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ClearTax to enter SME lending biz this fiscal, may tie up with banks, NBFCs

Company's business has come back to 70% of pre-Covid level now

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In FY21, the company expects its growth to moderate marginally though it is hopeful of still logging a 75 per cent growth over previous fiscal

Debasis Mohapatra Bengaluru

3 min read Last Updated : Jun 22 2020 | 9:29 PM IST

Online tax filing platform ClearTax is looking at foraying into lending business with an aim of tapping the rising demand for loans among small and medium enterprises (SME), in the ongoing financial year, The Bengaluru-headquartered firm plans to work as a marketplace for originating loans for SMEs through partnership with lenders like banks and non-banking financial companies (NBFC).

“Through our association with the SMEs, we have realised that the access to credit for SMEs is low. Due to Covid, businesses are in need of credit. So, we have started a new division for this,” said Archit Gupta, founder and CEO

Topics : MSME lending SME lending ClearTax NBFCs

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