Vayana: Vayana Network hits $2b in loan disbursals–Economic Times

Vayana Network, which lends to small and medium enterprises, has doubled loan disbursals to $2 billion (Rs 15,000 crore) by end-March, helped by rapid growth in the last three quarters.

“We expect to cross an exposure of $5 billion over the next few years,” said Vinod Parmar, head – global sales and marketing at Vayana Network.

The company took four years to hit the $1-billion mark in July last year.

Vayana works with large companies, or what it calls ‘anchor corporates’, to give trade financing against invoices, either to suppliers or distributors. This helps SMEs meet working capital needs since typical credit cycles extend for about 120 days.

Vayana, which has been working with tier-1 SMEs so far, will later this month launch a scheme aimed at the next level of suppliers and distributors or stockists. Under Vayana Lend, loan tickets would range from Rs 2 lakh to Rs 25 lakh. It is Rs 25 lakh to Rs 40 crore in the case of tier-1 SMEs.

The company is currently the largest third-party lender in the country, and among the biggest GST Service Providers, Vinod Parmar said.

via Vayana: Vayana Network hits $2b in loan disbursals

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