These are the loans sold by Amazon, Facebook, Google and others to small businesses in India

Aug 27, 2021 By: BI India Bureau

Indian MSMEs are at the cusp of serious acceleration

The year 2020 has been a watershed moment for the Indian micro, small and medium enterprise (MSMEs), which has accelerated their growth in digital transformation. Credit: Image-by-evelyneviret-from-Pixabay

Indian companies start to take notice

Several Indian private and state-owned companies have started to take notice of this segment over the last year and a half, and have rolled out several financial programmes to support these businesses. Credit: Image-by-Nattanan-Kanchanaprat-from-Pixabay

Indifi, Facebook to fund SMEs across 200 cities

Lending company Indifi has partnered with Facebook to offer collateral-free digital loans to SMBs across 200 cities. These loans would range anywhere from ₹5 lakh to ₹50 lakh at a 17-20 percent interest rate. Credit: Image-by-Firmbee-from-Pixabay

Amazon, InCred tie up for e-tailers/retailers

Last month, fintech company InCred partnered with Amazon to offer working capital of upto ₹50 lakh to sellers and retailers listed on the ecommerce platform. Credit: Image-by-Simon-from-Pixabay

Google partners with FlexiLoans for instinct business loan

MSME-focused lending platform FlexiLoans plans to disburse loans to over 50,000 small businesses listed on Google Pay in the next 12 months. Credit: Image-by-Simon-from-Pixabay-1

US Agencies to sponsor Kotak Mahindra Bank’s MSME loans

The US Agency for International Development (USAID) and the US International Development Finance Corporation (DFC) will jointly sponsor $50 million loan portfolio guarantee to Kotak Mahindra Bank to support women entrepreneurs and MSMEs. Credit: BCCL

Government’s e-commerce portal to offer loans to sellers

The Indian government’s e-commerce platform, Government e-Marketplace (GeM), launched a mobile app called ‘Gem Sahay’ to offer business loans to sellers. Credit: Canva

U GRO, Bank of Baroda to offer loans up to ₹2.5 crore

BSE-listed U GRO, Bank of Baroda will offer loans ranging between ₹50 lakh to ₹2.5 crore to small businesses at an interest rate starting from 8 percent. The loan will be for a tenure of 120 months. Credit: Bank-of-Baroda

World Bank approves $500 million MSME financing plan

After approving a $750 million financing plan for pandemic-hit MSMEs last year, the World Bank further approved a $500 million plan to finance Indian small businesses this year. The latest plan aims to improve performance of 5.55 lakh MSMEs. Credit: Canva/WorkBank

YES Bank launches ‘YES MSME’ for speedy loans

YES Bank launched a ‘YES MSME’ initiative earlier this year to offer speedy and easy access of funds to small businesses in India. Credit: BCCL

Flipkart offers growth capital to sellers within 24 hours

Earlier in May, e-commerce giant Flipkart expanded the benefits of its Flipkart Growth Capital to raise credit from less than ₹5 lakh to ₹5 crore. It offers loans within 24 hours at a 9 percent interest rate. Credit: BCCL