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ReshMandi launches new venture to offer personalized credit solutions

  

India’s largest farm-to-fashion natural fibre digital ecosystem, ReshaMandi launched its new venture ReshaMudra to offer personalized credit solutions for the textiles industry. ReshaMudra will give business partners across the ecosystem access to working capital solutions as well as long-term loans, enabling them to secure crucial funding to help them grow their businesses or tide over challenging times. All of these offerings are subject to regulatory approvals from respective authorities.

The suite of services offered by ReshaMudra are aimed to be cost-effective with quick turnaround time, thereby creating an engaging customer experience.

A majority of India’s micro, small and medium enterprises currently face working capital pressures as they lack access to credit. Today, only 20% of their credit needs are met by the formal sector and 40% by the informal sector. ReshaMudra aims to bridge this need gap, enabling MSMEs to expand their operations and thereby boost revenues, margins and profits.

ReshaMudra with its strong focus on PSL and MSME segment for lending across Tier II - IV cities aims to have exclusive tie- ups with banks and NBFCs to facilitate business growth with moratorium period upto 3 months, attractive interest rates and a turnaround time of seven days for farmers, yarn manufacturers, manufacturers, exporters, traders/distributors and mill owners.

In an industry-first, ReshaMudra will also offer short-term financing in the form of the Buy Now, Pay Later (BNPL) scheme. This is a type of financing that allows consumers to make purchases and pay for them at a future date. Buy Now, Pay Later in B2B is the key to unlocking SME growth, as it frees up inclusive credit to the underserved SMEs in India.

 
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