Lendingkart Finance Disburses 25,000 Loans to MSMEs Across 1000 Indian Cities

Ahmedabad (Gujarat) [India], May 24 (ANI): Lendingkart Finance Limited, one of the leading Non-Banking Financial Companies (NBFCs) in the MSME financing space and part of Lendingkart Group, has expanded its reach to 1000 cities in India.

Disbursing more than 25,000 loans across 26 diverse sectors and over 100 sub-industries, Lendingkart Finance has emerged as the fastest growing and largest digital lender in the country that caters to the MSME space.

"Over the last couple of years, Lendingkart Group has been able to build a robust technology stack with strong data analytics skills that has allowed us to effectively appraise thousands of borrowers and give them access to finance. We understand the needs and pain points of the MSME segment and are continually innovating and evolving to offer better credit access solutions," said Harshvardhan Lunia, CEO and co-founder, Lendingkart Technologies.

"Formed with a vision to fund MSMEs and provide them easy and economical source of funding, Lendingkart Group has today reached a stage where we are not just transforming small business credit but are also encouraging new businesses and entrepreneurs to take a step towards financial inclusion. Our phenomenal growth has also been backed by investor confidence in the form of significant equity infusion, one of the largest in the Indian fintech landscape," he added.

Leveraging its robust technology platform, Lendingkart Finance has facilitated a seamless disbursal of loans.

More than 6.5 lakh MSMEs across the country have reached out to them for their credit requirements.

Tier 2 and 3 cities like Zirakpur (Punjab), Rudrapur (Uttaranchal), Dhenkanal (Odisha), Veraval (Gujarat), Aurangabad (Maharashtra), Jhalawar (Rajasthan), Salem and Madurai (Tamil Nadu), Bina and Katni (Madhya Pradesh), Jamshedpur (Jharkhand), Unnao (Uttar Pradesh), Jhajjar (Haryana) and others are now emerging as the key hubs for small and medium business enterprises and are instrumental in driving growth and expansion for Lendingkart Finance.

Although banks or formalised institutions have covered a large part of the country, a huge majority of MSMEs in the country still do not have access to credit options.

Due to unavailability of timely as well as flexible institutional credit, several MSMEs fail to tide over temporary setbacks and eventually have to shut shop.

Consequently, in alignment with the government of India's agenda of building financial inclusion, Lendingkart Finance is working towards ensuring easy and convenient availability of credit for small and micro enterprises across the country that do not have access to credit or are capital deficient.

Lendingkart Finance till date has evaluated over 1.5 lakh loan requests, assessing more than 5,000 variables per request to determine the financial health, comparative market performance and social reliability quotient of borrowers for further assessment of their creditworthiness. (ANI)

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