Saturday, April 13

Tag: loan

Sumitomo Mitsui Launches App for Personal Loan to US Residents
BUSINESS

Sumitomo Mitsui Launches App for Personal Loan to US Residents

TOKYO, July 13, 2023 -- Sumitomo Mitsui Financial Group announced that it has begun providing personal loans to U.S. residents through Jenius Bank, a division of Manufacturers Bank. California based state-chartered bank is a wholly-owned subsidiary of SMBC Group. Jenius Bank creates an opportunity for SMBC Group to deepen and expand its U.S. business, providing scale and growth potential in the U.S. consumer banking market. Starting with a 270-strong workforce, the digital banking service targets some tens of billions of yen (hundreds of millions of dollars) in net profit within 10 years, said Daisuke Tanaka, an executive at the bank's corporate development group. By taking a different approach to conventional banking services, Jenius Bank will operate as a digital bank w...
Fast Loan Options For Your Small Business
BUSINESS

Fast Loan Options For Your Small Business

Cash flow problems are a common and dangerous threat for many small business owners. But even if they’re able to maintain a reliable cash flow, it is still not always sufficient enough to put all their plans into action. In most cases, they would need some form of financing to cover unexpected expenses or help expand their business.  Banks are the traditional provider of business loans. But while they’re a good option to keep loan costs down, it can take months to get your money, plus they usually won’t lend to small businesses.  If your small business is in a financial shortfall and needs financing as soon as possible, here are some fast loan options that are worth considering. Business Cash Advance Loans Business cash advance loans are an advance on your busine...
Facebook offers Loans to Small businesses in India
News

Facebook offers Loans to Small businesses in India

New Delhi, 20 Aug 2021: Facebook India announced an initiative known as the ''Small Business Loans Initiative'' in partnership with Indifi to help small and medium businesses (SMBs) get quick access to credit through independent lending partners. India is the first country for Facebook where this program is getting rolled out. The program is open to businesses registered across 200 towns and cities of India. Through Facebook's partnership with Indifi, small businesses that advertise with Facebook can get loans between Rs 5 lakh ($6,720) to 50 lakh ($67,200) at a predefined interest rate of 17-20 percent per annum, and applicants will not be charged a processing fee. Indifi will also disburse the loan amount within five working days of the borrower completing all documentation for...
Commercial Versus Residential Mortgages: What Are the Differences?
Market

Commercial Versus Residential Mortgages: What Are the Differences?

Owning your own business is a long-standing dream for many, but once you’ve accomplished it, the hard work doesn’t stop. Chances are you’ll want to see your venture grow, and the bigger it becomes, the more there is for you to consider. It may get to a point where you’re looking at purchasing rather than renting suitable business premises. It’s a big step to take, and one you should educate yourself on before going ahead. So what do you need to know? One of the biggest mistakes business owners make pre-purchase is assuming that commercial property mortgages function in much the same way as their residential counterparts. Unfortunately, this is not the case, and it’s something you ought to be aware of. Here are just a few of the ways the two differ. Lending criteria  When y...
American Express to Acquire Lending firm Kabbage
ACQUISITION

American Express to Acquire Lending firm Kabbage

NEW YORK, 18th Aug 2020-- American Express ( NYSE: AXP ) announced that it has entered into an agreement to acquire Kabbage, a leading financial technology company providing cash flow management solutions to small businesses in the U.S. The transaction represents an important step toward the American Express goal of being an essential partner to small businesses through a broad range of payment, cash flow, and financial management tools. Under the terms of the agreement, American Express will acquire Kabbage’s team and its full suite of financial technology products, data platform and IP built for small businesses. Kabbage’s products include access to flexible lines of credit, online bill payment, cash flow visualization tools, e-gift certificates, and the ability to centralize ...
Aye Finance raises $17 million from Invest in Vision
FUNDING

Aye Finance raises $17 million from Invest in Vision

Fintech startup Aye Finance raises $17 million (Rs 125 crore) in debt from Germany-based Invest in Vision, a top official of the company said. The company will use the fund to enhance lending for the micro-enterprise sector, Aye Finance managing director Sanjay Sharma said. "Since our inception in 2014, we have been making affordable loans a reality for the historically credit-starved micro-enterprises of India. We are grateful for the support we receive from Invest in Vision and other debt partners in helping us realize our mission of creating an inclusive India," Sharma said. Aye Finance is a finance company that provides business loans to micro and small businesses has raised a total of $244.4 Million in funding over 22 rounds. быстрый займ на картузайм на карту мгновенно с п...
Lendingkart raises $40 Million in equity funding
FUNDING

