IBEF: April 07, 2021
On Tuesday, FlexiLoans.com, an MSME-focused digital lending network, announced a collaboration with PayPal, a pioneer in digital payments, to offer collateral-free business loans to freelancers, women entrepreneurs, sole proprietors, and MSMEs.
PayPal's approach to democratising access to financial services is illustrated by this agreement, which offers PayPal's global best practises and credit solution expertise to Indian merchants who deliver cross-border using PayPal.
PayPal's FlexiLoans.com would help to provide working capital to MSMEs for business growth, stock purchases, inventory purchases, and other business-related expenses.
Borrowers will be allowed to get term loans ranging from Rs. 50,000 to Rs. 1 crore from merchants in over 1500 cities and towns across India via a convenient, hassle-free process that needs minimal documentation.
It was reported that the loan term will be between 6 and 36 months.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.