California-based Biliti Electric has introduced that the Small Industries Development Bank of India (SIDBI), has authorized to finance clients who’re thinking about buying GMW Taskman electrical 3W Autos, via its ‘Digital Prayaas’ program.
‘Digital Prayaas’ is an app-based digital lending platform to facilitate borrowings for micro-entrepreneurs/micro-enterprises. Further, SIDBI has additionally tied up with BigBasket to onboard its supply companions throughout the nation and supply loans at a decrease rate of interest for the acquisition of electrical autos.
The improvement permits BigBasket supply companions to buy GMW Taskman 3W autos at an 8-10 p.c rate of interest. Biliti’s Taskman car is the primary within the e-van section to get financing approval as a part of this system.
Biliti Electric at the moment operates via an unique manufacturing partnership with Hyderabad-based Gayam Motor Works (GMW) for manufacturing its three-wheelers. Biliti’s Taskman is a last-mile supply car that’s deployed in 15 international locations throughout the globe together with Japan, the USA, the UK, France, Portugal, Germany, Lebanon, Uganda, Kenya, Senegal, Nepal, Bangladesh, Dubai, and India.
Sivasubramanian Ramann, Chairman and MD, SIDBI stated “The App facilitates speedy onboarding of loan applicants in a digital and integrated process which has made the entire programme scalable with better risk management and would further improve customer satisfaction.”
Hari Menon, CEO, BigBasket stated, “The initiative to offer loans will have a positive impact on the livelihood of hundreds of our delivery associates and also fulfils its social objectives.”
Source: www.financialexpress.com”