Vayana Network partner with PCPDA to offer financing program to the retailers and distributors
Vayana Network partner with Pune Consumer Products Distributor Association (PCPDA) to offer financing program to the retailers and distributors of Pune
Mumbai, February 16, 2022: Vayana Network, one of India’s largest trade finance platform, today announced its partnership with Pune Consumer Products Distributor Association (PCPDA). Through this partnership, Vayana Network will offer a last mile retailer financing program to the retailers and the distributors in the region.
Vayana Network’s retailer financing program is designed to address the challenges faced by the distributor and retailer community. Distributors often deal with a mismatch in cashflow, either due to giving credit to retailers or having to make upfront purchases when transacting with corporates. On the other hand, retailers are devoid of access to Supply-chain Financing (SCF) programs.
Vayana Network’s product allows retailers to avail finance for the purchases they make through PCPDA member distributors. Additionally, retailers have the opportunity to be part of formal banking channels and get funds at affordable rates. The product is offered to retailers based on their historical trade data derived using GST returns or the ledger information.
Speaking about the partnership, Mr. Jitin Nanda, Business Head, Vayana Network said, “This program resonates with Vayana Network's vision of increasing the GDP of Supply Chains by reaching out to the smallest of businesses and connecting them to the largest of lenders. Vayana Network’s proprietary technology has made it possible for SCF to be extended to the last mile retailers, who are a very important element in the supply chain of an FMCG business. Through this partnership with PCPDA, we look forward to offer the retailers and distributors with instant access to the last mile retailer finance solutions, in turn enabling an increase in sale and turnover for all stakeholders in the supply chain”.
Speaking about the partnership with Vayana Network, Mr. Anand Munot, President, PCPDA said “The distributor and retailer communities, largely being a traditional business segment, have long faced challenges related to access to affordable working capital. Fact is that business loans are offered against fixed assets, which are non-existent in case of retailers or kirana store. Our partnership with Vayana Network comes at a time when the business landscape is evolving at a rapid rate, opening new growth opportunities for the MSME sector. Through this collaboration, we hope that our distributors and retailer network grow their businesses and be credit ready. “