The tech-enabled NBFC V. N. Finance launched the Business App ‘VNFinance’. The move is to help the customers to get business loans by automating the process. The application is based on Android and it is available on Google PlayStore.
With the launch, the process for giving loans becomes substantially online and digital. The NBFC provides financial services to MSMEs, shopkeepers, small businessmen, women and self-employed professionals. Customers can take the decision quickly and they can apply from anywhere. The people who have no have no security or no existing assets, can directly approach V. N. Finance and give their creditworthiness and repayment capacity for getting unsecured loans. They can also use the intermediaries for the same.
The Managing Director, V. N. Finance, Mohit Kakkad expressed that V. N. Finance’s aim is to provide comfort, respect and enabling customers to make quick decisions and provide loans for those who need to realise their dreams. The Business App will help the customers to take fast decisions in loan appraisal and disbursal processes. The app will provide the best possible experience for the customers. He also added that the NBFC was very speedy in credit assessment and disbursal. In most cases, it will take less than 24 hours for final decision and disbursement
VN Finance has grown notably in the last 1.5 years and the V. N. Finance is planning to expand its network to get closer to its customers more widely. The monthly business has doubled within a month of opening branch in October 2020. The plan is to expand in Mumbai MMR region and Maharashtra state and thereby moving to across India. The NBFC aims to open 8-10 branches in next 12-18 months within Mumbai & Maharashtra.
Mohit added that to provide comfort to customers in India the physical presence is also needed. The approach is to provide 24×7 service and give loans within a day. The purpose behind all the efforts is to complete the process with the least number of documents and thereby providing a hassle-free environment using technology. The NBFC provides gold loans, loan against property and business loans.
