Global logistics firm Tiger Logistics (India) on Monday said it has signed a pact with online loan marketplace OneNDF to facilitate collateral-free cargo value financing for SME exporters.
The tie-up will also help Tiger Logistics integrate the financing solution with its digital freight booking and management platform FreightJar to provide enhanced access to cash to these exporters, it said.
The cargo value financing solution will enable 90 per cent of export invoice value to be financed within 48 hours, the company claimed.
SME exports are crucial to the economy, and bridging and bringing access through short-term funding will open up new opportunities for us to scale in the SME segment, Harpreet Singh Malhotra, chairman and managing director, Tiger Logistics (India) Ltd, said.
The association with OneNDF will enable the company's SME customers to access working capital seamlessly without any collateral, he added.
The collaboration will help Tiger Logistics scale its exports in sea and air cargo and explore its growth potential through deeper market access of the SME sector, the company said.
The solution will also be facilitated by a choice of multiple lenders, allowing SME & MSME exporters to secure capital at low-interest rates, it said.
We understand how timely access to capital could act as a catalyst for an enterprise's growth. This collaboration is going to enhance the value our customers derive, giving them a one-stop solution ranging from their logistical to debt financing needs, said Nitin Khandelwal, co-founder and CEO, OneNDF.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)