NBFC Seeking Loan in Gurgaon, India
NBFC microfinance loan provider following JLG model with 6,800 loans disbursed and 2,900 registered members.
Premium Plan
| Established | 5-10 year(s) |
| Employees | 50 - 100 |
| Legal Entity | Private Limited Company |
| Reported Sales | USD 117 thousand |
| Run Rate Sales | USD 120 thousand |
| EBITDA Margin | Nil |
| Industries | NBFC |
| Locations | Gurgaon |
| Local Time | 3:18 AM Asia / Kolkata |
| Listed By | Business Owner / Director |
| Status | Moderately Active |
Seeking Loan
USD
118 thousand
for
15.0%
annual interest,
3
years
(Native Currency: INR 10,000,000)
Reason: We need funds to expand the business by disbursing more loans.
Collateral Available: USD 0
Includes physical assets worth
USD
17 thousand
Interested to connect with advisors
Name, Phone, Email
Available after connect
Business Name
Not disclosed
User Verification
Documents
Teaser of Company
(548.5 KB)
Certificate of Incorporation
(208.7 KB)
RBI Registration Certificate
(206.8 KB)
ROC-Verification.pdf
(60.9 KB)
Business Overview
- We are an NBFC company & have applied to RBI for change in status from NBFC to NBFC MFI.
- The company was incorporated in Allahabad but after it was acquired by the current CEO, the headquarters was shifted to Gurgaon.
- We are a microfinance company providing loans to women for income generating activity only. The business does not accept any deposits from their members.
- We have disbursed up to 6,800 loans till date which amounts to nearly INR 15 crore. The business has over 2,900 registered members on the platform as of now.
- Our average ticket size is between INR 25,000- 40,000 per customer.
- We charge 26% of reducing interest on the loan which includes 1% processing fees.
- Our EMI collection is conducted on a fortnightly /monthly basis.
- We do KYC as per RBI norms and follow a JLG (Joint Liability Group) model while disbursing loans. The group size can range from 5 - 20 members. If one member defaults on the loan repayment, the entire group needs to bear its liability.
- Besides that, we conduct a comprehensive background check which includes an inspection of the bank records, Aadhaar card, and PAN card.
- We also conduct a physical verification check of the member's house, check their cash flow and annual income statement and consult the member's neighbours about their financial stability.
- The business also conducts a credit check on their members through Equifax and Highmark and are planning to tie up with another Fintech company for credit evaluation. Owing to our comprehensive due diligence, the default rate on loans are very minimal at around 0.5%.
- The CEO of the company is a Chartered Accountant with 10 years of experience in the finance sector. The COO has over 18 years of experience in the microfinance sector.
- The business has been registered in Allahabad but we operate from a office in Gurgaon.
- The company was incorporated in Allahabad but after it was acquired by the current CEO, the headquarters was shifted to Gurgaon.
- We are a microfinance company providing loans to women for income generating activity only. The business does not accept any deposits from their members.
- We have disbursed up to 6,800 loans till date which amounts to nearly INR 15 crore. The business has over 2,900 registered members on the platform as of now.
- Our average ticket size is between INR 25,000- 40,000 per customer.
- We charge 26% of reducing interest on the loan which includes 1% processing fees.
- Our EMI collection is conducted on a fortnightly /monthly basis.
- We do KYC as per RBI norms and follow a JLG (Joint Liability Group) model while disbursing loans. The group size can range from 5 - 20 members. If one member defaults on the loan repayment, the entire group needs to bear its liability.
- Besides that, we conduct a comprehensive background check which includes an inspection of the bank records, Aadhaar card, and PAN card.
- We also conduct a physical verification check of the member's house, check their cash flow and annual income statement and consult the member's neighbours about their financial stability.
- The business also conducts a credit check on their members through Equifax and Highmark and are planning to tie up with another Fintech company for credit evaluation. Owing to our comprehensive due diligence, the default rate on loans are very minimal at around 0.5%.
- The CEO of the company is a Chartered Accountant with 10 years of experience in the finance sector. The COO has over 18 years of experience in the microfinance sector.
- The business has been registered in Allahabad but we operate from a office in Gurgaon.
Products & Services Overview
We disburse microloans to registered members of our company. Loan amount is usually INR 25,000 - 40,000 for one to two years and the collection of EMI is on fortnightly/monthly basis. Interest charged on the loan is 26 percent.
Assets Overview
Besides the interiors, furniture & fixture of the office space, the business owns 15 computers & 3 printers.
Facilities Overview
Rented office of 2,000 square feet fully equipped with a work station, customer lounge, conference hall, and cabin. Pay INR 82,000 as monthly rent.
Capitalization Overview
Not Disclosed
Recent Activity
-
Earlier than 15 daysPartner, Legal Consulting, Delhi, Corporate Investor / Buyer connected with the Business
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Earlier than 15 daysDirector, Financial Consultancy, New Delhi, Individual Investor / Buyer connected with the Business
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Earlier than 15 daysManaging Director, Fintech, Technology And Artificial Intelligence, Jaipur, Corporate Investor / Buyer connected with the Business
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