New Delhi, Oct 3 (SocialNews.XYZ) Online food delivery platform Swiggy on Tuesday said it has facilitated over Rs 450 crore in loan disbursal to more than 8,000 restaurant owners as part of its capital assist programme.
Launched in 2017, the capital assist programme is a first-in-the-segment solution designed to bridge the financing gap and empower restaurant owners.
Over 8,000 restaurants have availed loans so far, of which 3,000 availed loans in 2022 alone, the company said in a statement.
Partnering with multiple lending partners, including Indifi, Incred, FT Cash, PayU Finance, and IIFL, Swiggy offers tailored financial solutions like term loans and credit lines.
“The NBFCs will soon facilitate more exciting solutions like pre-approved loans to enable our partners to gain easier and quicker access to capital, driving even more growth for their businesses,” said Swapnil Bajpai, VP-Supply, Swiggy.
From quick sign-ups to even quicker approvals, through capital assist programme, the NBFCs take a fast, easy, and efficient approach to provide funds for restaurant partner’s business needs.
“We have done three rounds of financing so far and have used these funds for our working capital requirements. The entire process from the application to receiving funds is incredibly quick, efficient, and transparent,” said Aarti and Sumit Rastogi, owners of ARTINCI -- Indulge Guilt Free! in Bengaluru.
Source: IANS
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz