{"id":3044,"date":"2020-06-22T05:48:48","date_gmt":"2020-06-22T05:48:48","guid":{"rendered":"https:\/\/www.indifi.com\/blog\/?p=3044"},"modified":"2022-06-27T07:16:14","modified_gmt":"2022-06-27T07:16:14","slug":"best-sme-lending-options-on-how-to-implement-them","status":"publish","type":"post","link":"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/","title":{"rendered":"Best SME Lending Options On How To Implement Them"},"content":{"rendered":"\n<figure class=\"wp-block-gallery columns-1 is-cropped wp-block-gallery-1 is-layout-flex wp-block-gallery-is-layout-flex\"><ul class=\"blocks-gallery-grid\"><li class=\"blocks-gallery-item\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"460\" height=\"300\" src=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/06\/SME-Lending-options-460x300.jpg\" alt=\"\" data-id=\"3365\" data-link=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/sme-lending-options-2\/\" class=\"wp-image-3365\" srcset=\"https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/06\/SME-Lending-options-460x300.jpg 460w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/06\/SME-Lending-options-768x501.jpg 768w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/06\/SME-Lending-options-870x568.jpg 870w, https:\/\/www.indifi.com\/blog\/wp-content\/uploads\/2020\/06\/SME-Lending-options.jpg 1140w\" sizes=\"auto, (max-width: 460px) 100vw, 460px\" \/><figcaption class=\"blocks-gallery-item__caption\">SME-Lending-options<\/figcaption><\/figure><\/li><\/ul><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Need for SME Lending &amp; Financing<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Business loans are very pertinent for a business to grow in size and reap more profits than what they are making currently. These capital investments are a significant problem for SMEs in India as they have a dearth of free cash available to them to invest, thus they look for business loans. There are several SME lending options available in the market to get a business loan approved in less time and at lucrative interest rates. Let\u2019s look at some of these SME lending options in detail,\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also Read:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.indifi.com\/blog\/how-do-the-latest-moratorium-policies-impact-emi-repayment-for-smes\/\" target=\"_blank\">How Do The Latest Moratorium Policies Impact EMI Repayment for SMEs?<\/a><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#Best_SME_Lending_Platforms_in_India\" >Best SME Lending Platforms in India<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#Money_Tap\" >Money Tap:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#Flexi_Loans\" >Flexi Loans:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#NeoGrowth\" >NeoGrowth:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#LenDen_Club\" >LenDen Club:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#Indifi\" >Indifi:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.indifi.com\/blog\/best-sme-lending-options-on-how-to-implement-them\/#Conclusion\" >Conclusion<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Best_SME_Lending_Platforms_in_India\"><\/span><strong>Best SME Lending Platforms in India<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Money_Tap\"><\/span>Money Tap: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">This is an application-based loan-seeking platform providing a personal line of credit up to five lacs without any collateral or guarantor. This is a good SME lending option as here you can withdraw as low as INR 3,000 and as high as five lacs and the best part is you have to pay interest only on the amount borrowed. The repayment is as flexible as the platform itself with EMI options of two months to 36 months from the app itself. You can get a marriage loan, education loan, vehicle loan, travel loan, consumer durable loan, and many such categories. <\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link has-vivid-green-cyan-background-color has-background\" href=\"https:\/\/www.indifi.com\/msme-loans\" target=\"_blank\" rel=\"noreferrer noopener\">MSME Loan Apply<\/a><\/div>\n<\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Flexi_Loans\"><\/span>Flexi Loans: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">It is an online lending platform in the MSME space, providing them access to quick and flexible business loans helping them in their growth. This again is a collateral-free loan with minimum documentation and quick disbursal. They follow a simple four steps process which is: Fill out the online application, upload documents, credit analysis done by the company, and disbursement. The loan amount is in the range of 50,000-1 crore with a tenor of six months to a year.