New Delhi [India], Oct 4 : Wydr enters into strategic partnership for preferential rates with multiple online lending companies such as Lendingkart, CapitalFloat, Indifi and Flexiloans.
These partnerships are aimed at offering easy and collateral-free working capital loan to the retailers with minimum documentation.
Adding to joy of the retailers, when they buy goods on credit on Wydr's platform, Wydr will reimburse interests incurred till Diwali.
Therefore, retailers can tide over the surge in working capital needs and let business gear up to meet demand.
"Conventionally Diwali as a festival, holds special significance to the business community in India. Understanding the pain points and need for high value short duration funds Wydr designed the Unique Interest free Loan plan to boost the trading capacity of our associate retailers, this festive season.
This is a three-point association that not only aid Wydr's associate retailers to bolster their business this Diwali, but also add to Wydr's business capabilities in return, while also contribute to exponential expansion the lenders' industry portfolio," said Spokesperson, Wydr.
Factoring in the contemporary festive trends, One of Wydr's associate retailers said, "Diwali accounts for approximately 40 percent of our annual sales in appliances, electronics, fashion and home decor.
This directly impacts our capital requirements, which shoot up exponentially during Diwali, as we need to cater to a massive consumer demand.
This association establishes that Wydr has its fingers firm on the pulse of the market and adopts strategic tactics that not only adds to the transactional capacity of its platform, but also augments the business status co of the entire community." Wydr fathoms and appreciates the buying cycle and business requirements of the offline retailer and therefore designed this Diwali promotion, tailored to their needs - Wydr Buying Power Offer.
As a part of this offer, when a retailer's collateral - free loan gets approved by Wydr's lending partners; the buyer gets WydrCredit to buy goods on the platform.
The promotion is only applicable on loans taken from now to Diwali 2016. Also, the maximum interest rate subsidy is 1.25 percent per month..