Happy Loans to disburse 7 lakh MSME loans by end of 2020

New Delhi, Aug 1 (KNN) Happy Loans, an innovation-driven working capital fulfilment platform for Indian MSMEs, has projected disbursing more than 7 lakh loans to micro enterprises operational across key geographies of the country.

Unveiled its growth projection and roadmap for the next two years, Manish Khera, Founder and CEO, Happy Loans said, “By 2020, we will disburse about 7 lakh loans to MSMEs as our in-house projections indicate. This will help these MSME businesses to fulfil their working capital needs and to avail emerging business opportunities within the market.”

He said the company is confident that with its unique approach the company will be successful in bringing the desired level-playing field for underserved businesses in India.

At present, the platform has disbursed more than 18,000+ MSME-based merchants loans. The platform also has over 15 partners onboard, giving it an access to over 5 million merchants across the country.

Happy Loans is a digital financial service provider offering business loans as low as Rs 2000 for as short as 3 days.

Some of its most creative products are - Weekend loans & 90-day loans.  Happy Loans are 100% digital and are available on tap for merchants to boost their working capital requirements.

The model is dependent on state-of-the-art technology build with Artificial intelligence and machine learning.

The risk is based on alternate data and over 50% of the borrowers have absolutely no record with the credit bureau. The entire focus of the business is on the user-experience enabling smart solutions like automated repayment, loan on-tap and so on. 

The company has partnered with multiple merchant aggregators (POS vendors, BC network, E-commerce platforms with sellers & more) to enable their merchants with instant loans. Some of the partners are: Aditya Birla Payments bank, Mswipe Technologies, EKO, Sugal and Damani's Payworld, Weizmann forex's Jaldi cash and so on. The business operations took flight from Feb 2017. The company is registered as ArthImpact Finserve Pvt. Ltd.