Mumbai, Jul 19 (UNI) CredAble’s wholly-owned subsidiary, Equentia Financial Service Private Limited, has been granted a non-deposit taking Non-Banking Financial Company (NBFC) licence by the Reserve Bank of India (RBI).
Having successfully gained traction with some of India’s leading corporates, the NBFC license will allow CredAble to lend directly to SMEs and MSMEs and access debt markets to optimize its capital structure, providing suppliers with increased access to on-tap funding and untapped lending opportunities such as pre-invoice stage financing within India’s corporate supply chains.
Commenting on the approval of CredAble’s NBFC license application by the RBI, Co- Founder and CEO – CredAble, Mr. Nirav Choksi said,
“CredAble will use its NBFC status to provide short-term working capital solutions to suppliers in select eco-systems which tend to experience mismatched receivables and payables cycles. Oftentimes, these suppliers have limited access to bank financing or simply fall short of the credibility to be deemed ‘bankable’ and therefore have limited or no access to funds. CredAble fills this void by providing liquidity options during the pre-invoice and post-invoice phases.”
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