– Plans to disburse INR 100 CR in the next 6-9 months at 0% interest
– The Travel agents can avail up to INR 50 lakh with no collaterals, security, or guarantors
Mumbai, 12th October 2023: SanKash, India’s leading travel fintech today announced the launch of a new service – A no-cost Working Capital program. Under this new initiative, SanKash plans to disburse INR 100 CR in the next 6-9 months at 0% interest. The aim of the initiative is to provide the much-needed timely financial boost to travel agents, helping them operate smoothly, grow their businesses, and serve their customers better.
The biggest advantage is the travel agents can secure the funds they need without incurring any interest costs, making it an affordable and attractive financial solution. Moreover, the program is designed to be flexible, allowing travel agents to use the working capital for various business needs, such as covering operational expenses, marketing efforts, or expanding their service offerings.
The Travel agents can avail up to INR 50 lakh with no collaterals, security, or guarantors to qualify for the no-cost working capital program. According to several industry reports, there are nearly 3 lakh travel agent businesses catering to the holidaymakers. These are scattered across categories of service providers such as travel packages, cab and bus bookings companies. This segment will be worth an estimated $65 billion by 2027.
Speaking on the initiative, Akash Dahiya, Co-founder & CEO, SanKash, said, “Our No-Cost Working Capital initiative for Travel Agents, which aims to disburse 100 CR in the next 6-9 months at 0% interest, represents a pivotal moment not just for SanKash but for the entire travel industry. We recognize the indispensable role that travel agents play in curating exceptional journeys and ensuring seamless experiences for travelers worldwide. We firmly believe that a thriving travel industry is built on cooperation, innovation, and the financial well-being of its key players, and with this initiative, we are excited to take the industry to new heights.”
The tourism sector in India is on track to become a trillion-dollar industry by 2047, generating around 400 million job opportunities, according to a report by Visa and EY. The travel agents typically incur a high-interest cost ranging from 18-24% otherwise. With this initiative, travel agents can realize substantial cost savings, thereby improving their overall financial health. SanKash’s no-cost working capital program empowers travel agents to optimize their operations, offer competitive prices, and achieve better profit margins. This support ultimately contributes to the long-term success and sustainability in the travel industry.
