Star Spa

LoanSimple became Samin's reliable partner and helped expand his business

Samin Hossain hails from West Bengal and came to the NCR region in 2014 in hope of joining the army. Not being able to do so after repeated attempts, he started working at a Spa in order to stay afloat. Learning the ins and outs of the game in 1.5 years, Samin backed himself on running his own spa business by taking one of the running ones on lease. Fairing out well on his venture, he took one more spa on lease but soon the working capital needs started to catch up and Samin ended up in a dilemma. “Like everyone else I explored all the traditional alternates to procure credit but only returned home disappointed because of the generalisation of illegal operations running under the garb of spa business.” “Extensive paperwork, stringent guarantee requirements and massive turnaround time further add to the agony when I was in desperate and urgent requirements of funds”, Samin adds. He used his initial LoanSimple funds to cover up for the renovation and paint work expenses. Having already raised 3 top – ups, Samin has successfully leased on 3 Spas and employs a staff of 15 people.

Samin found LoanSimple's application process quick & simple

“I found LoanSimple through a web reference and trust me when I say this, procuring funds was as easy as ordering food online”. Stirred by the transparent and automated app-based repayment system and effective grievance redressal Samin looks up to LoanSimple as his trusted partner in growth.