Lendingkart enters into co-lending pact with Chola to aid SMEs

With this partnership, Lendingkart aims to expand its reach to Tier-2 and Tier-3 cities

October 03, 2022 09:40 pm | Updated 09:40 pm IST - CHENNAI

Lendingkart, a fintech company, on Monday announced a co-lending partnership with Cholamandalam Investment and Finance Co. Ltd. (Chola) to disburse business loans to small and medium enterprises through digital mode.

With this partnership, Lendingkart aims to expand its reach to Tier-2 and Tier-3 cities. Lendingkart’s platform will take care of origination processes with their tech platform using zero-touch features, it said in a statement.

“This collaboration with Lendingkart will facilitate convenience to those SMEs and MSMEs who are seeking business loans, making the overall process faster and seamless,” said Ravindra Kumar Kundu, Executive Director, Chola.

Since its inception in 2014, Lendingkart Group said it has evaluated almost half a million applications, disbursing over 1,40,000 loans to more than 200,000 MSMEs. It has disbursed $1.5 billion worth of loans.

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