Snapdeal said it plans to disburse Rs 1,000 crore worth of collateral free loans to merchants selling on its platform under its on-going programme, Capital Assist. The festive season offer is available to all sellers and merchants on Snapdeal, Shopo and FreeCharge, which will enable them to stock up for the Diwali spike in sales.
Snapdeal launched Capital Assist in 2014, as a platform to enable easier availability of capital to its sellers.
Speaking about Capital Assist support to accelerate festive preparations, Vishal Chadha, Senior Vice President, Market Development, said, “The festive season provides an opportunity to our sellers to grow their businesses many times over with the sharp increase in demand. Through Capital Assist, we have made the funding process frictionless, so that our seller partners can scale up to their full potential, without any financial constraints. We expect more than Rs. 1000 Crores disbursal to Snapdeal sellers ahead of this Diwali season.”