The company decided to come up with a solution to offer trade finance which would help its customers (SMEs) in meeting their capital requirements and help them overcome the burden of arranging funds when suddenly a big order is received. Company officials said that the access to finance would allow SMEs to take and execute recurring orders effectively.
The organization said that one of the major challenges being faced by small and medium enterprises is timely availability of funds. About 50% of requests for trade finance by SMEs are rejected by banks due to varied reasons, resulting in a funding gap of USD 1.5 trillion annually, the company said in a statement. Connect2India offers global trade intelligence, resources and tools on its integrated trade platform.
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