Samarth is one stop solution for SMEs to get instant loans in less than 5 min. Making credit lending process as easy as cooking maggie.
Current credit system in India has two main problems:
- Unorganised credit distribution
- Asset bases credit solutions
- More favourable to rich people
- High interest rates
- Numerous LSPs(Loan Service Providers)
- Customer has to go through lot of LSPs to find best offer
- Plethora of paperwork
- Overall process can even take days to finalise loans.
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Sep, 2021: RBI released Account Aggregator framework to promote easy credit systems in India
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July, 2020: Nandan Nilkani announced the launch of Open Credit Enablement Network(OCEN) at Global Fintech Festival
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Indian SMEs contribute to 55% of market share with no credit history, and extreme credit requirements.
- Liquidity based credit solution, unlike traditional asset based solution.
- Using Accoount Aggregators to fetch SMEs financial history
- Using data analytics to calculate risk factor on the data
- One platform to get potential offers from all LSPs based on your requirements.
- Using OCEN protocols to pull all LSPs on one platform
- Easy, efficent(time+effort), paperless.