Government e-Marketplace looks to facilitate collateral-free working capital loans up to ₹10 lakh in just 10 minutes at an interest rate of 10% to small businesses. The Government e-Marketplace (GeM) is likely to make public procurement more inclusive by facilitating collateral-free working capital loans up to ₹10 lakh in just 10 minutes at a concessional interest rate of 10% to small businesses, and boost its platform by adding over 250,000 gram panchayats as new buyers, a senior official directly involved in the scheme said. GeM’s CEO Prashant Kumar Singh said that the loans will be particularly beneficial for businesses owned by the SC, ST and women entrepreneurs. “A digital financing facility based on 10x10x10 philosophy of right loan to right person at cost effective rate in least possible time is being launched soon,” Singh said, adding that a pilot project was successful with 13,400 registered sellers availing about ₹22 crore in loans with an excellent repayment record.