InCred, the new age financial services company, which began operations in February 2017, has disbursed Rs 100 crore loans to about 1000 customers in less than 100 days.
“Bulk of the disbursements have happened in the housing and small business segment which is very encouraging since InCred was set up to promote financial inclusion for India’s under-served segment. By leveraging technology, we were able to fulfil our customers’ requirements very quickly in a hassle-free manner” said Bhupinder Singh, founder and CEO, InCred.
InCred has disbursed loans across a broad range of ticket sizes from Rs. 50,000 to Rs.10 crores.
“While we are growing, and expanding our loan book across various sectors and product categories, we are very focused on product design and innovation to deliver products catering to the specific needs of our customers. We are also committed to delivering a superior experience to our customers across their loan journeys with us,” he added.
Customers can access InCred products on multiple channels through its growing network of branches besides very convenient web and mobile platforms. InCred has also established strategic partnerships with vendors that are able to enhance customer reach.
InCred offers loans in four categories:
SME loans: InCred aims to help budding entrepreneurs and small businesses in realizing their growth potential by providing them loans for their working capital and growth capital needs besides, providing bespoke financing solutions.
Consumer loans: InCred targets to provide quick, easy-to-process and fairly priced unsecured loans to consumers. InCred’s consumer loans are the perfect solution for financing various needs of consumers such as medical procedures, weddings, honeymoons, holidays, home renovation, auto repair, debt re-financing, etc.
Home loans: InCred believes that every Indian has the right to own his or her home. InCred focuses on the affordable housing segment (loans of Rs. 10-30 lakhs) to enable the average, hardworking Indian family to buy their dream home.
Education loans: Lack of financing is often the biggest hurdle to a student’s aspiration for pursuing higher education. InCred’s education loans are designed to bridge the gap between personal potential and financial viability for students seeking education beyond K-12, both in India as well as overseas.
