Top 5 platforms which are helping small and medium businesses get easy finance with zero collateral this festive season

Small- and medium-sized businesses (SMBs) too want to cash in on the festival month, where India spends on clothes, food, and various consumer products. But for these SMBs, to meet the increased demand of working capital requires finance. However, given the effects of economic slowdown due to COVID-19 reaching even small businesses, finding the funds to stock up is a challenge. This is where MSME loans come in.

The MSMEs in India often face a cash flow disturbance due to various factors like non-availability of funds, post-dated cheques, late payments, and many more. The sector has immense potential for growth, however, funding is the pre-requisite for any MSME to grow smoothly and the number of restrictions imposed by the banks is making it difficult for the sector to finance their business. 

With around 63.4 million business units operating throughout the geographical expanse of the country, MSMEs contribute to approximately 6.11 percent of the manufacturing GDP and 24.63 percent of the GDP from service activities. They also employ around 120 million people and contribute to about 45 percent of the overall exports from the country. And the pandemic wreaked havoc on this segment. 

In this technologically-advanced era, here are top 5 fintech players that are disrupting this space with their advanced technology and by providing easy access to finance with zero collateral to the emerging entrepreneurs:

Indifi Technologies

Gurgaon-based leading platform, Indifi Technologies enables debt-financing for small businesses. It claims to design and deliver credit products based on the kind of business the SMB does. The platform helps to create an industry-specific credit delivery system in a cost-effective and scalable manner using innovative technology with an increasing focus on Tier II and Tier III cities as well. The company already provides zero collateral loans to small businesses in the country, but the partnership with Facebook gives it the chance to reach more borrowers in the country. Indifi uses digital processes to do know-your-customer (KYC) checks and verification of companies. The company has a non-banking financial entity (NBFC) of its own, it also partners with private banks to provide loans to SMBs.


NeoGrowth is a pioneer in lending based on the underwriting of digital payments data. The company’s proprietary technology platform offers unsecured loans to merchants who accept card or other digital payments from customers. 

NeoGrowth offers customer’s small daily auto-repayment facility from card-based sales. The company states that its mission is to have a positive social impact on the financial lives of small and medium business merchants across India, more than 50 percent of whom are creditworthy but until now have been excluded from accessing loans based on traditional underwriting methods.

Following its alliance with last year, the platform increased its point-of-sale (PoS) based loan business by 100 percent during Oct-Dec 2018 over the previous quarter. NeoGrowth has partnered with over 13,000 business merchants from the MSME industry.


The platform offers SME loans in the range of Rs 1 lakh to Rs 5 lakh at the best interest rates in the market, ZipLoan states. Its business loans for SMEs are designed to meet the needs of small business owners and the company disburses the funds within a few working days.


RupeeCircle is a new-age peer-to-peer lending platform that gives business loans to small business owners and enterprises at attractive interest rates. It provides low-interest business loans and follows a collateral-free approach.