Biz2Credit, a leading online resource for small business finance, today announced that it has entered into a strategic alliance with Tally Solutions Pvt. Ltd., a multinational company that provides accounting software to small and mid-sized businesses.
This alliance will enable easy access of finance to thousands of small and mid-sized companies in the country.
Biz2Credit has provided more than USD 2 billion in financing to thousands of small and mid-sized companies.
"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," said Ramit Arora, President of Biz2Credit
Through the Biz2Credit-Tally Add On, lenders can access financials, GST returns, P&L 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. If yes, the Biz2Credit platform will generate a unique ID that the customer will use to invoke the 'Add on'.
With this add on feature, users will be able to share relevant financial data instantly with Biz2Credit lenders. This data can be further used for establishing veracity of financial statements and underwriting.
"Biz2Credit's digital lending platform has several innovative features that enable lenders to focus on providing credit to small business customers and reducing risk, thereby increasing growth and cutting operational overhead," Arora added.
He said, "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.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)