Akme Fintrade Partners with MAS Financial Services for Co-Lending inMSME Sector
Mumbai, September 26, 2024: Akme Fintrade (India) Limited (INE916Y01019), one of the leading technology-driven lending platform, has entered into a strategic co-lending partnership with MAS Financial Services Limited to provide MSME loans. This collaboration is aimed at enhancing credit access to the underserved MSME sector through a seamless digital lending platform.Under this co-lending model, AKME will bear 20% of the loan exposure, while MAS Financial will take on the remaining 80%. The platform ensures a fully digital loan sanction process, covering the entire loan lifecycle from customer onboarding to disbursement and monitoring without the need for manual intervention, making loan approvals and processing faster and more efficient.About Akme Fintrade (India) Limited
Speaking on the partnership, Mr. Akash Jain, CEO of Akme Fintrade, stated, “The co-lending model was introduced by the Reserve Bank of India to address liquidity challenges faced by non-banking finance companies (NBFCs) and boost credit flow to underserved sectors. This initiative allows us to make funds accessible to the end beneficiaries at a more affordable cost. This partnership will enable Akme Fintrade to extend its reach in rural and semi-urban areas, providing crucial financial support to small business owners looking to expand their operations. The co-lending model is pivotal in helping us address the financial needs of these underserved communities.”
Akme Fintrade (India) Limited is a BSE and NSE Listed company. Incorporated in 1996, Akme Fintrade is a non-banking finance company (NBFC), offering vehicle and business loans in rural and semi-urban geographies. The company provides lending solutions for rural and semi-urban populations. Its portfolio comprises Vehicle Finance and Business Finance Products for small business owners. Their key borrowers are individuals and small business owners requiring vehicle loans and business finance. The vehicle financing comprises used commercial vehicles, 2-wheeler loans, and used 2