Best Instant Personal Loan App - SmartCoin
SmartCoin is a mobile-based lending platform that enables instant credit access for the vast underserved lower- and middle-income communities combining cutting-edge AI/ML technologies. We lend to a largely underserved market hitherto not served by banks, NBFCs, or microfinance institutions. Our product offering includes small-ticket personal loans to micro-merchants, self-employed and salaried individuals, who mainly borrow to fund their economic advancement. Use cases include working capital for micro-merchants, fuel and vehicle repair funding for delivery executives, vocational training for micro-entrepreneurs, and blue/grey collar workers' emergency medical needs. We are bridging the gap for accessible loans for their day-to-day needs. As reported in BCG 2017, 24Mn households in India who fall in the elite and affluent income categories have access to up to 80% of all formal loans, amounting to $202 Bn in credit. In contrast, the 124 Mn households with an annual income betwee...