SME lender NeoGrowth Credit on Thursday announced the launch of NeoCash Insta Loan to meet immediate fund requirements of retailers and small businesses.
“The NeoCash Insta Loan for retailers is a ₹1 lakh collateral free loan product, with just KYC documents without any financial or bank documents, instant online approval, and daily repayment amount of ₹250,” it said in a statement.
Small business owners can visit the NeoGrowth website and get immediate approval for the loan by filling in only basic details, it further said, adding that exhaustive digital checks for underwriting and usage of digitally verified alternate sources of data will be used to ensure risk mitigation and governance.