Today, I attended a “Virtual
Bloggers Meet”, an event conducted by ‘Arth Impact’ team. It is an end to end
digital micro lending platform. It is a venture led by Manish Khera and Gautam Ivatury.
Manish Khera is a financial inclusion pioneer in India with over 20 years of
banking experience and has also helped shape policies in this space and also
the former CEO of Airtel Payments Bank and former MD of Fino Paytech Ltd. Fino
Paytech built one of the country’s biggest banking correspondence network. Mr.
Gautam is a Serial
Entrepreneur, headed the world banks digital finance programme (backed by the
Gates Foundation) and Co-founded
Jipange KuSave, the 1st digital savings & lending business in Kenya.
Below, I am mentioning
some of the key points in the meeting, which will give you a brief idea about the
ArthImpact and its product GoodLoan:
ArthImpact’s mission is
to provide digital financial services, with credit as a first product, to the
underserved mass market. Traditionally, SMEs have limited options on loan
products and In India, small merchants don't have access to mainstream banking.
HappyLoan will help them to boost their working capital requirements. It has
designed a solution, In which "KYC Submission" or "Loan
Repayment"- Everything is available with just a few clicks.
The product can be
availed even by people in low Income Bracket or with no credit history. One can
hear the Passion for happyloan from small customers with 100% repayment record
from Manish Khera, who gave us irctc. I am really happy to know, that no Penal
Charges for Delayed or Prepayment. At present, it is available in 50+ cities and
increasing its presence through collaboration. Its business model leverages
technology to create a new way of banking - accessible by all. and available
anytime and anywhere. The tenure is very flexible & starts from as short as
30 days to support businesses to boost situational working capital
requirements. The loan amount starts from as low as Rs.2000 to Rs.100,000.
Since all business rely
on financial services in some way, from payments to accounts to credit
provision, Manish says the target audience for this loan, are really two types
of customers-
1) Micro-entrepreneurs
like small shopkeepers, delivery boys, early jobbers etc.
2) The migrant and
semi-skilled worker – typically those who work as handymen, drivers and waiters
etc.
Bottom Line:
In the end, I would like
to conclude by saying that, taking HappyLoan is very easy, when you understand
your capacity, set achievable goals and follow the proper process. I would be
delighted if you share your experience after visiting the webpage of ArthImpact
and if you have further suggestions or information in this respect.
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