Business VerticalRetail - Grocery
Monthly TurnoverRs. 8,00,000 – 10,00,000
Monthly Banking TurnoverRs. 1,50,000 – 2,00,000
Home RentedNo (Owned)
Business RentedYes
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Ramavtar wanted to fund his new line of business

Ramavtar hails from Rajasthan and came to Delhi to run his father’s business. His father used to run a small grocery shop with minimal daily needs items as offerings. Driven by the zeal to expand his family business, Ram started scouting out new ways. He successfully added wholesale of some items. Also, he tied up with restaurants and hotels in the vicinity for supplies of certain items required in the hospitality business on daily basis. All these expansion initiatives required pumping in money from your side but waiting in return due to elongated credit cycles.

LoanSimple asked for Minimum Documentation

Additionally, Ram built a house for which he had to infuse a lot of business funds. Subsequently, falling short to meet his business working capital requirements, he applied for a loan in the bank. “I was asked for 20 odd documents by 5 different people who dealt my case. Some of those documents, I didn’t even have. I made them on urgent basis just to hear back that I still lack some documents.” When he was going through all this, Ram found LoanSimple listed on an online platform. Desperately requiring funds, he filled the online request form.

Prompt end-to-end process has Ram looking forward for top-up

“I was approached by the LoanSimple sales guys the very next day. He asked for a minimal paperwork which was essentially my KYC documents and proofs of running a legit business. My loan was disbursed within 5-6 days of filling the application.” Apprehensive initially, Ramavtar relishes the prompt end-to-end process and efficient grievance redressal at LoanSimple. He looks forward for a top-up post his initial disbursal of Rs. 5 Lakh as he plans to raise another floor of his house.

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