CredAble brings ‘Revolving Short-Term Loans’ for smaller ticket-size borrowers

By Gloria Mathias

CredAble, a FinTech offering working capital financing, has announced the launch of its new product, Revolving Short-Term Loans, within its new MSME lending vertical.

As MSMEs struggle with limited access to credit and borrowing opportunities, CredAble is playing a pivotal role in tackling these challenges and strengthening supply chains with its working capital financing platform. The company has been empowering MSMEs with affordable and timely working capital financing and facilitating on-time payments to strengthen their local and global supply chains.

On International MSME Day, FinTech announced the launch of Revolving Short-Term Loans in a bid to step up its efforts in democratising access to credit and empowering MSMEs with purpose-built solutions designed to solve their working capital challenges.

With this launch, CredAble is diversifying its portfolio by including smaller ticket-size borrowers. The Revolving Short-Term Loans product launched by CredAble is a novel product that combines term and working capital demand loans. The new offering leverages CredAble’s low-code technology to revolutionise underwriting processes and set new benchmarks in the MSME financing space.

This solution provides instant, collateral-free, on-demand working capital with quick credit evaluation and repayment schedules aligned to MSME cash flows.

Gaurav Varshney, EVP Product and Head of SME Lending, said, “We are cognizant that MSMEs have a growing need for short-term, small-sum credit. Revolving Short-Term Loans removes the buyer’s credit rating dependency, facilitating MSME-to-MSME transactions. By introducing this flexible lending (without locking anchor’s receivables), we aim to provide more liquidity and on-time financing as per business requirements.”

Nirav Choksi, Co-founder and CEO of CredAble said, “This is a testament to CredAble’s commitment to addressing the growing working capital needs of MSMEs. Backed by low-code technology, we can quickly develop and launch new financial solutions and handle an increasing number of small-ticket borrowers without compromising on service quality. With the launch of our new MSME lending vertical, we are uniquely positioned to enhance small businesses’ access to affordable sources of capital.”