Snapdeal, India’s largest online marketplace, announced that it has lined up collateral free loans worth Rs 1000 crore for its sellers to enable them to stock up for the Diwali spike in sales.
The festive season loans would be disbursed through its on-going programme, Capital Assist, which is now managed by FreeCharge and is available to all sellers and merchants on Snapdeal, Shopo and FreeCharge.
Speaking about Capital Assist support to accelerate festive preparations, Vishal Chadha, senior vice president, market development, said, “The festive season provides an opportunity to our sellers to grow their businesses many times over with the sharp increase in demand.
Through Capital Assist, we have made the funding process frictionless, so that our seller partners can scale up to their full potential, without any financial constraints. We expect more than Rs. 1000 crores disbursal to Snapdeal sellers ahead of this Diwali season, said Vishal Chadha, vice president-market development at Snapdeal.
Apparel & Textile News – Apparel Talk, Indian Apparel
