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A quick guide to various credit alternatives for small business owners
Access to credit is one of the most painful points among the MSMEs in India. However, with alternate data, GST data stack and AI-driven algorithms, MSMEs are hoping for a change in the credit positions - P2P lenders have stepped up to take up the challenge.
Small enterprises end up approaching the unorganized private sector lending agencies or the loan sharks who charge an exorbitantly high-interest rate and have exploitative practices, but here's the solution
Ease of regulation will not only help in bringing more players to the sector but will also help to bring large and last mile unbanked person to the financial system and will also support Digital India to a great extent
Transaction value in the P2P segment is about $1,123m and this number is expected to grow at CAGR (2019-2023) of 19 per cent
The objective of investors is to not only expand to new markets but also implement their developments comprising blockchain technology
P2P lending is like any other investment, so you need to understand the category before lending.
The documentation required is also simpler as compared to bank loans
As of now, the banks are still supporting the deposits and withdrawals and this may exist for next 3 months before the RBI guidelines come into effect.