Fintech startup ArthImpact has launched on-tap loans for small businesses and families in India. ArthImpact’s model leverages technology to create a new-age, fairer way of banking – fun, accessible by all, and available anytime and anywhere. ArthImpact has been founded by fintech professionals Manish Khera and Gautam Ivatury.
“Today, banks and new-age lenders have introduced online loans to a narrow set of professionals and medium-sized enterprises. Our mobile platform and analytics-rich solution enables on-tap access for customers needing a few thousand to one lakh rupees at short notice, said Manish Khera, founder ArthImpact.
“This will help fill gaps in family finances or small business cash-flow. We want to provide digital financial services to customers at economical rates so as to make positive impact on customer’s life,” he added.
ArthImpact says its primary research revealed a dire need for easy cash management among customers in the Rs 1 lakh to 5 lakh per annum income bracket – including shopkeepers, traders, and semi-skilled workers in urban and semi-urban areas.
“Because we target people who are borrowing formally for the first time, we’re investing heavily in a simple and easy experience – a paperless application process, instant approval, and disbursement within seconds. To reach scale, we’ve already tied up with aggregators serving over 6 lakh small entrepreneurs across the country,” commented Gautam Ivatury, founder, ArthImpact.