Piramal Finance and Paytm collaborate to provide loans to small businesses and traders

10 Aug 2022 , 10:43 AM

Paytm and Piramal Capital & Housing Finance have partnered to make merchant loans more accessible in India’s smaller towns and cities.

With maturities ranging from 6 to 24 months, merchants will be eligible for a maximum credit amount of Rs10 lakh.
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According to Paytm, the company’s cooperation with Piramal Finance would eventually encompass personal loans. Piramal Finance has accumulated a sizable base through the acquisition of numerous merchants in both large and small cities throughout the nation.
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Piramal Finance intends to use this base to ease credit for small business owners through data-driven underwriting and credit sanctions based on business income. Personal loans will soon be included in this agreement, where Piramal Finance will contribute its in-depth knowledge of risk and consumer segments.
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The agreement, according to the corporation, would also promote financial inclusion by giving shops and small enterprises access to loans.