LoanZen partners with Treebo to offer loans to hoteliers
Bengaluru: LoanZen, an online platform for offering unsecured loans to small businesses, has tied up with Treebo Hotels, to offer credit support to the latter’s hotel partners. The company would use the data maintained by Treebo to assess the hoteliers’ credit-worthiness. Treebo’s partner hotels will be able to get quick, unsecured loans through this partnership.
“Treebo is a tech-and-analytics-enabled hotel chain that provides us a robust data layer using which we can easily assess the credit-worthiness of their partner hotels. We use information like past booking history, future bookings for the property, guest feedback collected digitally, and quality performance data. This allows us to offer credit to a segment of small hotel owners that has so far not had access to such lending”, Madhu Sudhan, Co-founder, LoanZen said.
“Loanzen sees Treebo, with it’s carefully curated hotel partners, strong consumer brand, and consistently strong business performance, as a key partner in working with in the budget hotel segment.”, he added
Commenting on the partnership, Treebo’s Director of Partner Experience, Bhargav Bhamidipati said, “We are building a strong ecosystem of external service providers for our partners that allows them to carry out their operations more effectively. This is another way in which we add value to our partners. Loanzen is an important partner for us in this effort. Through them our partners not only get access to loans, they do so in a manner that is quick and hassle-free which is important for business.”
These loans are used by hotel owners for managing their working capital and for making quality upgrades to meet Treebo’s standards. One of Treebo’s partners, Ajoy Avikara, who has availed of this facility said, “I value the competitive interest rates, which are on par with mainstream banks and much lower than alternative channels. At the same time the disbursement process is so fast and convenient.”
Treebo is currently present in 12 cities with 65 hotels.
LoanZen partners with Treebo