CoinTribe signs MoU with NSIC under Bank Credit Facilitation Scheme

New Delhi, August 28, 2019: CoinTribe, one of India’s leading online lending marketplaces, has signed a Memorandum of Understanding (MoU) with National Small Industries Corporation Ltd. (NSIC). The MoU has been signed to provide collateral-free business loans to Indian SMEs via the Finance Facilitation Centre (FFC) Portal.

NSIC is a Govt. of India enterprise (under the Ministry of  MSME ) that works to promote and support the growth of Indian MSMEs. CoinTribe, on the other hand, is a credit-based lending marketplace that provides unsecured and collateral-free loans at best available interest rates . Cointribe operates an online lending platform that enables MSEs to get loans efficiently.

Speaking on the development Manish Chaudhari, COO and Co-Founder,CoinTribe said, “CoinTribe is driven with a vision to eliminate the prevalent credit gap in the MSME segment. India is on a rapid rise in the global scenario and we believe that MSME loan extension is going to further add fuel to this ongoing trend. Perhaps, enabling it to attain a double digit growth rate. We are extremely delighted to sign the MoU with NSIC and would like to thank them for trusting us to change the status quo. This will bring a win-win situation for all stakeholders including NSIC, CoinTribe, our lending partners, and above all, the MSME segment and the economy at large.”

It will help CoinTribe move closer to its mission of using avant-garde technologies for credit assessment and extending capital to creditworthy businesses, ultimately enabling them to realize their true potential.