Lendingkart inks strategic alliance with Chola
To lend business loans to SMEs and MSMEs
Chennai, October 4, 2022: Lendingkart, a pioneer in financial services and a leading fintech company, today announced its co-lending partnership with Cholamandalam Investment and Finance company Ltd (Chola) to disburse business loans to SMEs. The partnership will be a100% digital process for customers. Here the working capital loans will be disbursed to small and medium businesses.
With this partnership, Lendingkart aims to expand their reach to tier2/tier 3 cities to bridge the financial gaps that exist in these cities. Lendingkart’s platform will take care of origination processes with their tech platform “Xlr8” and “2gthr” using “zero touch” features. The partnership adds to Chola’s reach and allow customers easier access to the company’s range of unsecured business loans.
Commenting on the partnership, Harshvardhan Lunia, CEO & Founder, Lendingkartsaid, “We are putting our efforts together to reach out to each market in India and assist entrepreneurs who are determined to create something of their own. In our journey of promoting financial inclusion in the country, these meaningful partnerships, like the one with Chola, will become our backbone and assist us with required liquidity support, while Lendingkart will leverage its network and technology to further expand the services to small businesses in India”.
“We are excited to extend our business loan offerings to SMEs and MSMEs through Lendingkart’s digital platform. We are happy to be partnering with a brand that has been successful in inculcating a culture of innovation and excellence in a very short span of 8 years. Building quality relationships has always been the foundation of Chola’s philosophy. Such partnerships go a long way in helping us towards making our products and services available to our potential customers. This collaboration with Lendingkart will facilitate convenience to those SMEs and MSMEs who are seeking business loans, making the overall process faster and seamless,” adds Ravindra Kumar Kundu, Executive Director, Cholamandalam Investment and Finance Company Limited.