\u00a0<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"NeoGrowth\"><\/span>NeoGrowth: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">An NBFC registered with the RBI, is more of an SME lending platform that recently got an ISO certification (ISO 9001:2015). They have a doorstep service with minimum documentation and customized repayment options. They have products in retail finance and supply chain finance in their portfolio with over $650 million disbursed since 2013. Their NeoCash product is for online and offline retailers in search of innovative loan products and NeoCash Express for SMEs with loan amounts between 3-8 lacs with a tenor of 500 days for SMEs with a history of two years or more.\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also Read: <a href=\"https:\/\/www.indifi.com\/blog\/evolution-of-sme-lending-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">Evolution of SME Lending In India<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"LenDen_Club\"><\/span>LenDen Club: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Another viable option when it comes to SME lending, it acts as a bridge in connecting the lenders fetching higher returns and borrowers in search of <a rel=\"noreferrer noopener\" href=\"https:\/\/www.indifi.com\/short-term-small-business-loans\" target=\"_blank\">short term loans<\/a>. The usual time is taken to get the loan approved ranges from an hour to 18 hours. There is a registration fee to be paid upfront, which is refundable if you don\u2019t get the loan, but that is a rare occasion as there are multiple lenders registered on this peer-to-peer (P2P) lending platform. They use artificial intelligence to assess the creditworthiness of the borrower and leverage immensely on technology to reduce the processing time.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also Read:&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/www.indifi.com\/blog\/covid-19-challenges-faced-by-msme\/\" target=\"_blank\">Covid-19 Challenges Faced By MSME<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Indifi\"><\/span>Indifi: <span class=\"ez-toc-section-end\"><\/span><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">Indifi in the lending space to small businesses to meet their day to day funding requirements. Indifi provides an (unsecured) <a rel=\"noreferrer noopener\" href=\"https:\/\/www.indifi.com\/collateral-free-business-loans-india\" target=\"_blank\">collateral-free loan<\/a> up to one crore in the minimum time possible (maximum three days). It follows a simple process of applying online with uploading basic documents, signing the loan agreement and receive funds in three days. There is an EMI calculator on their website for you to calculate your EMI based on the loan amount, tenor and interest rate.\u00a0 \u00a0  <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Also Read:&nbsp;<a href=\"https:\/\/blog.indifi.com\/msme-registration-process-benefits-india\/\">An Overview Of MSME Registration In India: Process &amp; Benefits Discussed<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span><strong>Conclusion<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">There are many more such SME lending platforms\/online P2P lenders in the likes of CoinTribe, Happy Loans, Lendbox, Shubh Loans which promise a unique experience of availing funds to grow their business. All these lending platforms provide a seamless experience to a borrower owing to their supreme services like lucrative interest rates, options to choose from lenders, minimum documentation, no collateral etc. Leveraging on innovation and AI-driven technology is what is driving this entire lending space in assessing the credit risk, making it a win-win situation for borrowers, lenders, and the platform. Going forward, these online lenders will get more business with increasing SMEs and their expansion especially after the Make in India initiative by the government of the day. Investing in new projects, setting up a factory, starting a new business requires capital investments that can be sourced from an <a href=\"https:\/\/www.indifi.com\/\">online lending platform<\/a> like Indifi.<br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Need for SME Lending &amp; Financing Business loans are very pertinent for a business to grow in size and reap more profits than what they are making currently. These capital investments are a significant problem for SMEs in India as they have a dearth of free cash available to them to invest, thus they look [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":3366,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[752],"tags":[],"class_list":["post-3044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-msme"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/comments?post=3044"}],"version-history":[{"count":12,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3044\/revisions"}],"predecessor-version":[{"id":5643,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/posts\/3044\/revisions\/5643"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media\/3366"}],"wp:attachment":[{"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/media?parent=3044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/categories?post=3044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.indifi.com\/blog\/wp-json\/wp\/v2\/tags?post=3044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}