Business VerticalAutomobile Tyre Sales & Repairs
Monthly TurnoverRs. 3,00,000 – 3,50,000
Monthly Banking TurnoverRs. 10,000 – 15,000
Home RentedYes
Business RentedYes
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LoanSimple's understanding of micro-busineses helped Siraj get a credit line

Mohammad Siraj who hails from Muzzarfarpur came to Gurugram in 2006 with friends and started working on tyre repair shop at a filling station. After learning the tricks of the trade for over 8 years, he found an opportunity to run his own business when one of the petrol pump dealer’s offered to set up shop. Following his gut, he set up his own but majorly dealt in refurbished and second hand goods. “I always wanted to grow and diversify my business by adding retail of branded stuff but procuring credit for the same was always an issue as my line of business is not looked upon with a lucrative eye by the traditional institutions.” “I was even denied a credit card by one of the top banks” adds Siraj. Both business and residence being rented, and cumbersome paperwork further makes the process more strenuous. Call it a twist of fate, Siraj happened to meet one of LoanSimple’s sales agents who had pulled up for a fuel refill. With minimal paperwork and absolutely no collateral requirements, Siraj was extended a credit line at a lightening pace.

LoanSimple helped Siraj set-up new business line

He used his first loan funds to buy new branded inventory and buy a pollution control equipment for vehicles. “That was a service I couldn’t provide before,” he says. With summers kicking in Siraj fancies on purchasing an inventory of spare tyres that are really in demand and hence is looking for a top-up. He was so impressed by the service that he even referred his sister-in-law who runs a salon. “Apart from flexible and transparent repayment system, what impresses me the most about LoanSimple is their unbiased attitude towards my work and the fact that I don’t own my house and business premises is in no way an impediment to procuring legitimate credit” Siraj adds.

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