Last November’s Demonetisation move created high expectations of low business loan interest rates. This expectation hasn’t been fulfilled and interest rates may remain static for a while to come.
Loan Frame is a silicon-valley style Fintech company focused on small and medium enterprises (SMEs) lending in the Indian subcontinent by building India’s largest technology enabled SME lending marketplace. Loan Frame is providing a technology solution to one of India’s long standing economic problems: availability of credit to Indian SME’s.
Loan Frame aims to provide the right credit in an easy and friendly manner to SMEs. Customers will benefit from the right product from the right lender where they can get the maximum loan amounts at the lowest rate in the most efficient manner. Besides, it aims to provide an efficient lending experience for borrowers and make them easily accessible to lenders.
In an earlier blog post, we discussed why SMEs developed a dependence on cash transactions and what the likely scenario will be going forward. Here, let’s look at the details of some of the specific factors that will lead to a breaking of the cash habit.
Continue reading “Keeping Your Business, Credit eligible, In A ‘No Cash’ Economy”
India Inc.’s dependence on cash has traditionally been high, especially with MSMEs. A radical policy move like demonetisation has however compelled small businesses to consider alternatives to cash, which hopefully will become a habit. A habit that will serve business well in the emerging environment.
Marketplaces have always been the preferred shopping choice since forever. In the offline world, marketplaces that showcased a variety of products sold by multiple merchants made it easier for a shopper to pick and choose the best product at the best price. When this model moved online (with the likes of Amazon, ebay, Flipkart, makemytrip), ‘convenience’ got redefined and was taken to another level.
Though the demand for loans from the SME is robust, most SMEs have a problem in accessing loans at relatively lower interest rates.
However, use of technology can bridge the gap between the credit demand and the lenders and benefit the SMEs, according to Shailesh Jacob, chief executive officer and founder of Loan Frame, a marketplace that brings lenders and borrowers together through mobile site and an application.
In an interaction with Sujata Sangwan of BW Disrupt, Shailesh Jacob, CEO & Founder, Loan Frame, shared his startup’s journey including idea generation, description, traction details and future goals. Loan Frame is a silicon-valley style Fintech company focused on small and medium enterprise (SME) lending in the Indian subcontinent by building India’s largest technology enabled SME lending marketplace. Loan Frame is providing a technology solution to one of India’s long standing economic problems: availability of credit to Indian SME’s.