According to FMO website, Lendingkart Finance Limited is a non-deposit taking NBFC providing SME lending in India. Lendingkart proposes using the funding from FMO to grow the Company's micro, small and medium enterprises lending portfolio.
FMO asserts that the loan to Lendingkart achieves their goals of providing access to finance. Traditional bank underwriting excludes a large portion of creditworthy SME borrowers because they do not have reliable financial statements, a credit history ("thin file" customers), equipment or similar assets that can be provided as security for a bank loan. Lendingkart assesses creditworthiness based on bank statements and creates a financial statement from cash-flows through the bank account.
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No project contacts available at the time of disclosure.
ACCOUNTABILITY MECHANISM OF FMO
Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/