Lendingkart Technologies Private Limited, the Ahmedabad-based online small business lender, said on October 14 that it had achieved the US$1 billion loan disbursement milestone since receiving its non-banking financial company (NBFC) license in 2015. The loans have so far been disbursed to 130,000 micro, small and medium enterprises (MSME) across India. Lendingkart currently offers short-term, collateral-free working capital loans even to MSMEs with little or no credit history. The size of the disbursed loans ranges between Rs 50,000 and Rs 2 crore, and they have to be repaid within a period of 12 months to 36 months.
