For rendering assistance to the SMEs and MSMEs who we’re facing liquidity challenge during the Covid pandemic, CredAble – A Supply Chain Financing focused FinTech has disbursed Rs. 2,500 crores across its various programmes.
The beneficiaries who were a part of this extensive outlay include thousands of vendors that face challenges in continuing their operations due to the lack of this working capital injection.
CEO & Co-Founder of CredAble, Nirav Choksi said, “Standing strong on our mission we at CredAble lend a hand to our clients’ needs which is possible by developing strategies via the flexible business model we have built for providing vendors and distributors/dealers of large corporates with working capital financing on-demand, irrespective of size or credit.”
As mentioned in the official communique, CredAble sourced the capital from both its own NBFC as well as a network of financial partners and in the past few months.
Choksi further added, “We are providing vendors to meet operating expenses and reduce working capital cycles from the traditional 90 days to less than 24 hours meeting the needs of every cash-starved SME and MSME in our ecosystem without having them to follow a lengthy procedure. I would also like to thank the entire team of CredAble along with our financial partners who could make it possible”
Ram Kewalramani, Co-Founder & Chief Operating Officer of CredAble stated, “The company harnesses its technology prowess to fund vendors at a pre-invoice stage against certain milestones and while providing 2500 cr to the cash starved SMEs/MSMEs, the book size in the past months has up surgedby 6 times the current volumes. And the beneficial factor for clients throughout has been the consistent interest rate suitable as per the needs of the borrower. While operating with several prominent players in the e-commerce, media, logistics, automotive, and infrastructure industries, we maintain an effortless and straightforward procedures on our platform. At CredAble, we enable vendors to get paid early while giving their end clients the option to maintain or even extend their DPOs, which equips them with quick working capital and assists in growing their business.”
Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/
