Small business loan in India without security -HappyLoan – to facilitate dreams come true
Partner for Indian MSME industry – ArthImpact
#happyloan #digitalloans #paperlesss loans #arthimpact
Financial services in India is witnessing a significant growth in the area of investments and lending. The avenues and the methods are increasingly getting easy and affordable with digital disruptions. Start-up ecosystem of India is contributing significantly to this revolution. One of such revolution I would like to talk here about is digital lending to the unserved population of India.
‘Digital lending’ concept initially began with lead generation, now is evolved to complete end to end paperless solution. One of the pioneer of this segment is “Happy Loans”, launched to address the needs of small businesses, they lend from Rs. 2000 to 1 lakh with flexible tenure and an attractive rate of 2% per month which is almost at par with the personal loans provided by Banks and much better than informal lending. “Happy Loans”, a micro-lending initiative of #ArthImpact, a self-funded start-up by Mr. Manish Khera and Gautam Ivatuary. HappyLoan mostly served the un-served and underserved Indians. They have taken up alternate channels and method to determine the repayment capacity of individuals. “Happy loans” is a microfinance initiative with presence in 100 cities in India, also helps borrowers building a credit history by disciplined repayment approach.
Manish Khera is known to be a serial entrepreneur, and one of the early movers in financial inclusion and digital banking. Manish Khera’s two decades of corporate journey began at ICICI Bank, where he played a crucial role in setting up the institution’s Alternate Channels Group, after which he moved on to found FINO Paytech in the year 2006, which has served over 70 million customer. He then joined Airtel Payments Bank as CEO. Through his journey of banking, he realized the demand gap for lending to customers with formal credit history and steady income source is huge. The acquisition cost of Banks is too high to address the small borrowers. So, to address the need of these 600 mn people who do not have access to mainstream credit facility in India, he launched Arth Impact. The organization is bound by its vision of financial inclusion. Arth Impact is more focused towards a solution that could ease the everyday cash flow problems.
The attractive features and benefits of Happy Loans are as follows-
· Lends Rs. 2000 – Rs. 1 lakh ( for ex – you may take the loan to re-do your shop/ buy some new items)
· Flexible tenure of repaying the loan beginning 30 days
· Loans are disbused within few hours
· No physical filing of documents required
· Complete end to end digital process to seal any leakages
· Low cost, as the complete lending is digital, minimizing the operational cost
· Customer without credit history, can build credit history by taking loan from Happy Loan
Moneystreets Take – Besides structured microfinance Industry, Arth Impact promoted “Happy Loans” stands out with its low cost structure, easy interest repayment, and flexible tenure makes it a convenient option. The background of the promoters is credible and note-worthy which ensures a superior experience. With end-to-end digital solution, it is new-age product with best experience for the customers.
#happyloans #digitalloans #paperlesss loans
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