i-lend.in- revolutionizing small personal loans market online!

Promising to change the conventional method of taking small personal loans, a new tech-savvy approach has been launched for the convenience of people in need of a loan. Introducing i-lend.in, a social/P2P lending platform currently based in Hyderabad.  It’s unique way of funding people’s needs for money at a reasonable rate of interest is their USP!

Presently, banks raise money from a high lending costs. Costs with a higher rate of interest and it operates on the difference in those interest rates (arbitrage). For instance, as a savings bank account holder, one can get an interest rate of 4% while the bank lends the same amount to its borrowers at 18% to 24%, thereby securing that additional percentage that covers its operational costs as well as profits.

i-lend.in brings together borrowers & lenders on its platform

What i-lend.in does is crucial. It omits middleman, which in this case is the bank, and helps people who are in need of money. They borrow directly from people who are in no dearth (shortage) of it, and are willing to lend while earning a rate of return that is better than what the banks have to offer them. All they have to do is, accept the moderate risks involved that are involved in any transactions conventionally. While the lender gets a good return starting at 15%- which is a lot more than a bank offering; the borrower can get a loan starting at 15%- a rate lesser than what a bank or a private money lender asks for. Thus, its a win-win situation for both the parties involved and i-lend only charges a small fee for facilitating this through its online portal.

While i-lend.in facilitates mutually beneficial small personal loan transactions, they maintain a strong framework by verifying the credentials of its borrowers. To ensure this, only creditworthy borrowers are allowed to request loans. It also performs complete due diligence during verification ( the individual needs to meet a certain criteria and are further filtered to be able to request a loan). It further carries out documentation procedures for lenders such as loan agreements, loan monitoring and general follow-ups. In the unlikely event of default, it engages a collection agency for the collection on behalf of the lender.

Currently, being piloted in Hyderabad, i-lend.in has the potential to disrupt the personal loans marketplace, once this service goes national. P2P lending as an asset class, is active in over 35 countries and several ventures are being planned in this space all over the world. Lending Club, a similar company in the US is presently valued at USD 3.8B and is planning for an IPO shortly. India with its vast middle-class population, is a huge market opportunity for i-lend.in to dis-intermediate this space and deliver value on both sides (borrowers and lenders).

Founded by VVSSB Shankar and Ms. Niti Gupta, i-lend.in went live in 2013 and is now preparing itself to increase its presence in other cities in India. Validating almost all its targets during the pilot stage, i-lend.in raised a round of funding from Angaros Group*

*Angaros is a leading provider of advisory, capital and consulting services to early-stage companies worldwide.

About i-lend

i-lend is an online platform that enables borrowers and lenders directly negotiate and strike a deal. Providing low cost loans at lesser interest rates for borrowers, i-lend enables lenders make quick returns. Allowing only credit worthy borrowers and lenders to transact via the online peer to peer platform, i-lend gives its users an ultimate secured gateway for financial transactions.

For more, check:

Website:     www.i-lend.in
Facebook:  www.facebook.com/ilendindia?fref=ts

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