Loans are a great way to raise money. The need for some quick, extra infusion of money may arise due to personal reasons, or due to a need to expand your business. Among the different categories of small business loans, a loan against property (LAP) is arguably one of the best ways to raise funds.
A loan against property (LAP) is a loan drawn by a person against his or her property/assets. The properties that can be used to avail a LAP include; a self-occupied or rented house, a piece of land owned by the loan seeker, a commercial building and so on. These loans generally have lower interest rates than personal loans, and also offer longer repayment periods which vary between 120 to 180 months.
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For any business in general, and for small and medium businesses, finance is one of the most important aspects under perpetual consideration. After all, money is vital to keep the wheel turning and for the day to day operations to take place without any issues. While large businesses have multiple ways to keep the lights on, small businesses must often rely on loans to take them through lean times, or when money is needed for business operations.
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Founded in August 2015, Loan Frame is a fintech SME lending marketplace focused on solving the financing problem for millions of small and medium enterprises (SMEs) in India. Loan Frame enables SME lending through partner lenders, by providing them the technology to efficiently originate and assess small business borrowers.
Start date: January 2016 | Location: Gurgaon | Fund Raised since starting up: $2.25 million | Employees: 30+
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India is currently one of the most active FinTech markets in the world. It has drawn the maximum investments in the sector, along with China. Two important missions led by the Government of India, one of Financial Inclusion and the other of a Digital India, are driving innovation. Though it maybe a challenge to turn India into a completely cashless economy, given it’s sheer size of population and scattered geography, digital payments has grown quickly – thanks to the rapid growth in smartphone and e-commerce penetration. A country where cash had usually been the go to mode of transactions, a digital world of financial services have found a place to thrive.
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