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Loans for Small Business SME

Raising funds has always been a problem for SMEs…

India has over 48 million SMEs (Small and Medium Enterprises) which employ about 40% of India’s workforce. It is obvious that SMEs play a significant role in the national economy. SMEs are made up of diverse segments such as small scale industries, retail shops, trading outfits etc.

Raising funds for working capital has not been easy for SMEs, particularly in tier 2 and tier 3 cities, in view of the preferential bias of Banks and lending institutions towards large, established companies. The traditional financial institutions consider lending to SMEs involve higher risks and therefore interest rates on business loans to the latter is usually higher and amount advanced often has been lower than requirement.

Many SMEs had stayed small and unorganised to avoid taxes and regulation which had made it difficult for Banks and NBFCs to understand and meet funding requirements of SMEs. Further, Banks are normally reluctant to do due diligence of such small businessmen.

Digital lending players are here to lend to SMEs…

To give a fillip to small and medium businesses, certain digital and app-based lending platforms have entered the scene with the sole objective of catering to the financial needs of the SME sector. They have been helped by the fact that many SMEs have created a digital footprint by entering the digital eco-system. For instance, you may be an app-based cab driver (Uber, Ola etc) needing an auto loan or a seller on e-commerce platforms (Flipkart, Amazon, Snapdeal etc) requiring a SME loan. In the absence credit score, To sanction loans, the digital and app-based credit providers look at payment history, transactional data, business volume, behaviour, social network etc. With a flexible approach and dependence on technology, quick decisions are made which result in faster loan disbursals.

Interest rates offered are also competitive. Loans as low as Rs 5000 and up to Rs 5 Lakhs are disbursed by most of these lenders at interest rates ranging from 16% to 18%. However, the loan cannot be approved online since RBI does not allow digital signatures. The loan application would have to be physically signed by the borrower and delivered to the office of the credit provider.

Mudra is a Government of India initiative to grant loans to non-corporate small businesses (proprietorships or partnership firms) such as small manufacturing units, service sector units, shopkeepers, fruit/vegetable vendors, truck operators, food-service units, repair shops etc. Loans would be towards working capital requirements, buying plant and machinery, renovating offices etc.

 

 

Resources

Aditya Birla Finance Ltd

084259 66666

Web Page

Au Small Finance Bank

1800-1200-1200, 1860-1200-1200

www.aubank.in

Aye Finance P Ltd.

M-5, Mezz Floor, Magnum House-1, Karampura Commercial Complex, Opp Milan Cinema, New Delhi 110015

Sanjay Sharma

011-2510 4057 / 58

ayefin.com

Biz2Credit Info Services Pvt Ltd

A-83, 1st Floor, Sec. 2 Noida 201301

1800-3002-0653

www.biz2credit.in

Capital Float

'Gokaldas Chambers', #222/14, 3rd Floor, 5th Main, Bellary Road, Sadashivnagar, Bangalore 560080

080-6768 3920

capitalfloat.com

CapitaWorld

502-602, Aniket, CG Road, Ahmedabad, 380009

Rajan Chauhan

99244 44468, 95120 15794

www.capitaworld.com

Capzest

D-3143, 3rd Floor Oberoi Garden Estates Chandivali, Mumbai 400072

096190 34511

capzest.com

Cash Suvidha

117, Second Floor, Ram Vihar, New Delhi 110092

1800-120-4847, 011-4957 6046

www.cashsuvidha.com

CoinTribe

CoinTribe Technologies Pvt. Ltd., 6th Floor, Plot No. 44, Sector 44, Gurgaon 122003

1800-843-9240

cointribe.com

ECL Finance Limited  

Edelweiss House, 10th Floor, Windsor Ln, MMRDA Area, Kalina, Santacruz East, Mumbai 400098

022-4009 4400

Finance Buddha

1st floor, 9th Cross, Jeevan Bheema Nagar, HAL 3rd Stage, Bangalore 560075.

080-4090 9654

financebuddha.com

Five Star Business Finance

39, Outer Circular Road, Kilpauk Garden Colony, Kilpauk, Chennai 600010.

80150 30420

www.fivestargroup.in

FlexiLoans

Zone Startups India, 18th floor, P.J. Towers, Dalal Street, Mumbai 400001

089280 21974

flexiloans.in

ftcash

1005,10th Floor, Lodha Supremus, Saki Vihar Road, Powai, Mumbai

82910 10706

www.ftcash.com

IFMR Capital

Chennai: 044-6668 7000, Delhi: 0124-458 7830, Mumbai: 022-6668 7500

capital.ifmr.co.in

InCred Finance

1502 A, The Capital, B Wing, Bandra Kurla Complex, Mumbai 400051

www.incredfinance.com

IndiaLends

No. 55, Upper Ground Floor, Lane-2, Westend Marg, Saidulajab (Nr. Saket Metro), New Delhi 110030

011-3959 5126

indialends.com

Indifi Technologies Private Limited

B156, Spaze iTech Park, Sector 49, Gurgaon 122001

0124-423 3027

www.indifi.com

IndoStar Capital Finance Ltd.

