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Business Economy

Small businesses set to grow with easy loans at SOLV’s Vyapar Loan Mela

Small businesses set to grow with easy loans at SOLV’s Vyapar Loan Mela

New Delhi, Feb 21(UNI) SOLV is a digital marketplace for small and medium enterproises (SME's) which is offering financial and business solutions for bussinesses in this segment. SOLV aims to build India’s largest, fully digital, growth platform for the 60 million+ small and medium enterprises of India.

SOLV strives to support SMEs in tackling their 3 biggest challenges: accessing finance, connecting with their customers, peer, suppliers and employees and simplifying their day-to-day operations by helping them partner with the right business solution providers.

SOLV is currently organising a Vyapar Loan Mela at Delhi's Karol Bagh, the loan mela which started om February 20 would run till February 22.

The loan mela has witnessed an enthusiastic response as hundreds of small businesses have expressed interest in availing unsecured loans facilitated by SOLV.

The Vyapar Loan Mela is an initiative by SOLV to provide a one-stop solution for the credit needs of small businesses that often lack access to formal credit, in partnership with Non-Banking Financial Company (NBFC)'s LendingKart, Indifi and Flexiloans, it aims to customise credit policies to meet the needs of SMEs.

Mr. Manmohan Singh Sehgal, Chairman, Delhi Mobile Traders Association, attended the event as a chief guest. Speaking about the loan mela, he said, “Small businesses are always looking for growth opportunities, but are often held back due to a lack of easily accessible loans at the right time. Many small business owners are not adequately aware of the different options available to them today, to secure loans. A digital platform like SOLV, an initiative of Standard Chartered Ventures, can help overcome these barriers with its financial and business solutions. An event like this loan mela is valuable to small businesses on their growth journey.”

Head of Sales at SOLV Rohit Dawar said “Loans upto 25,000 -50 lakhs would be provided by the organization, ROI would range between 1.5% -2% for different organizations based on how much turnover they have. There would be a very easy criteria for providing loans, they have to just give their GST certificate, pan card and bank statement of the past one year loans would be provided on the basis of these three document.


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