SMEcorner.com, an online loan facilitator for small businesses, has been picked for Google’s start-up mentorship programme ‘Google Launchpad’, a top company executive said. Also Read - The Indian connect: From Parag Agrawal to Sundar Pichai, Indian minds are ruling the tech world
“SMEcorner.com has been identified among 25 companies for the Google Launchpad programme that started its India chapter last year,” company’s founder and chief executive Samir Bhatia told PTI. Through the programme, SMEcorner will get access to several resources, including mentors, user-testing benefits, developer community programmes, workshops and forums, cloud storage and the like, he said. “This will help us further establish our platform,” he added. The online player offers four types of products to its clients – working capital loan, unsecured business loan, loan against property, and loan for medical equipment. Also Read - Google News Showcase gets support for Malayalam and Bengali
Started six months ago, SMEcorner has tied up with four top private banks, including Axis Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank, and 12 non-banking finance companies (NBFCs) so far. The company is in talks with more banks and NBFCs for partnerships in coming months, Bhatia said. The platform has also teamed up with leading e-Commerce players, including Flipkart, Snapdeal, paytm, and ebay, to arrange finance for its sellers. Also Read - Over 600 illegal loan lending apps available on different App stores in India: RBI report
It provides loans in the range of Rs 3 lakh to Rs 25 crore. “We get about 500 applications a month, and enquiries from across the country. Several of these are from micro-businesses,” he said. Of these, we forward 10 percent of applications to banks and approvals vary, he said.