Flexiloans
- The initiative will also enable MSMEs with access to collateral-free loans at attractive interest rates and minimal paperwork
- Vyapar Loan Mela aims to provide a one-stop solution for the credit needs of MSMEs
With its unique technology platform, Solv aims to simplify growth of MSMEs by addressing challenges of trading with MSMEs from across the country, access to credit and day-to-day business operations like payroll, taxation etc.
Only about 4% of Micro, Small & Medium Enterprises (MSMEs) in India have access to formal credit. Laborious paper-work, lack of alternate credit scoring methods and information gap have led to poor access to finance for MSMEs. With the launch of Vyapar Loan Mela, Solv plans to bring the ease of hassle-free credit solutions to the doorstep of MSMEs and help them grow their business.
Commenting on the launch of Vyapar Loan Mela, Nitin Mittal, CEO and Founder, Solv said, “Solv is pleased to launch this initiative to enable MSMEs to meet their credit needs, thus helping them focus on business growth and expansion. At Solv, our vision is to provide MSMEs with an unprecedented growth edge through our B2B commerce platform. MSMEs are the economic engine of India and have a vast untapped potential; Solv is working to help them unlock it and Vyapar Loan Mela is a step in that direction.”
Vyapar Loan Mela is open to all small and medium business owners. MSMEs will only need to submit copies of their GST, PAN card and latest 12 month’s bank statement. Disbursement of loans will take a maximum of 2-3 days, post final approvals.