Tag: FlexiLoans

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Business World

Tech-enabled lending platforms to watch out for in 2021

Dec 16, 2020 by Neel Achary 0 Comments #Capital Float, #FlexiLoans, #Indifi Technologies

As 2020 drew to a close, it was an opportune time to pause and reflect. Today, fintech is so ubiquitous and that many solutions are an intrinsic part of our life. Even traditional laggards like the functioning of lending and borrowing have been swept by technology innovation. While new ways of lending and borrowing have become popular, even traditional lenders are leaning on technology to help decipher the plethora of data available today and help in making decisions.

Hereby enclosing 5 tech-enabled lending platforms to watch out for in 2021

1. Indifi Technologies: Indifi Technologies is a Gurgaon-based lending platform, enabling debt-financing for small businesses. It aims to substantially improve the experience for borrowers regarding credit access as well as speed and convenience of the loan process. Driven by the idea of expanding access to MSME financing in India, Indifi has emerged as an enabler for start-ups and small businesses seeking seamless access to funding. Indifi expands the envelope of formal lending by designing the right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs.

It is one of India’s leading online lending platforms, which has deployed a proprietary machine learning model to drive greater differentiation in its lending operations and optimising functions such as underwriting, risk assessment, and borrower profiling. The machine learning model also strengthens the underwriting process, as the final credit decision is based on more informed insights. Doing so also reduces the dissonance between the final inquiry status for customers to improve the customer experience on the Indifi platform.

2. Capital Float: Capital Float is a fintech lender to digital India. From financing the dynamic growth of SMEs to offering innovative point-of-sale financing for consumers, Capital Float offers flexible, short-term loans that can be used to purchase inventory, service new orders, or optimise cash cycles. Borrowers can apply online in minutes, select desired repayment terms, and receive funds in their bank accounts in three days with minimum hassle.

3. LendingKart: LENDINGKART Technologies is a fin-tech startup in the working capital space. The company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness and provides other related services. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. The company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses across different sectors including e-commerce rapidly and accurately.

4. Flexiloans: FlexiLoans is an online lending platform started with an endeavor to solve the problem that SMEs face in accessing Quick, Flexible & Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. The platform wish to make the ‘social & alternative scoring of SMEs & Individuals a big opportunity for the economy that will far out place the limited insights that the financial bureau provides. Their technology-powered online marketplace is the best model to meet the financial requirements of SME’s in the e-commerce sector, who do not have a credit history & hence cannot avail of loans from traditional banking channels.

loan
Business World

Fintech platforms transforming SME Lending in ecommerce space

Oct 27, 2020 by Gouri Achary 0 Comments #Capital Float, #Fintech, #FlexiLoans, #Indifi Technologies, #Lendingkart

Access to traditional funding is still a challenge for many SMEs. In 2018, loan approvals from big banks were the highest they’ve been in 7 years. But, at 25.9%, that’s not especially high. It means big banks still decline by 74.1% of applications. As it happens, this massive gap is big banks’ loss and fintech’s gain. By combining financial know-how with technology, fintech is reshaping SME lending, approving loans to more businesses more quickly, and giving more SMEs access to the funds they need to expand.

At a time when retailers are facing a liquidity crunch and struggling to operate due to frequent lockdowns, here comes the Fintechs platforms that are transforming SME lending in the E-commerce space and helping them in maintaining working capital.

Indifi Technologies: Indifi Technologies is a Gurgaon-based NBFC licensed for a debt-financing platform for small businesses. With credit underwriting, technology and partners being the strong pillars, they have launched new products- early and weekend settlement to ensure timely credit to the merchants in the e-commerce sector especially in the festive season. To improve the cashflows of merchants during the crisis.

It aims to substantially improve the experience for borrowers regarding credit access as well as speed and convenience of the loan process. Driven by the idea of expanding access to MSME financing in India, Indifi has emerged as an enabler for start-ups and small businesses seeking seamless access to funding. Indifi expands the envelope of formal lending by designing the right-fit credit products for MSMEs, improving the standard of risk assessment, and leveraging the supply chain linkages of MSMEs.

