Lendingkart expands to over 450 cities, expects to double its reach in six months

| Updated: Aug 23, 2017 11:20 IST

New Delhi [India], Dec 15 (ANI): India's leading online platform Lendingkart on Thursday announced expanding its reach to 462 cities across the country by disbursing over 6500 loans in small towns and cities across India. Lendingkart Group NBFC has covered 27 states in the country and is truly driving financial inclusion for thousands of people in the SME space. With over 100 channel partners supporting Lendingkart Finance's effort, the endeavor is to reach out to 10,000 businesses in the SME space in next 6 months. While the Government of India through its various initiatives is focusing on financial inclusion for people at the bottom of the pyramid, the country is still far from achieving its true potential. A recent report by PWC states that the population of India that is still unbanked, as of November, 2016 is equivalent to world's seventh largest country. With over 1308 million people in the country still struggling for basic banking needs, Lendingkart Finance is doing its bit to ensure, that small and medium industries, that provides employment to millions of people have access to requisite working capital. "Lendingkart Group was started with the sole motive of offering easy and convenient financing options to the large Indian SME sector that does not have access to easy credit. Over 1.0 lakh borrowers have reached out to Lendingkart Finance for their credit needs in the last one year alone. We are extremely happy with the way things have progressed for Lendingkart Finance, every passing day we are one step closer to bringing financial inclusion for many underserved borrowers," said co-Founder and CEO Lendingkart Technologies, Harshvardhan Lunia. "Today we are proud to say that we evaluate a new application every five minutes and a loan is disbursed every 15 minutes in our system," added Lunia. Lendingkart Finance provides for working capital needs of Small and Medium-sized Enterprises offering quick and easy collateral-free loans with minimal paperwork. The robust technology platform has helped create a highly operational efficiency model that utilizes over 2200+ variables and data points for swift loan disbursement, delivered within 72 hours of loan application. (ANI)