This post was originally published on The Economic Times
In a bid to address the financial woes of MSMEs, fintech player CredAble’s recently launched ‘Revolving Short-Term Loans’ boasts of being a transformative credit line that can positively impact small businesses.
Designed from a futuristic perspective, these loans aim to address the financing needs of small businesses and significantly cut short the credit turnaround time. In essence, it is a pay-as-you-use working capital credit line that enables small businesses to pay interest only on the funds used. This financing product combines digital assessment with the flexibility of collateral-free borrowing.
Satyam Agrawal, Global Head of Product & Retail Business Lending, MD ASEAN & ME at CredAble says that unlike traditional credit lines, their solution caters to transactions with counterparties that aren’t large entities. “This empowers MSMEs to manage their cash flow effectively and seize growth opportunities. It is particularly beneficial for micro MSMEs which often face erratic cash flows by providing them with a
— Read the rest of this post, which was originally published on The Economic Times.
