29 Jul Struggling To Get A Business Loan In India? Here Are Your Options
The article published in Forbes India talks about how True Balance is a viable option for businesses to sustain with loans. The story talks about the sudden coronavirus pandemic not only knocked revenues off MSMEs’ balance sheets, but also affected their hopes of survival. It mentions how Charlie Lee, the co-founder and CEO of Softbank-backed True Balance, an Indo-Korean fintech company, believes when a company helps India grow, India helps it grow too. Many of True Balance’s loan beneficiaries during the coronavirus pandemic were small business owners who took loans to ensure solvency of their businesses. Small business owners referred other small business owners and that helped them make a return because of the company’s refer-and-earn offering. Some of the notable beneficiaries of True Balance’s cash loans, level up loans, revolving loans and COVID-19 insurance included small entrepreneurs, such as a doctor in the Kollam district of Kerala who bought more than 500 policies to distribute to the poor. The doctor then referred a railways employee in Tamil Nadu who bought another 600+ policies to distribute among contract workers.