IIFL Finance launches instant business loan on WhatsApp

 According to the firm, loans up to ten lakh rupees are available under the facility, with minimal documentation and speedy approval.

IIFL Finance has developed a rapid business loan via WhatsApp, allowing users to acquire a loan up to ten lakh rupees with minimal documentation and clearance in only five minutes.

In a statement, the retail-focused non-banking financing firm (NBFC) claimed to be the first in the country to offer quick business loans via WhatsApp.

According to the release, WhatsApp's 45 million+ users in India can acquire a loan from IIFL Finance in under 10 minutes, 24 hours a day, seven days a week.



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An AI-bot underpins this service, which matches users' inputs to loan offers and streamlines the application process through KYC, Bank Account Verification (BAV), and mandate setup, according to the company.

To obtain a loan from IIFL Finance via WhatsApp, the user must first send a "Hi" message to a designated number, then share basic information, complete KYC, check bank transfer details, register for a mandate, and receive funds in their account immediately.

India's seasonal rebound is aided by 'buy-now, pay-later' loans.

Sanjeev Srivastava, IIFL Finance's Chief Risk Officer, said his organisation is introducing the ease of chat to the difficult route of a loan application and disbursal, in collaboration with technology service provider Setu.

Setu's Co-founder and CEO, Sahil Kini, stated that his company's goal is to make business loans available to every MSME in India, which is now achievable thanks to a 100 percent digital loan process.

Conclusion

At any point in the loan lifecycle, we can operate in both established and new markets. We can handle both basic and complex large syndicate deals. You can call our helpline number +91-9477079053 to learn about the greatest prices and offers. They will assist you in every way they can. If you have any further questions, please contact me at Best Business Loan in India.

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