In India, Micro, Small, and Medium Enterprises (MSMEs) are the backbone of the country’s economic growth, generating employment and contributing significantly to the GDP. However, accessing credit has often been a significant challenge for such enterprises, especially for startups and small-scale businesses. This is where responsible lending plays a transformative role. At LendingKart, responsible lending […]
In recent years, central banks across the world have responded to rising inflation by raising interest rates. Rising interest rate makes borrowing more expensive, which is likely to affect small and medium enterprises (SMEs) more than large corporations. This is because an increase in SME borrowing costs could reduce profit margins and affect budgeting.
Microloans are small loans provided to low-income individuals who need access to traditional financing options. Microlenders, non-profit organizations, or microfinance institutions usually give these loans to help individuals start or grow their businesses. Microloans have become increasingly important for women entrepreneurs facing numerous barriers to accessing traditional financing. In this article, we will uncover
How Voice Biometrics Are Enabling Secure Loan Applications in Rural India
Introduction Farmers and artisans scattered across rural India are finding it easier to secure micro-loans now thanks to voice biometrics in their villages. Instead of carrying voter cards or scrolling through unfamiliar phone menus, a farmer speaks a few words into the handset and the loan app springs into action. Banks rely on the
Over the years, access to credit facilities has seen an uptick in India. As a matter of fact, the credit space has become fiercely competitive with traditional banking institutions, non-banking financial companies (NBFCs) and digital lenders, all trying to capture market share. If you are planning to enter this crowded space, you must have
Small businesses often find it challenging to secure financing for running the day-to-day operations and managing cash flows. Although microfinance loans are one of the many ways through which businesses can bridge the gaps in their finances, many may find even that to be a difficult endeavour due to not being able to meet
Many micro, small and medium enterprises (MSMEs) find it challenging to gain access to unsecured SME loans or other credit facilities in India. This gap in funding often prevents viable MSMEs from growing and realising their full potential. To ensure that small businesses do not face any issues with respect to funding, the Government
