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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