​​​
  1. How Indifi Technologies helps you in getting small loan

How Indifi Technologies helps you in getting small loan

Apart from personal loans to cab driver, Indifi Technologies extend loans across business segments including transportation, e-commerce, retail, manufacturing and hotels.

By: | Updated: May 24, 2016 5:38 PM
Small loan Apart from personal loans to cab driver, Indifi Technologies extend loans across business segments including transportation, e-commerce, retail, manufacturing and hotels.

Are you a cab driver seeking a personal loan or a small business unable to access a loan due to unwillingness of formal lenders to extend finance to you? Help is at hand, with Indifi Technologies, a fintech company into debt financing, tying up with lenders to fill in the lending gap by extending loans from as low as Rs 1 lakh to as much as Rs 50 lakhs.

Apart from personal loans to cab driver, Indifi Technologies extend loans across business segments including transportation, e-commerce, retail, manufacturing and hotels.

“We are extending loans to segments who find it difficult to access loans from formal lending institutions. Our loans are available at an interest rate of 16-24 per cent. If one has to go to the moneylender the interest rates could be as high as 30 per cent. We provide a reasonable alternative to the moneylender,” Alok Mittal, Co-founder and CEI, Indifi Technologies.

Indifi works only through existing supply chain relationships, and hence only those SMEs can access loans through Indifi- currently. Indifi has several partnerships including TravelBoutique Online, Shopclues, Ola and others through which, Indifi facilitates acquisition of customers.

Mittal said that financiers who Indifi is presently working with to provide loans are Edelweiss Retail Finance, India Infoline Finance Ltd and Capital First Ltd. “These lenders give us a scorecard. We fill in data and give them a ready to approve application,” Mitall said.

SMEs who are affiliated with Indifi supply chain partners submit their documents stating their requirements and finds a lender that fits the bill – through inbuilt match-making algorithm. This is done through an accurate information collection process during the documentation stage. The whole process takes a maximum of 4 working days. Indifi automates everything from data collection to approval. “Approvals take less than a week. Disbursal happens as and when a customer needs money,” Mittal said. Indifi-assisted loans are generally of between 6-24 months.

Mittal did not want to disclose business specifics, but said Indifi, which has been in existence for less than a year, has already facilitated ‘a few hundred loans’. He said that in the next 12-18 months the company hopes to take the figure to a few thousand loans. “We also hope to tie up with some banks soon,” Mittal said.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Tags: Small Loans

Go to Top