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Capital Float introduces Proprietor Loans to support micro-entrepreneurs in India

Capital Float, the largest digital lending platform in India, announced the launch of Proprietor Loans that facilitate financial inclusion and business growth for micro-entrepreneurs in India. The product targets the small retailer segment like salons, medical stores, kirana, mobile phone retailers, small restaurants, etc. who face challenges in obtaining loans for business expansion from traditional lenders. Proprietor Loans aims to reduce documentation and the time taken to avail a loan in comparison to traditional banking services.

“We ran extensive multi city pilots and are glad to see the end result. Our tradition of being pioneers of digital lending in India continues, as we’ve created an entirely paperless process through the app and achieved low unit economics to penetrate a vast market that was untapped. We’ve ensured that the customer experience remains top notch, as the borrower receives the loan in minutes by providing their AADHAAR number. We’re currently adding 2,000 borrowers a month and expect to reach 5000 borrowers per month by March 2018,” said Sashank Rishyasringa, co-founder, Capital Float.