SBI launches SBI E-Smart SME to offer loans to e-commerce sellers
State Bank of India has announced launch of SBI E-Smart SME to offer easy working capital to online e-commerce players. The bank has initially tied up with e-commerce major Snapdeal to offer instant loans to its sellers.
About SBI E-Smart SME
SBI E-Smart SME will use data analytics gathered by Snapdeal to assess the sellers credit worthiness, instead of traditional lending based on financial statements like balance sheet and income tax returns.