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GeM Sahay app launched to facilitate MSME sellers get instant loans

(KNN) In a bid to address the credit access challenges faced by MSMEs, the Government e Marketplace (GeM) has launched a mobile application called ''GeM Sahay'' for proprietorships which will enable them to avail financing opportunities on the GeM.

According to GeM, this program has been designed and tested for the best seller experience.

''We are thankful to you for your service on the GeM platform. As a valued GeM seller, your financial progress is of utmost importance to us. As part of our latest endeavour, it is our pleasure to inform you that we have launched an early access program for proprietorships which will enable you to avail financing opportunities on GeM,'' an official to several industries association said.

''If you are a proprietorship concern, you can avail the financing opportunity through a mobile application called GeM Sahay. This application will enable you to apply for and avail short term financing on the Purchase Orders that you receive on GeM portal. This program will has participation from the top lenders in the country, offering services at the best interest rates,'' the mail read further.

The service through the app will be free of charge and no fee whatsoever apart from the interest rate being charged by the lenders would be payable.

'' You (sellers) will be able to select your orders of choice that you would like to share with lenders to avail financing. The lenders will come back with loan offers on the shared orders in real time!'' it added.

GeM said that the detailed terms and conditions will be shared with sellers prior to availing the financing opportunity and consent for sharing their GeM related data will also be sought for the same.

''If you are interested to know more and wish to subscribe to this early access service as an early adopter, please check this out now: https://gem.gov.in/sahay,'' it asserted.