Lendingkart: LENDINGKART Technologies is a fin-tech startup in the working capital space. The company has developed technology tools based on big data analysis which facilitates lenders to evaluate borrower’s creditworthiness and provides other related services. The company aims to transform small business lending by making it convenient for SMEs to access credit easily. The company uses technology and analytics tools, analyzing thousands of data points from various data sources to assess the creditworthiness of small businesses across different sectors including e-commerce rapidly and accurately.

Flexiloans: FlexiLoans is an online lending platform started with an endeavour to solve the problem that SMEs face in accessing Quick, Flexible & Adequate funds for growing their Businesses. Over 80% of Loan proposals from SMEs currently are rejected by institutional channels on account of inadequate financial history or collaterals. The platform wishes to make the ‘social & alternative scoring of SMEs & Individuals a big opportunity for the economy that will far out place the limited insights that the financial bureau provides. Their technology-powered online marketplace is the best model to meet the financial requirements of SME’s in the e-commerce sector, who do not have credit history & hence cannot avail loans from traditional banking channels.

Capital Float: Capital Float is the leading Fintech lender to digital India. From financing the dynamic growth of the SMEs to offering innovative point-of-sale financing for consumers, we are leading the charge in addressing the country’s enormous credit problem. They offer flexible, short-term loans that can be used to purchase inventory, service new orders or optimize cash cycles. Borrowers can apply online in minutes, select desired repayment terms, and receive funds in their bank accounts in 3 days with minimal hassle.

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Business World

5 companies are providing support to the MSME sector

Sep 8, 2020 by Neel Achary 0 Comments #Business Loan, #FlexiLoans, #Happy Loans, #Locus, #MSME Sector, #Ziploan

Among the many parts of the economy that require immediate attention and support as a result of COVID are the micro, small and medium enterprises. While the RBI has allowed a moratorium on term loans, eased working capital financing and deferred interest payment on working capital facilities without an asset classification downgrade, there is a significant loan funding gap in the MSME sector.

Here are 5 companies that are working to help SMEs and MSME sector to evolve and stay afloat during these times –

Crediwatch

Crediwatch is an AI-enabled platform that provides actionable insights and flexible workflows for seamless credit management and faster lending decisions. Crediwatch does this with no human intervention by deploying AI /ML and NLP tools that use scalable deep learning technologies across disparate digital footprints left by private entities (big and small). The company has partnered with respected financial institutions such as – SBI, Aditya Birla Financial Services, Karur Vysya Bank, RBL Bank, APAC Financial etc. to provide credit intelligence of more than 50 thousand businesses. The company has provided insights on 50,000+ businesses and $7 billion loan portfolio.

FlexiLoans

FlexiLoans is an online lending platform which started with an endeavour to solve the problem that MSMEs face in accessing quick, flexible, and adequate funds for growing their businesses. The platform’s technology-powered online marketplace is the best model to meet the financial requirements of MSMEs, who do not have a credit history and hence, cannot avail business loans from traditional banking channels.

Ziploan

Ziploan, a tech-enabled, RBI registered NBFC, helps in providing loans to small businesses. The platform addresses the need of the SME sector, which has been ignored by financial institutions. The platform generates a unique ZipScore for each loan applicant by developing an automated underwriting algorithm.

Happy Loans

Happy Loans Happy Loans provides customised loan offerings to micro-enterprise owners to meet their specific demands. It assesses over 1,000 variables about the merchant to underwrite their micro business. Its credit model is based on the merchant’s level of business engagement with the partner, their behavior towards borrowing, APIs, demographics, and business trends.    The ML-based MSME sector digital lender has launched a ‘Lockdown Loan’. The digital credit facility is developed to address the working capital woes of Indian micro enterprises during the lockdown. It will provide them capital access of Rs 25,000 and Rs 50,000, with bullet repayment after six months.

Locus

Locus, a global B2B SaaS company, has announced the launch of a free tool ‘QuickStart,’ which is a self-serve lite version of the product suite for startups and small and medium enterprises to improve their supply chain efficiency amid COVID-19 pandemic. The company is also providing a free trial for two months from the start of the subscription, which will help them improve their supply chain.