How New Age Digital Lenders are strengthening the backbone of economy 'MSMEs'
MSMEs are named as the backbone of India's economy. To empower micro, small and medium businesses these platforms are gaining a foothold in the entrepreneurship and contributing towards the economy by providing easy capital. MSME’s are now able to get easy access on a short term, collateral-free loans that too in lesser time. This helps in avoiding any obstacle in running the businesses. Also, with new age lenders coming into the picture MSMEs have now started staying away from unorganized money lenders and local kametis. This is not just helping in saving micro-entrepreneurs from whopping interest debt traps but also addressing the goal of financial inclusion in the sector. These are a few platforms which help the MSMEs with not just growth and expansion but also introduce digital medium in their sector.
Vivriti Capital
Vivriti Capital is India’s first tech-enabled online marketplace offering customised debt products to institutional clients within retail financial services and other non-financial services sectors. Headquartered in Chennai, Vivriti Capital was established with the objective of connecting capital markets’ investors with institutions, small enterprises, and individuals to provide them with a comprehensive range of financial services in an efficient manner.
Aye Finance
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 creating a technically enabled process that builds credit insights through a variety of available business and behavioural data. This effective credit appraisal coupled with the use of modern workflow automation and a small but engaged workforce is helping bridge the gap between the MSMEs and organized lending.
Satya MicroCapital
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 centralised approval system.
CoinTribe
CoinTribe is a leading online loan disbursement platform that provides quick and easy collateral-free loans to small businesses and individuals. It is the only online lending platform which has back-tested its credit model with large banks. The marketplace model facilitates loan origination and credit assessment through CoinTribe before it is shared with the banks. PaaS enables banks and NBFCs to utilize CoinTribe’s platform for effective risk analysis and recommendations to digitally underwrite their own consumers. CoinTribe’s PaaS is equipping lenders across the country to become digital ready and enhance the efficiency of their lending process.
Happy
Happy assess over 1000 variables about the merchant to underwrite his micro business. Its credit model is based on the merchant's level of business engagement with the partner, his behaviour towards borrowing, APIs, demographics & business trends. If the merchant is doing healthy business with the partner, he is likely to get a big credit line from Happy Loans. Promising a unique borrowing experience to Indians, Happy Loans provides customized loan offerings to micro enterprise owners to meet their specific demands. It even offers micro business loans that start at as low as Rs 2000 for durations as short as 30 days.
