Poonawalla Fincorp Launches 'Business Loan 24/7' For MSMEs With Instant Digital Approvals

New Delhi, Jun 9 (KNN) Poonawalla Fincorp has introduced Business Loan 24/7, marking what the company describes as an industry-first digital lending solution specifically designed for micro, small, and medium enterprises. 

The new product features a digital risk assessment model that provides instant loan approval with flexible repayment terms for MSME borrowers.

The lending platform operates entirely through digital channels, utilising a Straight Through Processing model that eliminates traditional requirements for branch visits and physical documentation. 

The system is designed to offer a streamlined onboarding and approval process for business customers seeking credit facilities.

According to the company, the solution incorporates advanced analytics and risk assessment frameworks to evaluate creditworthiness for self-employed individuals and MSME borrowers. 

The platform processes digitised information directly from source documents to conduct risk assessments that extend beyond conventional credit evaluation metrics, with the stated goal of facilitating responsible lending to enterprises positioned for growth.

(KNN Bureau)