Sashank Rishyasringa and Gaurav Hinduja founded Capital Float in 2013 after seeing the huge need for small business loans. They wanted to leverage technology to help SMEs grow and create a win-win ecosystem for everyone.
The company uses video-based KYC to onboard customers and provides quick turnaround on loan disbursements. They provide point-of-sale financing, working capital, and term finance to ecommerce merchants and sellers.
1. Quick Loan Approval
The process of getting a business loan from Capital Float is fast and hassle-free. The company offers loans with no guarantor or collateral required, and the approval time is usually less than 3 days. The company also offers competitive interest rates.
In 2013, Stanford graduates Sashank Rishyasringa and Gaurav Hinduja saw a large market for financing small businesses in India that were being underserved by banks. They founded Capital Float, an RBI-registered NBFC that provides working capital finance for ecommerce sellers based on cash flows and expected receivables.
To streamline the process, the company developed its own technology platform and built a decision engine. This allows them to create different products and customize them according to their risk appetite. They also use Aadhaar-based eKYC and video-based customer identification to verify applicants. This has helped them reduce the costs and delays associated with earlier processes. The company also uses AI and ML to automate the process of screening and underwriting loans.
2. Easy Application Process
The process of applying for a capital float business loan is very simple and hassle free. This is because you can apply online and upload the necessary documents digitally. The company also provides a handy tool to calculate your EMIs. This way, you can make sure that you are able to afford your loan.
Moreover, capital float business loans are collateral-free and require minimal documents. You can also get a loan with a low credit score, which is not possible in most banks. In addition to this, the company has a competitive interest rate that is very pocket friendly.
The company’s core factors were automation, integration, financial inclusion, and designing new-age underwriting models. It also built its own decision engine for consumer lending, which allows them to scale up faster and more flexibly than other players in the space. This has helped them pre-emptively offer credit to customers, cross-sell services, and tap into intelligent trends.
3. Low Interest Rates
The founders of capital float benefits realized that the traditional lending systems in India had failed to eradicate the hindrances of availing loans and were leaving a colossal chunk of the customer base unserved. To overcome this issue, they decided to eliminate the hassles and expedite the process of evaluating credit requests and disbursing funds. To accomplish this, they embraced cutting-edge technologies that enable them to deliver a superior customer experience.
Sashank Rishyasringa and Gaurav Hinduja founded Capital Float in 2013. The company is an RBI-registered NBFC that offers loans to small businesses. Its products include term finance, working capital financing, and point-of-sale financing. It also offers a range of risk-based collateral-free working capital facilities.
The interest rates charged by the company start at 18% p.a. The loan tenure can be between 1 and 3 years. The company provides a quick turn-around on loan disbursement. It is a good option for entrepreneurs looking to expand their business quickly.
4. Easy Repayment
Sashank Rishyasringa and Gaurav Hinduja, co-founders of Capital Float, realized that ecommerce marketplace sellers were having trouble getting loans. They wanted to address this gap using technology. So in 2013, they founded the RBI-registered NBFC to offer short-term working capital finance and point-of-sale financing to small businesses.
The company offers a quick and simple process to apply for business loans. Its platform evaluates applications based on quantitative details like financials from e-commerce partners and qualitative details such as customer feedback. It also assesses borrowers’ attitude toward credit and their capacity to scale a business.
Additionally, the company has a wide range of loan options available for different types of businesses. These loans are available for a period of 1 to 3 years. The company has a convenient EMI calculator on its website that helps customers calculate the amount of money they will be required to pay each month. This allows them to determine whether the loan is right for their needs.