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AskmePay launches host of financing options for SMEs

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New Delhi: AskmePay, the payment initiative by AskMe group, on Friday announced the rollout of a wide portfolio of financing options to the SMEs with the launch of its new programme ‘AskmeFin’.

This is in line with the group’s ‘Grow with Us’ campaign launched earlier this month and is aimed at providing a variety of working capital loans to SMEs including short-term working capital loans, overdraft limit, loans against receivables and bill discounting facility for SMEs.

The group has also announced a series of strategic alliances to facilitate faster financing for SMEs, irrespective of the size of their business.

It has tied up with Mahindra Finance, Bajaj Finserv, Capital Float, Religare, SMEBank.in and Mandii.com, and will be offering loans ranging from Rs.50,000 to Rs.1 crore to its sellers, available for the tenure ranging from 15 days to six months.

The financing options will be in addition to its array of services that serve SMEs from AskMe, AskmeBazaar, AskmePay, AskmeFurniture and AskmeGrocery.

The alliance partners will be extending easy and quick disbursement of finance to SMEs at competitive interest rates. The unsecured loans will be collateral free and available through easy documentation, thereby equipping them with more working capital.

The other positives of the loans offered by AskmeFin include quicker approval for loans as well as pre-approved offers and easy repayment methods.

Speaking about these alliances, Kiran Murthy, CEO, AskmePay.com, said: “AskmePay has launched this innovative campaign that does away with the conventional paper-based process of lending and enables speedier working capital finance approval to our SME partners, based on digital information available for SMEs and their sales on our portals.”

“The SMEs, who are using AskmePay for their offline transactions, will also be eligible to avail these financing options,” he added.

(IANS)

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CII Partners With WhatsApp to Train SMEs Across India

WhatsApp and CII will also develop informative content to be distributed among entrepreneurs both in physical and digital formats

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WhatsApp selects 20 teams to curb fake news globally, including India. Pixabay

The Confederation of Indian Industry (CII) on Monday announced that it would work with WhatsApp to educate and train small and medium enterprises (SMEs) on how WhatsApp Business app can help them grow their businesses.

Facebook-owned WhatsApp and the CII will work to enhance business communication for Indian SMEs through CII’s SME Technology Facilitation Centre.

The centre was set up in 2016 with the objective of creating awareness amongst SMEs on technological solutions that can be adopted to enhance their overall competitiveness.

“The centre provides an opportunity to its technology partners to expand their market and reach out to SMEs spread through out the country with their product and services,” said Neerja Bhattia, Executive Director, CII.

There will be on-ground trainings for SMEs on the features and best practices for WhatsApp Business app. The business owners will have the opportunity to attend training webinars that will help them grow and expand.

WhatsApp
WhatsApp on a smartphone device.

Launched in January, the WhatsApp Business app helps SMEs enhance their reach with specific tools to make communicating with customers more efficient.

More than three million people are already using the WhatsApp Business app worldwide.

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“Small businesses need to meet their customers where they are, and in India, that’s on WhatsApp. With the WhatsApp Business app, small businesses can easily and efficiently connect with their customers,” said Ben Supple, Public Policy Manager, WhatsApp.

WhatsApp and CII will also develop informative content to be distributed among entrepreneurs both in physical and digital formats. (IANS)