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5 distinctive lending platforms to boost wishlist of MSME

ANI | Updated: Jul 10, 2018 13:29 IST

New Delhi [India], July 10 (ANI): Access to easier financing sources, quick online loan application and guaranteeing free funds are few of the significant offerings that have gone out from lending platform.
But each platform has a distinctive feature which sets the MSME at power. The platforms are determined to fuel the economic transformation.
Every MSME has a unique need that is fulfilled by these unique platforms:
Aye Finance - Cluster based study of MSME
Aye Finance is one such commercial institution built around the mission to solve these challenges of funding MSMEs and enabling their inclusion into the mainstream of the economy. Aye Finance differentiates itself by Industry Cluster Enterprise (ICE) methodology delivering deeper insights specific to the numerous industries that they service. They provide cluster loans with perfect advisory with appropriate assistance.
CoinTribe- Unsecured loans
CoinTribe is a leading SME lending focused marketplace that provides quick and easy, collateral free loans to Small Businesses with annual turnover between 1 - 100 Cr. Cointribe believes that effective underwriting is at the heart of solving the gap in SME lending market and is the only online lending platform that has back-tested its credit model with large banks and continues focusing.
CoinTribe has partnered with some of the leading Banks and NBFCs to simplify the SME borrowing experience requiring just the basic business and key person(s) details along with business bank statement(s) to arrive at credit approval. CoinTribe is currently serving SMEs in Delhi NCR, Mumbai, Pune, Surat, Jaipur, Chandigarh and Ahmadabad. Besides unsecured term loans, CoinTribe also runs one of most deeply penetrated Dealer Financing programs and equips select lenders with its PaaS (Platform-as-a-Service) offering to digitize and bring effectiveness to their lending processes.
Satya MicroCapital - Women only branches
Satya MicroCapital Limited is an NBFC-MFI serving low-income entrepreneurs in India's rural and urban areas. The firm provides prompt, convenient, and affordable collateral-free credit to unbanked and underserved people through a strong credit assessment and centralized approval system. Satya MicroCapital's uniqueness lies in its socio-economic upliftment and women empowerment in less privileged areas where they have branches that are operated by women only employees.
Happy Loans- Customized loan offerings
Promising a unique borrowing experience to Indians, Happy Loans provides customized loan offerings to consumers to meet their specific demands. It even offers Micro Business loans that start at as low as Rs 2,000 for durations as short as 30 days. By empowering small businesses and merchants to meet their working capital requirements, Happy Loans aims to be the harbinger of a financial revolution that ensures the availability of funds to every business person as and when required. It has partnered with numerous merchant aggregators to help their merchants' businesses develop a stable working capital base.
Indifi- Collateral Free and Fast Processing
Indifi is a Gurgaon based platform for enabling debt-financing for small businesses. It further aims to substantially improve the experience that borrowers get in terms of speed of approval and disbursement, the convenience of the loan process, the relevance of the loan product to their business needs, and finding the best rates in the market.
Driven by the idea of establishing or automating SMB financing in India, Indifi has emerged as an enabler for start-ups and small businesses to seek seamless access to funding. Platform has 10 lenders on board including IIFL,YES Bank, RBL, Edelweiss, IndiaInfoline, Capital First, Aditya Birla Finance. (ANI)