MSME-focused digital lending platform FlexiLoans.com on Tuesday announced its partnership with PayPal, a leader in digital payments, to provide freelancers, women entrepreneurs, sole proprietors, and MSMEs with collateral-free business loans.
Through this partnership, PayPal further reiterates its commitment to democratise access to financial services by bringing its global best practices and credit solution capabilities to Indian merchants who sell cross border using PayPal, a joint statement said. PayPal with FlexiLoans.com will aim to offer MSMEs with working capital for business expansion, purchasing stock, inventory, and other business-related expenditures.
The partnership will enable borrowers to access term loans from Rs 50,000 up to Rs one crore through a fast, hassle-free process that requires minimum documentation to merchants across 1500-plus cities and towns in India. The loan tenure will range from 6-36 months, it was stated.