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Investors warm up to lending start-ups

Start-ups charge interest rates of 18-24% while banks set 15-18%

Ranju Sarkar  |  New Delhi 

Bharat Rathore runs a small trading business at Taranagar in Churu district, Rajasthan. Each time he needs a loan, he has to go to a private bank in Jaipur. The bank sends a representative to assess his business and takes three to four weeks for the loan to be approved and disbursed.  Last year, Rathore began using app-based lending start-ups such as Lendingkart and Capital Float, which are able to process and disburse a loan in three-four days, precluding the need to go to Jaipur. They use an app to evaluate the application, and approve and disburse the loan ...

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Investors warm up to lending start-ups

Start-ups charge interest rates of 18-24% while banks set 15-18%

Start-ups charge interest rates of 18-24% while banks set 15-18% Bharat Rathore runs a small trading business at Taranagar in Churu district, Rajasthan. Each time he needs a loan, he has to go to a private bank in Jaipur. The bank sends a representative to assess his business and takes three to four weeks for the loan to be approved and disbursed.  Last year, Rathore began using app-based lending start-ups such as Lendingkart and Capital Float, which are able to process and disburse a loan in three-four days, precluding the need to go to Jaipur. They use an app to evaluate the application, and approve and disburse the loan ... image
Business Standard
177 22

Investors warm up to lending start-ups

Start-ups charge interest rates of 18-24% while banks set 15-18%

Bharat Rathore runs a small trading business at Taranagar in Churu district, Rajasthan. Each time he needs a loan, he has to go to a private bank in Jaipur. The bank sends a representative to assess his business and takes three to four weeks for the loan to be approved and disbursed.  Last year, Rathore began using app-based lending start-ups such as Lendingkart and Capital Float, which are able to process and disburse a loan in three-four days, precluding the need to go to Jaipur. They use an app to evaluate the application, and approve and disburse the loan ...

image
Business Standard
177 22