Inditrade Capital Limited Business/SME Loan

Overview Inditrade Capital Limited

Inditrade Capital Limited is a digital platform where technology is used to provide financial help to customers irrespective of Individuals, or groups of communities across the nation level. Inditrade Capital Limited is helping in the growth of the Indian economy by providing financial assistance to corporations that do not have the proper capital to invest in the smooth functioning of the nation.

Read More: Business Loans and Top 14 Types of Business Loans

About Inditrade Business

Inditrade business was formed in the year 1994 by Vignesh Ramamurthy. The Inditrade company is a digital lender that offers funding to underprivileged or rural customers at every level. The core components of the Inditrade business are finance, insurance, Scalerator, and boon box schemes. Numerous other services are offered to consumers in the finance sector to help them attain their aspirations and reach their objectives. The financing for Inditrade’s operations is provided by schemes like “Agri-commodity Finance,” which essentially provides funding to those working in the agricultural sector, and “Microfinance,” which provides funding to women in rural villages and towns in order to promote women’s entrepreneurship and establish women’s empowerment.

MSME finance – INCASH” is the funding, which is provided to micro, mini businesses to help them perform their business operations smoothly in an effective way and the last scheme of Finance is the “Indikash” where finance is given in the form of personal loans to the customers of rural areas for their smooth survivals.

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More about Inditrade Capital Limited

Inditrade Capital Limited is a digital platform where technology is used to provide financial help to customers irrespective of Individuals, or groups of communities across the nation level. Inditrade Capital Limited is helping in the growth of the Indian economy by providing financial assistance to corporations that do not have the proper capital to invest in the smooth functioning of the nation. The national economy increases because of these financial systems.

Read More: Edelweiss Financial Services Ltd Business/SME Loan

Highlights of Inditrade business

  • Inditrade Microfinance is mainly focused on women empowerment for the women living in small villages and towns.
  • The Inditrade Microfinance loan is offered in the range of Rs. 10,000 to Rs. 60,000 to help rural women in starting their businesses and achieve their goals.
  • People who apply for MSME Finance are retailers, whole sellers, and E-commerce persons from rural areas.
  • The personal loan applied through Inditrade Indikash is offered between Rs. 5,000 to Rs. 75,000.
  • The MSME Finance -INCASH is a business loan of unsecured loan type, which does not require security or collateral documents for a business loan.
  • The MSME Finance -INCASH loan is sanctioned within 48 hours from the time application is submitted and approved.
  • The Inditrade finance for business offers an easy EMI option based on the capability of the business and the affordability of the business owner.
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Inditrade financing schemes for businesses

Inditrade Capital Limited provides finance to many SMEs and MSMEs depending upon the business type, where the range of amount offered is from Rs. 5,00,000 to Rs. 50,00,000. Likewise, this type of scheme is beneficial for all businesses where the operations can smoothly grow rapidly with funding. Some of the business loan funding schemes provided by Inditrade are as mentioned below:

Read More: SBI Business/SME Loan: Benefits, Features, Documents, Eligibility

MSME Finance -INCASH

MSME Finance or INCASH is the scheme which is provided by Inditrade for businesses or rural areas for promoting their businesses. The loan is sanctioned within 48 hours from the time application is submitted and approved. There are no collateral documents needed when applying for the business loan and also this scheme provides flexible installment options depending on the affordability of the business. Payment can be done in multiple modes.

Customers who opt for MSME finance are mainly retailers, whole sellers, and E-commerce. MSME Finance or INCASH  offers two main products for the customers to choose from depending on the requirement of the business loan. The two major products of Inditrade MSME Finance that are offered to the business owners of rural areas are as follows:

Business Income Loan: A business Income loan is provided by Inditrade MSME Finance to rural people for helping them to expand their business and the amount sanctioned to them under the Business Income loan is between Rs. 5 lakhs to Rs. 50 lakhs. This Business Income Loan is an unsecured loan type where customers are not required to submit their security documents or collateral documents. The loan amount is sanctioned by performing a credit analysis which is based on the audited financial and bank documents. The more the credit score, the more the loan amount is granted. The repayment tenure assigned is up to 36 months with an easy monthly EMI option based on the affordability of the customer.

Merchant Cash Advance: The Merchant Cash Advance is offered to the customers for fulfilling the business expenses with a loan amount between Rs. 5 Lakhs to Rs. 50 Lakhs. The loan type applicable to this scheme is an unsecured loan which means, without submitting any security or collateral documents loan is disbursed. Credit analysis is performed to sanction the loan amount based on the credit card purchase or digital sales and the cash flow of the business. The tenure assigned to Merchant Cash Advance is of 24 months. The repayment option offered is daily, weekly, or fortnightly based on the capability of the business.

