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Drip Capital, a US-based trade finance firm, is offering hassle-free, collateral-free post-shipment finance to MSME exporters in Andhra Pradesh (AP) and other parts of the country, according to a press release.
The firm was founded in 2014 by Pushkar Mukewar and Neil Kothari.
According to Ullas Puutambekar, the Director (Business Development), it is done through invoice factoring. This is the process of procuring finance by selling invoices to a third party known as the factor. It opens up a credit line to Micro, Small & Medium Enterprise (MSME) exporters who are in need of it.
He said the exporters in Vijayawada and other parts of AP, especially MSMEs , should make use of the offer and boost agri and other types of exports from the region. As a part of its countrywide campaign, the company held a meeting here recently in association with the Federation of Indian Exporters Organisation (FIEO).
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