Tata Capital with Biz2Credit to finance SME's
With the aim to provide finance to small and medium size businesses, Tata Capital, the financial services arm of Tata Group, has partnered with Biz2Credit, a leading online resource of finance for small businesses.
According to a company release, the partnership will allow Tata Capital to use the acquisition network of lending marketplace of small businesses on Biz2Credit. This way, it helps the Tata Capital to make available the finance to thousands of small and medium enterprises in India.
“Besides, Tata Capital will also get the benefit of having access to the whole range of Biz2Credit’s solutions that includes data and risk analytics by way of BizAnalyzer Score to finance small enterprises transactions,” it said.
According to the release, Govind Sankarnarayanan, COO of Retail Business and Housing Finance, Tata Capital, said that today the absence of organised lending to small businesses is a gap in the financial market in India and a major factor hindering the entrepreneurship growth in the country. Therefore, the aim of Tata Capital is to bridge this gap through its focused digital solutions.
Commenting on the tie-up, Rohit Arora, CEO of Biz2Credit, said that the tie-up with Tata Capital will help the entrepreneurs in India to quickly get the required funding, needed to grow their businesses.
The range of finance offerings on Biz2Credit’s platform is between $5,000 and $5 million and can be swiftly coordinated in minimum time of one day for working capital, commercial realty sector and other purposes.
