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Fintech NBFC "Prest Loans" forays its operations in Rajasthan

ANI  |  New Delhi [India] 

Prest Loans the new age FinTech NBFC, providing online loans to small businesses and MSME segment has expanded its operations by opening new office in

The company announced that they are opening office in at F-26, 2ndfloor, Gautam Marg, Amrapali Circle, Vaishali, as there have been lot of demand from this area for loans. The company has been getting application for all kind of loans to small businesses and SMEs.

"Plans to develop operations in Jaipur, were initiated by very encouraging demand from this area from a variety of businesses. is a high growth location where we have seen trading, industrial and services industry expanding better than many other locations. The nearby area around is witnessing unprecedented demand for credit.

The opening of Prest loan's new office is an important step towards realizing our goals," said founder and CEO, Ashok Mittal.

The new branch will be the first of many important changes for the company in 2017. Prest Loans will offer its clients in unsecured loans up to three years, Secured loans (with collateral) for Short Term of up to five years and Secured loans (with collateral) for Long Term of up to 10 years.

Prest Loans uses proprietary algorithm using lot of alternate data which decides loan amount, interest rate and tenure based on internal scoring system. The Fintech platform gives lot of weightage to the personal, social and family background of the applicant - the non-financial aspects - along with the data analysed by credit team. The online lending platform approves loan applications within minutes once the required information and documents are submitted.

Commodity and financial market expert Ashok Mittal had recently acquired based NBFC Lord Krishna Financial Services Ltd. and rebranded it as Fintech NBFC "PREST LOANS".

Prest Loans offers short term or long term Loans, with or without collateral security, to new and existing businesses, including Micro, Small or Medium Enterprise (MSME unit) in any kind of The Loan tenure is flexible based on the needs and cash flow analysis.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 25 2017. 12:32 IST
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