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Lendingkart partners Bank of India to co-lend mudra loans to MSMEs

December 02, 2022

Lendingkart partners Bank of India to co-lend mudra loans to MSMEs
Digital lending platform Lendingkart has partnered with public sector lender Bank of India for a co-lending agreement to cater to the growing credit demand from the MSME sector.

The tie-up with lead to last-mile collateral-free finance to over 5,000 customers with disbursals of ₹1-10 lakh loans up to ₹250 crore under Mudra loan. Lendingkart said it will use its technology platform 2gthr for disbursing credit. 2gthr is a co-lending software-as-a-service (SaaS) platform by the company built for banks and NBFCs to onboard within two weeks and give loans to MSMEs.

“The partnership will enable Bank of India to leverage Lendingkart’s technological capabilities with the assistance of platforms such as ‘Xlr8’ for Zero-touch and ‘Cred8’ for underwriting business loan applications using cash-flow-based assessment. Similarly, Lendingkart will gain access to the Bank of India’s liquidity to support its vision of financial inclusion,” Lendingkart said in a statement.

Harshvardhan Lunia, CEO & Founder at Lendingkart said, “Our growing partner base comprising of marquee banks and co-lenders are enabling us to take a step forward towards realizing our aspiration of strengthening MSMEs through an effective collaboration.”

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