Amazon India, InCred join hands to offer credit to e-commerce retailers-Business Journal

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MUMBAI: InCred has entered into a strategic partnership with Amazon India to provide collateral-free, working capital loans of up to Rs 50 lakh to Amazon merchants via its seller portal.

Owing to the ongoing pandemic, more consumers have made a shift to online shopping, leading to a surge in e-commerce. However, this development is adding to the pressure of e-tailers as they are not able to match the supply with demand on ground.

The InCred and Amazon India partnership aims to resolve this challenge by addressing the financial constraints of the Indian e-tailers. Both intend to empower them by extending quick, easy, and low-interest working capital loans based on their revenues, with minimal documentation and flexible repayment options. This capital can be used by them for capacity expansion or immediate business liabilities, thereby adding to the operational flexibility of their business.

In a statement, Saurabh Jhalaria, CEO – SME business, InCred said, “Today, India is passing through an unprecedented period. During such testing times, we feel that it is our responsibility to ensure that the economic engine of our nation stays revving while people can also avail of their basic necessities at their doorsteps. Our partnership with Amazon is in line with this vision.”

“This program enables sellers on the marketplace to avail affordable credit to meet their growth and working capital requirements. Our partnership with InCred aims is to provide faster capital needs at affordable rates to our sellers across India,” said Vikas Bansal, Director – Amazon Pay India, in a statement.

At present, merchant loans are available across 10 states including Maharashtra, New Delhi, Telangana, Rajasthan, Tamil Nadu, Gujarat, Punjab, Andhra Pradesh, Karnataka and Haryana. The duo aims to gradually take the partnership to the pan-India level by adding more states to the list.



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