This startup acts as a catalysts for MSME to get loans from banks, NBFCs
Cointribe's main objective is to lend collateral-free loans to salaried individuals and business professionals.
How to get easy MSME loans: When it comes to applying for loan, it is a chain of processes to finally attain the required funds. Acquiring loans from banks is one slow process compared to the fast pace digital world we live in. Cointribe, a startup, provides quick and easy online loans, without much hassle. This start up is an online lending market place that lends funds to Micro & Small Enterprises and individual borrowers.
Started in the year 2015 by Amit Sachdev, Manish Chaudhari, and Rohit Lohia, Cointribe's main objective is to lend collateral-free loans to salaried individuals and business professionals. Cointribe is an online based platform which functions on two models: i) as a lending marketplace wherein it lends loans and credit assessment and ii) as a service provider by connecting their customers to potential lenders such as the banks and NBFCs.
This lending startup has an improvised algorithm that creates your score card in a small span of time, with instant approval procedures. The system is heavily encrypted, hence ensuring utmost security when you fill in your personal details. It also is the first of its kind to have the facility of e-Aadhaar card, digital signature and scanned bank documents.
Cointribe provides loans ranging from 1 lakh to 50 lakhs, for tenure duration between 12 to 36 months. The interest rates levied on the loans are 16% onward. The firm has well known lending partners such as Axis Bank, YesBank, SMC finance, RBL bank, Kanika Investment Limited, IIFL, Fullerton India and Clix capital.