SMEcorner.Com comes under Google Launchpad in start-up push

SMEcorner.Com, an online loan facilitator for small businesses, has been picked for Google's start-up mentorship programme 'Google Launchpad', a top company executive said today.
"SMEcorner.Com has been identified among 25 companies for the Google Launchpad programme that started its India chapter last year," company's founder and chief executive Samir Bhatia told PTI today.
Through the programme, SMEcorner will get access to several resources, including mentors, user-testing benefits, developer community programmes, workshops and forums, cloud storage and the like, he said.
"This will help us further establish our platform," he added.
The online player offers four types of products to its clients - working capital loan, unsecured business loan, loan against property, and loan for medical equipment.

Started six months ago, SMEcorner has tied up with four top private banks, including Axis Bank, HDFC Bank, ICICI Bank and Kotak Mahindra Bank, and 12 non-banking finance companies (NBFCs) so far.

The company is in talks with more banks and NBFCs for partnerships in coming months, Bhatia said.
The platform has also teamed up with leading e-Commerce players, including Flipkart, Snapdeal, paytm, and ebay, to arrange finance for its sellers.
It provides loans in the range of Rs 3 lakh to Rs 25 crore.
"We get about 500 applications a month, and enquiries from across the country. Several of these are from micro-businesses," he said.

Of these, we forward 10 per cent of applications to banks and approvals vary, he said.