QuickCredit: Assisting Low to No Credit Score Individuals with Instant Loans
The Indian Fintech industry is still young and developing, as consumers gradually transition from cash-based transactions to digital alternatives. However, India is a creditstarved nation with the significant credit demand-supply inconsistency. Additionally, banks still lend money to people based entirely on their credit history and provision of complete documentation while potential customers, ideally the younger generation, that does not possess a favorable credit score or/and display information/documentation asymmetry. But this segment of well informed individuals also have enough credit worthy borrowers with high capability/credibility who are willing to pay a premium for convenience, less paper work, instant approval and immediate cash deposit. This market segment has a lot of untapped potential.Perfectly poised to cater to this market segment is Hyderabad headquartered QuickCredit with its AIbased cutting-edge online lending FinTech platform that provides borrowers with instant, flexible, online cash loans without needing any hectic paperwork and security. “At QuickCredit, we are striving to get the red tape out of the entire process of availing credit. So, a Simple OneTime Registration is followed by a Quick Verification/Approval and Instant Fund Transfer. We provide round-the-clock online cash. With a fast and an easy process enabled with algorithm based approval, we provide loans without Cibil score,” informs Akhil Kumar Gunda, Founder of QuickCredit. Akhil, a graduate from the Indian School of Business, with a strong inclination towards the field of finance in tandem with the FinTech industry booming across the world and starting
in India led him to think about FinTech and Digital Lending that caters to Indian borrowers. This is where QuickCredit came into play.
Catering to a Myriad of Customers
Currently, the platform has more than 30 Lakh visitors, five Lakh approved borrowers and are disbursing around 20K loan applications on a monthly basis. The company has begun serving every Tier 1 and Tier II city in Hyderabad. Incepted in 2016, QuickCredit concentrates on catering the working-class individuals in SME, MSME and MNCs who have either a low credit score or no credit score. “We check whether the person is salaried irrespective of credit score, if they receive salary they are credible for us,” adds Akhil.
Having already gained a strong foothold in this sector, QuickCredit envisions further expanding its reach to 200 cities by 2021. Akhil concludes, “We want to establish this as credit platform for every borrower looking for instant online term cash loan irrespective of credit score. Apart from Instant Cash Loan, we will be offering Instant EMI Loan as well. A borrower can choose a combination of both Instant Cash Loan and Instant EMI Loan.”
Catering to a Myriad of Customers
Currently, the platform has more than 30 Lakh visitors, five Lakh approved borrowers and are disbursing around 20K loan applications on a monthly basis. The company has begun serving every Tier 1 and Tier II city in Hyderabad. Incepted in 2016, QuickCredit concentrates on catering the working-class individuals in SME, MSME and MNCs who have either a low credit score or no credit score. “We check whether the person is salaried irrespective of credit score, if they receive salary they are credible for us,” adds Akhil.
He goes on to explain how the borrower can gain access to the easy-to-use platform via the app or website and has to complete a very effortless process to apply for an instant cash loan in three steps where all the user has to do is login, upload documents and avail an instant loan. The borrower can avail four types of loans comprising Cash Loans, Salary Loans, Skill Loans and Travel Loans.
At QuickCredit, we are striving to get the red tape out of the entire process of availing credit
Having already gained a strong foothold in this sector, QuickCredit envisions further expanding its reach to 200 cities by 2021. Akhil concludes, “We want to establish this as credit platform for every borrower looking for instant online term cash loan irrespective of credit score. Apart from Instant Cash Loan, we will be offering Instant EMI Loan as well. A borrower can choose a combination of both Instant Cash Loan and Instant EMI Loan.”
