Success Story of Loanwalle.com-Providing Instant and Short-term Loans

We have time and time gone round and round about the perks of digitization. The loan processes that would take months and had such cumbersome requirements are now available at just one click. Thanks to digitization! One such fintech startup is Loanwalle.com founded by Sachin Mittal in 2015.

About Loanwalle and How it Works
Loanwalle - Target Market Size
Loanwalle- Founders and team
How was Loanwalle Started?
Loanwalle - Name, Tagline, and Logo
Loanwalle - Startup Launch
Loanwalle - Competitors
Loanwalle - Business Model and Revenue Model
Loanwalle - Growth
FAQs

About Loanwalle and How it Works

Loanwalle deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for. To fulfill the fast money requirements of the customers, the loan approval process is fully automated and is based on an algorithm that assesses the applicant’s creditworthiness and grants loan within no more than 30 minutes.

It is a short-term borrowing wherein the company extends high-interest loans to salaried customers on the understanding that they would repay the loan amount along with interest on the day they get their salary. The maximum tenure of the loan is 30 days. The customer has to repay the loan on the due date along with all the interest or be subject to a penal interest for the subsequent days that he fails to repay the loan. The customer has the option to borrow once again on repayment.

Loanwalle.com offers a fintech loan product that can be approved and disbursed within minutes. This type of loan is unique in the model worldwide, due to the requirement faced by all segments of people and there is hardly anyone to meet these requirements.

It has been designed in such a way that this type of loan stands out as being different from all other loans. It is not personal loans for a long duration but is taken to meet an emergency at home or work. And due to the emergency requirement, this becomes the most approachable option.

Loanwalle.com follows a disruptive lending pattern that uses data-driven algorithms to help people with instant loan requirements 24x7, 365 days a year. It uses an advanced technology system to simplify loan application processes as well as the sanctioning process to allow loans to reach faster to the customer. The app underwrites loans using banks and CIBIL analyzer, data in phone, text, social media connections to determine creditworthiness.

Loanwalle - Target Market Size

Roughly, the payday loan market in India is estimated to be at INR 100 crores, with rapid growth in the market since 2016, when the demonetization happened. As many as 100 start-ups were born over the last three years and similar growth is projected in the next five years.

Top 32 FinTech Startups of India | Indian Fintech Companies in 2021

Fintech, short for financial technology, has become a crucial part of the globaleconomy., all financial tasks were completed through paperwork only, aspaper-based medium was considered to be the safest. But with the development oftechnology, internet has emerged as the preferred platform for fina…

StartupTalkyAshwini

Loanwalle- Founders and team

Founded by Sachin Mittal, Director, and CEO, the company has an efficient team of professionals drawn from the banking and financial sector, who run the day-to-day operations efficiently. Operations are led by Abhijit Banerjee, another director of the company with well-carted divisions like Credit, Disbursal, Recovery, Marketing, Telecalling and accounts and finance. Each division is headed by a competent professional. Loanwalle.com has 17 branches across the country with a manager heading each center.

Loanwalle- Startup Launch

The idea for Loanwalle.com was stemmed by observing the inability of banks to extend small and short term instant loans to those who need money for emergencies. Such emergency funds are required in most households and also offices and since there were no facilities available, these people had to borrow from friends or relatives, at the cost of their self-respect. And this is how Loanwalle.com started.

What are Microfinance loans and Which Indian companies are providing Microfinance loans

Over the most recent few years, the microfinance area has seen promisingdevelopment on the rear of the quickly developing Indian economy. The area hasbeen instrumental in offering formal credit to underserved low-pay families andminiature, little also, medium endeavors (MSMEs), consequently expan…

StartupTalkyAlan Joseph

Loanwalle - Name, Tagline, and Logo

“Our customers are middle-class salaried people and we felt an Indianised name would appeal to them more. We are the loan people and hence the name Loanwalle” Says Sachin Mittal.

Loanwalle - Startup Launch

What worked the most for Loanwalle.com is the speed at which it disburses the loan amount to the customer’s account. And Loanwalle.com doesn’t compromise on this aspect. Also, it’s continuous efforts towards technological advancement helps make the process smooth and seamless for the customer.

“We were not the first among this category in the market. Hence we had to have a well-designed strategy with which we could move ahead of our competitors.” Says Sachin Mittal.

It’s strategy since inception has been speed and a wider geographical spread across the country. Both these paid rich dividends to the venture.

Loanwalle - Competitors

The instant loan market is full and filled with players with substantial market standings. Short term loan ventures include PaySense, EarlySalary, Dhani, MoneyTap, MoneyView, FlexSalary amongst many.

KreditBee - Instant Personal Loans to New to Credit & Non Salaried

“There are two sure ways to lose a friend, one is to borrow, the other to lend.”goes the saying, which is indeed true. While we go to bank for borrowing hugesum of money, till a few years back the only option we had if we wanted toborrow a small amount for shopping, for travelling, or to pay a bi…

StartupTalkyChayanika Goswami

Loanwalle - Business Model and Revenue Model

“We were already in the business of money and finance, so for us getting the right customers was not such a challenge.” Added Sachin Mittal.

Since inception Loanwalle.com has adopted digital marketing to attract customers. And that’s how the first 100 customers were landed by the firm.

Loanwalle - Growth

Loanwalle.com is fairly new in the fintech world but the growth has been phenomenal. With technology changing at lightning speed, it has kept adopting the new and latest technology to keep increasing the volume and in the process keep the interest rate at a bare minimum lower than conventional banks also. “Therefore, we are here to bring about a disruption in the lending sector,” concluded Sachin.

FAQs

What is Loanwalle.com?

Loanwalle deals in payday loans which are quick emergency loans disbursed in 30 minutes from the time it is applied for.

Who is the Founder of Loanwalle?

Sachin Mittal is the founder of Loanwalle. He also serves as its CEO.

What are some Instant loan startups?

Some startups that provide loans are Loanwalle.com, Creditbee, MoneyTap, PaySense, EarlySalary, Dhani, MoneyView, FlexSalary amongst many more.