One Indiabulls Center, 17th Floor, Tower 2A, Jupiter Mills Compound, S. B Marg, Mumbai 400013

022-4315 7000

indostarcapital.com

Innoviti

NGR, The Edge, 2nd & 3rd Floors, 41, Sai Baba Mandir Road, 3rd Main, 5th Cross, Cambridge Layout, Halasuru, Bangalore 560008

Toll Free: 1800-103-6702

www.innoviti.com

InstaKash

You may not have a credit profile but as an app-based (Uber, Ola etc) cab driver you may need an auto loan or as a seller on e-commerce platforms (Flipkart, Snapdeal etc) you may need a SME loan. On applying to InstaKash, they will build a new credit score based on your transactional data, behaviour and network. And loan will be granted.

instakash.in

IntelleCash

13A, 6th Floor, Techniplex II IT Park, Off Veer Sarvarkar Fly Over, Goregaon West, Mumbai 400062

022-6195 2781

www.intellecash.com

KapitalTech

Fortune Financial Services (India) Ltd, 20th - 21st Floor, A Wing, Naman Midtown, Elphinstone (W) Mumbai 400013

022-4005 7593, 6747 2210, 662148803

www.kapitaltech.com

Khannan Finserv

No-5/18, Venu Reddy Street, Guindy, Chennai 32.

096000 55779, 044-4332 3339

www.khannanfinserv.com

kredX

kredX helps SMEs by discounting their bills raised on blue-chip clients. kredX's investors buy SME's bills at 15-25% discount and SMEs get money instantly. At the end of credit period of 45 or 60 days, the blue-chip company directly pays the full invoice value to kredX's investors.

7, Ground Floor, Alpha Block, Sigma Technology Park SH 35, Varthur Hobli, Whitefield, Bangalore 560066

080-3951 5161

www.kredx.com

LendingKart Ltd.

301-302 Primate, Opp Mother Milk Palace, Near Judges Bungalow Cross Roads, Bodakdev, Ahmedabad 380054

079-2646 7574

lendingkart.com

Loan Frame

Paras Twin Towers (Tower A), Sec-54, Golf Course Road, Gurgaon 122011

0124-650 0157

www.loanframe.com

LoanAdda

D 120, Defence Colony, New Delhi 110024

Aishwarya

011-4109 2114

www.loanadda.com

LoanStreet

#1587, 36th Cross, 100 ft Ring Road, BSK 2nd Stage, Bangalore 560070
A-618, Logix Technova, Sector 132, Noida 201304
186, Powai Plaza A, Hiranandani Gardens, Powai, Mumbai 400076

022-6090 9996, Whatsapp: 096994 59334

Web Page

LoanZen

734, 22nd Cross (HSR Club Road), Sector 3, HSR Layout, Bangalore 560102

088806 33333, 080-6565 0508

www.loanzen.in

Mudra - Micro Units Development & Refinance Agency Ltd.

MSME Development Center, C-11, G-Block, Bandra Kurla Complex, Bandra East, Mumbai 400051

www.mudra.org.in

Muthoot Capital Services Ltd

0484-661 9600, 661 3450

www.muthootcap.com

NeoGrowth Credit Pvt. Ltd.

1800-419-5565, 022-4921 9999

neogrowth.in

One Capitall Ltd

Patel House, Plot No 48, Gazdhar Bandh, North Avenue Road, Santacruz (W), Mumbai 400054

022-2605 2915, 2605 3915, 2605 0021

www.onecapitall.com

Rubique

Unit No. 5, B Wing, 1st Floor, Krislon House, Saki Vihar Road, Saki Naka, Mumbai 400072

1800-266-0299

www.rubique.com

SMEBank.in

Investment amount should be a minimum of Rs 30,000 and in multiples of Rs 10,000 thereafter.

Level 1, 4-3-269, Giriaj Lane, Sultan Bazar, Hyderabad 560095.

081219 90088, 040-4200 6151

smebank.in

SMECorner.com

022-3190 5626

www.smecorner.com

Vistaar Financial Services Pvt. Ltd.

No 80, M.C.S.H Layout, 5th-A Cross, 21st Main, IAS Officers Colony, BTM 2nd Stage, Bengaluru 560076

080-3008 8494

www.vistaarfinance.com

ZoukLoans

1st Floor, Eco Towers, Sector 125, Noida 210301

Sagar Sharma: 0120-425 8060

www.zoukloans.com