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Cash Suvidha Rolls Out an Android App for the Faster Loan Approvals

By: DT NEWS NETWORK
June, 01, 2018

Cash Suvidha, a fast propelling Fintech company extending business loans to SMEs, MSMEs, Startups, and women entrepreneurs across India, has announced the launch of its new android application to provide easy lending services on the go. The company targets around 1000 loan applications per day to be made through its Android App.

The Application by Cash Suvidha is a one stop solution for money lending and provides its users with a hassle free interface. The App allows users to submit loan applications, capture & upload documents’ images and get immediate approval. The applicant gets the loan amount disbursed within 48 hours. This step is in a direction to simplify the lending process, enhance the speed, increase transparency and improve customer experience.

The application provides real time solutions to its users. Users can apply for the loan anytime and from anywhere with just one-click. It also allows the users to generate their own ‘Suvidha Social Score’ –Cash Suvidha’s in-house social scoring model helping its internal credit team to get a better sense of borrowers which is not captured by traditional scoring algorithms. It is the combination of customer’s social media profile & professional media profile. With updates in the later stages, the app would also enable the users to track their loan status & calculate EMIs, etc.

Commenting on the same, Mr. Rajesh Gupta, founder, Cash Suvidha, said “Owing to the Digital India Programme by the Indian Government, India’s digital infrastructure is coming to life, with a combination of policy and technological innovation. The country is moving rapidly towards a digital-first economy. We therefore aim to provide our fast moving young professionals with hassle free and time saving loan application & disbursement.”

The initiative is a part of Cash Suvidha's commitment to provide easy access to finance. Apart from stirring the journeys of budding and longstanding entrepreneurs, Cash Suvidha, also deals with women empowerment on a micro level.

About Cash Suvidha:

Cash Suvidha; a trade name of Usha Financial Services, is a Startup Fintech company, which extends business loans to SMEs, MSMEs, Personal Loan and women entrepreneurs for income generation purpose & personal loans to individuals. Apart from stirring the journeys of budding and longstanding entrepreneurs, Cash Suvidha, also deals with women empowerment on a micro level.

Cash Suvidha aims to fill the market gap that's not allowing visionaries in uplifting their dreams towards real touch of the business world - establishment or enlargement of a profit-making entity.

Cash Suvidha has efficiently served customers right from the era of cash to emerging cashless economy. Digital banking is an integral part of their operations. Through Cash Suvidha, digital-savvy entrepreneurs can avail financial services seamlessly as they navigate through their progressively digitized lives.

In terms of growth story, Cash Suvidha began its operations in May 2016 after which they have been playing a significant role in empowering people to fulfill their ambitions. Within a short span of one year of its operations, the company has tied up with over 18-20 players to expand business across India and has targeted a 4x increase in processing loan applications. In terms of future plans, Cash Suvidha is targeting more tie-ups for business expansion.

Since its inception, Cash Suvidha has disbursed to 40,000+ borrowers and the average ticket size of loan is Rs 20,000- Rs. 5,00,000

 

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