You are here: Home » News-ANI » Business
Business Standard

Biz2Credit establishes strategic alliance with Tally Solutions

Topics
Business Finance

ANI 

Biz2Credit, a leading online resource for small 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 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 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 industry, digitally.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, June 08 2018. 18:00 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU