Swiggy, the online food delivery platform, announced on Tuesday that it has facilitated the disbursal of over Rs 450 crore in loans to more than 8,000 restaurant owners through its capital assist programme. Launched in 2017, this pioneering initiative addresses the financing gap and empowers restaurant owners.
According to the company’s statement, over 8,000 restaurants have benefited from the programme, with 3,000 availing loans in the year 2022 alone. Swiggy collaborates with various lending partners, including Indifi, Incred, FT Cash, PayU Finance, and IIFL, offering customized financial solutions such as term loans and credit lines.
Swapnil Bajpai, VP-Supply at Swiggy, mentioned, “The NBFCs will soon facilitate more exciting solutions like pre-approved loans to enable our partners to gain easier and quicker access to capital, driving even more growth for their businesses.”
The capital assist programme, in partnership with NBFCs, ensures a swift, easy, and efficient process for providing funds to meet the business needs of restaurant partners—from quick sign-ups to rapid approvals.
