Lendingkart, a pioneer in financial services and leading fintech company offers has been effectively engaging with women led MSMEs in empowering them with varied financial/lending options to scale their business and fuel the next wave of growth in the country. Lendingkart has raised USD 15 Mn from Dutch financial institute FMO Entrepreneurial Development Bank to support women entrepreneurs encouraging scores of women entrepreneurs to join the platform in the new financial year.
Commenting on empowering the women entrepreneurs throughout the country, Harshvardhan Lunia, CEO & Co-founder at Lendingkart said, “Women have always been powerhouses of growth and stability. They have been all-rounders in various segment of Indian economy bringing innovative solutions to solve problem statements and creating impact across various aspects of business and society. We, at Lendingkart, have always believed in the potential of these entrepreneurs and our specialized product like working Capital loan for Women across platforms Lendingkart xlr8, Lendingkart 2gthr aims to provide a level playing field for them. We are proud to contribute to the journey of these women entrepreneurs who are leading the change and contributing to India becoming a 5 trillion-dollar economy.”
According to the consortium of Indian Associations, women-owned enterprises represent approx. 12% of the total micro, small and medium enterprises (MSME) in India. With an aim to empower and give an impetus to women entrepreneurs, Lendingkart has been at the forefront in extending credit facility to support this critical segment across the countries.
One such example of a women led entreprise comes from Hyderabad. Ms. Sarojini Hota, an apparel business owner availed of a loan facility from Lendingkart. Initially struggling to understand the required paperwork and due diligence process, Lendingkart guided Ms. Hota through the loan disbursement process, which includes providing minimal documentation, completing KYC digitally, e-signing the agreement. Within a short time of timespan of less than a year, she scaled her business geographically by opening more branches in the area. She is planning to extend her apparel business outside the city and is in the process of applying ofavailing another loan credit facility from Lendingkart to aid further expansion.
Ms. Urmila Shriwardhankar, owner of a Pet Store in Hyderabad, marks another inspiring beneficiary story. In pursuit of a loan from a bank, Urmila faced multiple disappointments and challenges with the laborious documentation process. Thereafter, she applied for a loan from Lendingkart wherein she swiftly secured a loan to expand her business by investing in brand building and social media investments.
During the Covid-19 and the subsequent lockdown, MSMEs which are the backbone of the economy have been adversely impacted by pandemic. Since inception and especially during the pandemic, Lendingkart has been at committing to empowering the Indian MSME ecosystem partnering with entrepreneurs to address their working capital requirements while handholding them through the lending process and its financial benefits and facilities.