MSMEs onboarding e-marketplaces amid Covid-19 crisis: Flipkart

Bengaluru (Karnataka) [India], June 27 (ANI): E-commerce marketplace Flipkart said on Saturday it has witnessed 125 per cent increase in new seller signing-up on its platform in comparison to its existing seller base during April to June as awareness spreads on social distancing norms in the wake of Covid-19 crisis.
The impact of pandemic has urged businesses across the country to re-think their usual mode of operating and identify newer ways to function. "Local micro, small and medium enterprises (MSMEs) across the nation have realised the true value of e-commerce that enables them to stay connected with millions of customers," said Flipkart.
Uttar Pradesh, Maharashtra, West Bengal, Delhi NCR and Tamil Nadu are the top regions where local MSMEs have shown maximum interest in taking their businesses online. These sellers operate in various categories ranging from women's clothing, personal care, food and nutrition, home improvement tools and baby-care products.
The most important need of seller community in today's times is that of working capital. To address this, the platform launched a special offer on loans through Flipkart's Growth Capital Programme designed specifically to enable independence for MSMEs who operate online.
Through the programme, most of the transacting sellers can avail credit at competitive interest rates with an approval time of one day and disbursal within 48 hours. A three-month moratorium period has been implemented on existing loans.
This means that sellers are not obligated to make a payment during this period. Further, said Flipkart, any additional amount on sellers' existing loans sanctioned during this period will have an extended financial limit with a six-month moratorium period. (ANI)