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25Sep By PriyankaNo Comments

BUSINESS

Fast Loan Options For Your Small Business

Cash flow problems are a common and dangerous threat for many small business owners. But even if they’re able to maintain a reliable cash flow, it is still not always sufficient enough to put all their plans into action. In most cases, they would need some form of financing to cover unexpected expenses or help expand their business. Banks are the traditional provider of business loans. But while they’re a good option to keep loan costs down, it can take months to get your money, plus they usually won’t lend to small businesses. If your small business is in a financial shortfall and needs financing as soon as possible, here are some fast loan options that are worth considering. Business Cash Advance Loans Business cash advance loans are an advance on your busine...

Facebook offers Loans to Small businesses in India

20Aug By AnkitaNo Comments

News

Facebook offers Loans to Small businesses in India

New Delhi, 20 Aug 2021: Facebook India announced an initiative known as the ''Small Business Loans Initiative'' in partnership with Indifi to help small and medium businesses (SMBs) get quick access to credit through independent lending partners. India is the first country for Facebook where this program is getting rolled out. The program is open to businesses registered across 200 towns and cities of India. Through Facebook's partnership with Indifi, small businesses that advertise with Facebook can get loans between Rs 5 lakh ($6,720) to 50 lakh ($67,200) at a predefined interest rate of 17-20 percent per annum, and applicants will not be charged a processing fee. Indifi will also disburse the loan amount within five working days of the borrower completing all documentation for...

Square launch banking services for Small Businesses

20Jul By AnkitaNo Comments

News

Square launch banking services for Small Businesses

SAN FRANCISCO, 21st July 2021-- Square launches Square Banking, a suite of financial products purpose-built to help small business owners easily manage their cash flow and get more out of their hard-earned money. Coming on the heels of Square’s industrial bank, Square Financial Services, beginning operations in March, Square Banking represents a major milestone in Square’s continued efforts to expand access to financial tools for underbanked populations and marks the beginnings of the company’s journey to provide more banking solutions to small businesses. “Small businesses are the heartbeat of our communities and our economy. From our earliest days, Square has focused on building easy-to-use tools and services to empower entrepreneurs to succeed on their own terms,” said Christina...

American Express to Acquire Lending firm Kabbage

18Aug By AnkitaNo Comments

ACQUISITION

American Express to Acquire Lending firm Kabbage

NEW YORK, 18th Aug 2020-- American Express ( NYSE: AXP ) announced that it has entered into an agreement to acquire Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward the American Express goal of being an essential partner to small businesses through a broad range of payment, cash flow, and financial management tools. Under the terms of the agreement, American Express will acquire Kabbage’s team and its full suite of financial technology products, data platform and IP built for small businesses. Kabbage’s products include access to flexible lines of credit, online bill payment, cash flow visualization tools, e-gift certificates, and the ability to centralize ...

2Mar By Press Trust of IndiaNo Comments

FUNDING

SMEcorner raises USD 30 mln in Series B funding

Fintech firm SMEcorner has raised USD 30 million (around Rs 210 crore) through a combination of equity and debt in series B funding. The funding round was led by Paragon Partners, which invested USD 10.5 million, and the balance came from existing investors including Quona Capital, Accion Venture Lab, Bharat Shah and few other high networth individuals, according to a company release. "The additional capital will enable us to reach over 20,000 new customers and grow our distribution in the coming year," SMEcorner's founder and CEO, Samir Bhatia, said. Bhatia has also made an undisclosed investment in the current round of funding. The funds raised would go towards rapid business scale-up, lending partnerships and market expansion in the coming financial year. The SME-focusse...

Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion

24Jun By AdityaNo Comments

FUNDING

Fintech Startup LoanTap Raises Rs 26 crore For Business Expansion

LoanTap Financial Technologies today said it has raised USD 4 million (about Rs 26 crore) in second round of funding, which will be invested in software and expand its footprint in tier 2 and 3 cities. "LoanTap Financial Technologies, an online personal loan company with in-house NBFC, has announced closing of its second round funding at USD 4 million," the company said in a statement. Post funding, LoanTap aims to bolster collection features in its software, besides reaching out to Tier 2 and Tier 3, major capital cities and business hubs. The fund raising round comprises of a mix of equity and debt instruments from Kae Capital, India Quotient, IFMR and MAS Financial Services Ltd. "Equity infusion to the platform was led by Kae Capital with participation from its existing inve...