Lendingkart Finance targets 300 pct growth by FY’18; aims nearly 650 cities

New Delhi [India], May 17 : Expecting growth trajectory of 300 percent by the end of FY18, leading NBFCs in the SME working capital space Lendingkart Finance on Wednesday announced its expansion plans with reach to over 650 cities across the country.

Catering close to 8,000 SMEs till date, Lendingkart Finance has assessed over 4,000 variables to determine the financial health, comparative market performance and social reliability quotient of borrowers to determine their creditworthiness.

By leveraging on a robust technology platform, it facilitates seamless disbursal of loan and has witnessed more than two lakh SMEs across the country reaching out to them for their credit requirements.

"With a focus on empowering small enterprises, especially those belonging to the unbanked population, Lendingkart Finance has continuously aimed at making the loan disbursal process simpler and seamless through minimum documentation," said CEO and co-founder Lendingkart Technologies, Harshvardhan Lunia.

As per the MSME ministry, although banks or formalized institutions have covered large part of the country, yet over 35 percent SMEs in the country does not have access to formalized institution.

The demand of alternative lending platforms has increased quite significantly among SMEs in tier II and III cities and Lendingkart Finance is playing a critical role in addressing the largely underserved market by simplifying the loan disbursal process.

Source: ANI