As the digitalisation in the economy is increasing, the finance sector is also making more and more services available digitally. Now, IIFL Finance is offering up to Rs 10 lakh business loan to customers on WhatsApp. The company said the business loan on WhatsApp is the first-of-its-kind initiative in the MSME lending industry, where 100 per cent of the loan application-to-disbursal happens digitally.
“Over 450 million users of WhatsApp in India can avail a 24×7 end-to-end digital loan facility from IIFL Finance,” it said in a statement.
IIFL Finance’s WhatsApp loan product is supported by a powerful AI-bot that matches the users’ inputs to the loan offer, and facilitates the application. WhatsApp users can avail loan from IIFL Finance through WhatsApp by sending a “Hi” to 9019702184, complete the necessary paperless process quickly and receive funds in account.
Bharat Aggarwal, business head (unsecured lending) at IIFL Finance, said, “IIFL Finance has simplified the complex journey of a loan application and disbursal through easy paperless offerings over WhatsApp. With focus on small entrepreneurs we have innovated this instant business loan on WhatsApp product.”
IIFL Finance is currently able to service 1 lakh MSME credit queries through its WhatsApp loan channel.
“In today’s omnichannel world of texts, chats, and tweets, merchants want to interact with businesses the same way they connect with their family and friends,” according to the statement.
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