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The methodology followed in MSME Finance -INCASH Finance:

  • In the first stage, the online application site through the web, application, and partner portal is to be signed.
  • In the second stage, the identity of the customer is checked through KYC; and other documents.
  • In the third step, the score card where the basic details, cash flow, and creditability score are checked.
  • In the fourth step, the approval process takes place where the invoice is generated.
  • In the fifth stage, validation by sending OTP is done.
  • In the sixth stage, a fraud check is done where the background verification is done.
  • In the seventh stage, a credit decision is taken by the underwriter who provides offers that are suitable for the applicant.
  • In the last stage, flexible repayment depends upon the affordability of the customer.

Read More: Axis Bank Business Loan: Features, Benefits, Interest Rates

Who can apply for Inditrade MSME Finance-INCASH?

The main factors which define the eligibility of customers to apply for business loans are as mentioned below:

Nationality: The applicant who applies for the business loan under MSME Finance or INCASH must be a citizen of India.

Age: The age of the customer plays an important role as it is the deciding factor of the loan amount. The customer must be in between 21 – 60 years. The younger the applicant the more the loan amount is sanctioned and vice versa.

Occupation: The occupation of the customer could be a salaried employee with more than three months of experience.

Income: The income of the loan applicant must be a minimum of Rs. 20,000 per month in order to avail of the MSME Finance-INCASH.

Credit Score: The credit score of the business must be high enough to avail of the MSME Finance-INCASH. A credit score above 650 is considered eligible enough for a good amount of loan.

Read More: How to Get Business Loan in ICICI Bank?

Inditrade Microfinanc

Inditrade Microfinance is the finance that is provided to the women of rural areas to empower them in small towns and villages. The Inditrade Microfinance loan helps them to start a new business or to expand an existing business by increasing the productivity of the business. Inditrade Microfinance loan amount is offered in the range of Rs. 10,000 to Rs. 60,000 to help them in starting their businesses. Depending on the affordability of the women the premium is offered.

There are many products available under Inditrade Microfinance that help a number of women in their growth by fulfilling the needs of their business and helping in the smooth functioning of the business. The products are as mentioned below:

Shiksha

“Shiksha” word means “Education”, Shiksha is the educational loan that is provided to the women of small villages to help them with their education. The Shiksha loan of Rs. 5,000 is provided in 25 installments to be paid each in two weeks.

Sulabh

Sulabh is a kind of loan that is offered to women for consumption purposes, women can make use of these loans in order to run their businesses or home appliances smoothly without any problem. The loan offered in Sulabh is Rs. 5,000 which needs to be repaid in 25 installments each in two weeks gap.

Ujwal

Ujwal is a loan that is provided to women for income generation. The loan amount provided herein Ujwal scheme is Rs. 10,000 to Rs. 30,000. The installment is to be paid in 25 installments fortnightly.

Pragati

Pragati is a loan scheme that is given to village women customers who opt to take a second loan after successfully completing the first loan taken. After checking the first loan installment track records, the second loan is provided to the women customers for helping them progress. The loan provided in this scheme is from Rs. 20,000 to Rs. 60, 000 which has to be paid in 53 installments fortnightly.

Vikas

Vikas is another scheme from Inditrade Microfinance that is provided to women of small towns where the already existing customers are given loans based on their track records from their previous loan installments. The loan amount is from Rs. 5,000 to Rs. 15,000 which needs to be paid in 53 installments fortnightly.

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The methodology followed in Inditrade Microfinance

There are some methods undertaken by Inditrade Microfinance in order to distinguish women who need the loan and the process to sanction loans, training customers on loan management.

  • In the first step potential, women are classified by considering their ideas of entrepreneurship.
  • In the second step, groups of women are formed who share similar kinds of entrepreneurial ideas support each other and contribute to their success.
  • In the third step, KYC documents are verified and checked.
  • In the fourth step, a digital application is filled out, and a loan is sanctioned to the woman.
  • In the fifth step, women are given training on loan management.
  • In the sixth step, the loan amount is distributed depending on the location of the women’s stay.
  • In the last step, the loan amount is recollected in the form of installments periodically.

FAQ’s

How to contact Inditrade for the inquiry?

What does Inditrade Microfinance deal with?

What are the factors considered while applying for Indikash eligibility?

What is Inditrade Scaletrator?

Who can apply for MSME finance?

What is Business Income Loan under MSME Finance-INCASH?

What is Merchant Cash Advance(MCA) under MSME Finance-INCASH?

The Merchant Cash Advance is offered to the customers for fulfilling business expenses. The loan type applicable to this scheme is an unsecured loan which means, without submitting any security or collateral documents loan is disbursed. Credit analysis in MCA is performed to sanction the loan amount based on the credit card purchase or digital sales and the cash flow of the business

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