PRLog - June 30, 2014 - GURGAON, India -- India has over 35 milion Micro, Small and Medium businesses. As per a government survey , as many as 90 % of these are either self funded or funded by informal sources. Very few grow to larger sizes due to lack of capital despite there being a plethora of schemes and products.Banks and other financial institutions focus on the slighlty larger or upper SMEs who are more easily accessed & managed. Thus, a crying need exists for a facility to enable the micro & small businesses be a part of financial inclusion.
Small Businesses need funds to grow
A recent study by IFC Washington further corroborated the huge demand -supply gap with respect to finance for micro and small businesses. As per the report, over INR 3.9 trillion ( USD 65 billion ) is the viable debt demand that can be addressed by financial institutions. This can happen by finding efficient ways to reach these borrowers.
It is this gap that www.smefinancemart.com aims to bridge. SMEFinancemart.com is an innovative web based platform to use the power of internet reach to reach target customers apart from using offline measures to build awareness and credibility. India now has almost 200 million internet users. Additionally there are 800 million mobile phone connections . Almost 90 million smartphone users. More than half the net access is thru mobile phones. It is this fast deepening connectivity which SMEFinancemart aims use to reach these small borrowers .
But that is just the first step. In order to quickly separate the wheat from chaff , they put the borrower thru some verifications and a specially designed credit scoring tool. Pulling in additional information and reference checks , they match the most appropriate product and lender with the customer needs.
SMEFinancemart hence ensures that the small borrower does not have to search everywhere and yet not find the answer. SMEFinancemart.com cuts the time , energy and money spent by both borrowers and lenders in finding each other.
A host of good advise and tips are also provided. The company has been set up by former banker, Asim Hussain, who has spent considerable time in the indian market in the SME domain.
The company is looking for investors for adding resources and technology.
SMEFinancemart can be contacted at ahussain@