In a significant development, Biz2Credit, a leading online resource for small business finance, today announced that it has signed a strategic pact with Tally Solutions Pvt. Ltd. – the leading business software provider.
Biz2Credit, so far has provided more than $ 2 billion in financing to thousands of small and mid-sized companies. Going forward, with the help of the newly-inked arrangement, the company believes that it would be able to facilitate much easier and speedier access of finance to thousands of small and mid-sized companies in the country.
“The small business lending sector is one of the biggest contributors to the India growth story. While MSMEs are a priority area for lending by financial institutions, access to credit for entrepreneurs in India still is limited. Our alliance with Tally Solutions will help Indian entrepreneurs to quickly secure the funding they need to expand their companies. We are thrilled to help Tally Solutions expand its footprint in India’s small business finance industry, digitally.” said Ramit Arora, President of Biz2Credit.
As per official sources, through the Biz2Credit-Tally Add-On, lenders can access financials, GST returns, Profit and Loss statements for small businesses that use Tally. Lenders using the Biz2Credit platform in India can check during customer acquisition if the small business owner is a Tally user or not. If yes, the Biz2Credit platform will generate a unique ID that the customer will use to invoke the ‘Add-on’, using which users will subsequently be able to share relevant financial data instantly with Biz2Credit lenders. This data can also be further used for establishing veracity of financial statements and underwriting.