What is SMELoan.com?
SMELoan.com is a new age fin-tech company that aims to revolutionise small business lending in India through cutting edge technologies and automation. We use proprietary technologies to originate, underwrite and distribute small business lending products. We are building the largest lending marketplace to connect SMEs with lenders.
How is SMELoan.com different from a bank and NBFC?
We are a marketplace that brings together banks, non-banking financial companies and other lenders. Our application process is quicker, easier and fully transparent. Also, we run independent credit and risk assessments to ensure borrowers get the best deal. Our underwriting process combines technology with a deep understanding of India’s SME credit scenario to deliver better-priced and more flexible credit that a bank’s standardized loan products can’t match.
What collateral do your loans require?
We provide both secured and unsecured loans. For secured loans, our lenders accept all kinds of property and equipment as collateral.
How long does the application process take?
Loan eligibility check takes less than a minute. Paperwork is minimal; supporting documents can be scanned and uploaded. If your paperwork is in place, we can move the loan process very quickly.
What documentation is required with my application?
We even encourage borrowers to submit their bank statements online. Typically, we need the principal promoter’s ID and address proof, proof of establishment, statements of bank accounts and loan accounts, income proofs, apart from other documents, which may vary for different loan types.
What factors do you consider in your underwriting process?
We believe that the potential of a business cannot only be determined by a traditional credit score, which takes into account past credit performance and current debt. Our score uses numerous other sources of data to arrive at a more complete composite of every borrower.