THAILAND, 5 May 2020 – LAZADA announces partnership with Fintech startup ASPIRE to provide online merchants with instant access to working capital during this COVID-19 pandemic.
Aspire is a digital platform providing financial solutions for small and medium businesses, including credit line applications. In this partnership with Lazada, Aspire is offering working capital loan of up to 20,000 THB within 3 hours of application – a departure from the weeks’ long industry standard timeline normally offered by traditional Banks.
Business owners can apply 100% online through Aspire’s website (www.aspireapp.com/th) with minimal paperwork. The sign-up process can be completed under 5 minutes, and approval is granted within 3 hours of application.
Upon credit approval, working capital can be drawn down immediately to the registered bank account. There are no obligations to draw the full amount, and Aspire will only charge on drawn funds.
The programme is open to new Lazada sellers who have opened their stores for a period as short as 3 months on the Lazada platform. This instant credit line application aims to help online merchants run business as usual in this “new normal”, enabling them to stay competitive in the marketplace.