Lendingkart raises $40 Million in equity funding

Lendingkart Technologies raises $40 million (about Rs 320 crore) in an equity funding round led by existing investors including Fullerton Financial Holdings Pte Ltd (FFH), Bertelsmann India Investments, Sistema Asia Fund and IndiaQuotient. The series D round comprised two tranches INR 233 crore as part of D1, and INR 86.24 crores in D2 fund-raise, according to a company statement. Lendingkart has raised over Rs 1,050 crore of equity capital from investors till date. This funding will be deployed to expand the company's lending base and further reach out to small and underserved micro and small enterprises, and to further strengthen the company's technological and analytics capabilities, the company said. "The fresh round of equity funding reaffirms the support of our investors...
Sindhuja raises $8.7m from Nordic fund, Carpediem Capital
FUNDING

Sindhuja raises $8.7m from Nordic fund, Carpediem Capital

Sindhuja Microcredit, which provides credit to rural women entrepreneurs, has raised USD 8.7 million series B funding from the Norway-based Nordic Microfinance Initiative and Carpediem Capital. The microlender had also raised USD 4 million from Carpediem Capital in March 2019 in the series A round, the company said in a statement on Monday. The two-year-old Sindhuja has provided loans to over 84,000 self-employed rural women across five Indian northern states. It has a loan-book of over Rs 170 crore as of March. "This funding will be used to scale up operations and provide the much-needed credit to our customers, who are rural women entrepreneurs, whose lives have been badly hit due to the COVID-19 pandemic," the company said. Launched 11 years ago, the NMI is a reputed intern...
Stash Raises $80 Million funding from LendingTree
FUNDING

Stash Raises $80 Million funding from LendingTree

CHARLOTTE, N.C., May 4th, 2020-- LendingTree, a leading online financial services marketplace has made a strategic investment in one of the fastest-growing banking and investing services in the US known as Stash. The investment from LendingTree is part of Stash's Series F funding, which includes funds and accounts advised by T. Rowe Price Associates, Inc. as well as Breyer Capital, Goodwater Capital, Greenspring Associates, Union Square Ventures, and other investors. Since its launch in 2015, Stash has helped over 4.5 million Americans take control of their finances, avoid fees, and achieve their financial goals. Stash offers all-in-one subscriptions that prioritize affordability, accessibility, education and simplicity, and include personal investment accounts, Traditional and Roth...
Mera Cashier Raises $150k from Bollywood Singer & Others
FUNDING

Mera Cashier Raises $150k from Bollywood Singer & Others

Sukhbir Singh, eminent Bollywood singer, India Accelerator, Boudhik Ventures, Shankar Nath (ex-CMO, PayTM) and Shaurya Garg (Founder, Fundoo Works) have invested $ 150K in FinTech startup Mera Cashier.  Sukhbir says "Mera Cashier is giving the user the gift of time which is extremely scarce in these days. He adds using "Mera Cashier" is a good decision for any businessmen." Launched in July 2019, Mera Cashier is an app for small and micro businessmen to record and manage credit transactions. The app boasts of some unique features like managing both credits taken from suppliers and credit given in the market, using QR code to record transactions thereby improving the efficiency of the business and one app that the user and his customers can download and view the transactions involved...
SMEcorner raises USD 30 mln in Series B funding
FUNDING

SMEcorner raises USD 30 mln in Series B funding

Fintech firm SMEcorner has raised USD 30 million (around Rs 210 crore) through a combination of equity and debt in series B funding. The funding round was led by Paragon Partners, which invested USD 10.5 million, and the balance came from existing investors including Quona Capital, Accion Venture Lab, Bharat Shah and few other high networth individuals, according to a company release. "The additional capital will enable us to reach over 20,000 new customers and grow our distribution in the coming year," SMEcorner's founder and CEO, Samir Bhatia, said. Bhatia has also made an undisclosed investment in the current round of funding. The funds raised would go towards rapid business scale-up, lending partnerships and market expansion in the coming financial year. The SME-focusse...
Fintech Firm Svasti Raises USD 10 mn
FUNDING

Fintech Firm Svasti Raises USD 10 mn

11th Nov, 2019: Svasti Microfinance has raised a funding of USD 10 million (about Rs 71 crore) for expansion of branch network and increasing MSME financing. Till date, Svasti has raised a total capital of USD 17 million. The capital was raised from Adar Poonawalla, Nordic Microfinance Initiative (NMI) and Rajiv Dadlani Group, the Mumbai-based company said in a release. "Apart from expanding its branch network, Svasti will use the capital raised to expand and increase its MSME loan portfolio and provide other financial services, such as consumer finance and insurance, in partnership with other leading institutions," the release said. A portion of the funds raised in the current round is being used to provide full exits to Michael and Susan Dell Foundation and Bamboo Financial I...