GeM Sahay app launched to enable MSME vendors to get instant loans

GeM Sahay app launched to enable MSME vendors to get instant loans

New Delhi, Jul 29 (KNN) In an effort to address the credit access challenges faced by MSMEs, the Government e Marketplace (GeM) has launched a mobile application called ”GeM Sahay” for businesses that will enable them to take advantage of financing opportunities on the GeM.

According to GeM, this program was designed and tested for the best-selling experience.

”We are grateful for your service on the GeM platform. As a valued GeM seller, your financial progress is of utmost importance to us. As part of our latest initiative, we are pleased to inform you that we have launched an early access program for individual companies that will allow you to take advantage of funding opportunities on GeM”, said an official from several associations. industrial.

“If you are a sole proprietorship, you can avail the funding opportunity through a mobile app called GeM Sahay. This app will allow you to apply for and qualify for short-term financing on purchase orders you receive on the GeM portal. This program will benefit from the participation of the best lenders in the country, offering services at the best interest rates, ‘the mail continues.

Service through the app will be free and no fees other than the interest rate charged by lenders will be payable.

“You (the sellers) will be able to select which orders you want to share with lenders for funding. Lenders will come back with loan offers on shared orders in real time!” he added.

GeM said that detailed terms and conditions will be shared with vendors before availing the funding opportunity and consent for sharing their GeM related data will also be requested for the same.

”If you are interested in knowing more and would like to subscribe to this early access service as an early adopter, please check this now: https://gem.gov.in/sahay”, he said affirmed.

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