With more than 11 lakh users, 1,300 lenders, U.S. based
Biz2Credit who has already arranged funding of over $1.4 billion in financing in U.S. is all set to revolutionize the Indian Funding market by making finance available to thousands of small and mid-sized companies looking for business loans on best terms.
“India has huge market of around 29 million small businesses and SMEs contribute 45% to the country’s industrial output and to 40% of the total exports. The new trends in SME financing are getting influenced by digital revolution. This includes analytics based lending, peer to peer lending and various other variants. Digital Finance will capture at least 10% of the $ 300 billion Indian Funding market” Said Ramit Arora, President & Co-Founder of Biz2Credit.
The biggest hurdle the SME’s face is adequate and timely banking finance, limited capital besides ability to adapt and use latest technologies, identification of new markets, need for an effective marketing strategy, constraints on expansions and non-availability of skilled labour at affordable cost, including demand side constraints.
The lack of organized credit to small business owners is a gap in the Indian financial market today and an inhibiting factor for growth of entrepreneurship in India. Biz2Credit aims to address this gap with its focused digital offerings to provide capital to thousands of small and mid-sized companies for expanding and growing businesses in India in a fast and efficient manner.
“India has countless small and medium-sized businesses (SMEs), contributing more than 60% to the economy. Entrepreneurs often resort to using personal credit cards, home equity lines or their own savings to fund businesses when there are much better options. Biz2Credit streamlines the loan application process and finds the best deals on loans, lines of credit and other forms of financing,” said Ramit Arora.
“We will help Indian entrepreneurs to quickly secure the funding they need to grow their businesses. We are thrilled to help India''s small business finance industry, digitally. Financing on Biz2Credit’s platform ranges from $5,000 to $5 million and can be coordinated in as little as 24 hours for working capital, commercial real estate and other uses,” added Ramit Arora.
Established in 2007 in the U.S., Biz2Credit is an online marketplace bringing together an array of lenders and fund-seeking entrepreneurs and individuals to arrange online SME loans, lines of credit, equipment loans, working capital and other business funding options as well as consumer loans.
