Poonawalla Fincorp ties-up with AIOCD for loan offerings to its members

Poonawalla Fincorp has partnered with All-India Organization of Chemists & Druggists (AIOCD) to offer loans at special rate of interest to its members across India. Through this tie-up, Poonawalla Fincorp will extend business loans, loan against property, pre-owned cars and home loans to AIOCD members to help address the various financing needs of chemist and distribution fraternity, a company statement notified.

Commenting on the alliance, Manish Chaudhari, Chief of Staff, Poonawalla Fincorp, said in the statement, “………..We believe that these financial tools will empower and fuel the business growth and individual aspirations of the AIOCD members in achieving their life goals. At Poonawalla Fincorp, we firmly believe in the merits of entering such alliances to leverage the wide reach of such bona-fide independent and industry bodies and augment our product offerings with a touch of special rates that results in a win-win outcome for both the stakeholders.”

Speaking on the tie-up with Poonawalla Fincorp, J S Shinde, President, AIOCD, also said in the statement, “Our alliance with Poonawalla Fincorp will give our members the financial support in addressing the liquidity crunch and avail special credit facilities to enjoy cash discounts when purchasing materials from the suppliers. We are confident this alliance will enable our members to not only enjoy the benefits of special rates on the loan products, but will additionally give them an end-to-end digital experience of the entire loan life cycle provided by Poonawalla Fincorp.”

Adding to it, Rajiv Singhal, General Secretory- AIOCD, stated, “It’s a joint venture that bolsters a core business strategy, creates a competitive advantage, and abates competitors from moving in on a marketplace. It allows individual entities to achieve more together than they would have on their own.”