Providing micro loans with instant approval and deposit within minutes allowing small business owners to scale their business
What Problem?
Business owners often need access to quick and easy financing to cover unexpected expenses or to grow their businesses. However, traditional lenders, such as banks, can be slow and difficult to work with and it takes a lot of time. This can make it difficult for business owners to get the financing they need when they need it.
What Solution?
With micro loans banks can revolutionize their credit offering using automation, enhanced data and analytics to simplify and speed up lending decisions. Getting lending “right” will also be a critical springboard as banks look to develop more financial and non-financial ecosystem services.
Why is it Unique?
Automated Decision Making: More streamlined application process and automated decision-making tools
Faster Deposits: Due to the size of the loans the deposits can be faster and within minutes
Build Up Credit History: Over a period of time as the spender builds up credit history they can avail bigger amounts as loans
Auto Approved Loans: With built up credit history loans are auto approved for businesses allowing to pay as a share of their sales
Case Study
A business loan based on your PayPal account history that you repay with a share of your PayPal sales. Your loan is based primarily on your PayPal account history, meaning no credit check is required.
Case Study
With millions of app downloads and more than 7 million customers across the world, the Tala instant personal loan app offers trusted online mobile loans in minutes.