National, 16th October 2024– BharatLoan, the leading full-service digital lender in India is proud to announce its strategic expansion to over 30 new cities and 1,500 additional pincodes, spanning across 5-6 states. This significant milestone comes as part of Bharatloan’s ongoing commitment to providing easy access to financial services and empowering individuals and businesses across the country.
With its rapid expansion in 30+ cities, the Non Banking Finance Company( NBFC), Bharatloan is now positioned to disburse 20-30% more loans during the upcoming festive season, ensuring customers have the financial backing they need to celebrate without financial strain.
The demand for festive season loans in India has seen a significant surge in recent years, driven by increased consumer spending during festivals like Diwali and Dussehra. According to a report by CRIF High Mark, festive loan disbursements in 2023 grew by 25%, reflecting a rising trend in short-term loans for shopping, home renovations, and celebrations. Additionally, the RBI’s 2023 report on consumer lending highlights that the personal loan segment, particularly during festive periods, continues to witness robust growth, with a 15% year-on-year increase, as consumers seek easy financing options to enhance their festive experiences.
Amit Bansal, Founder of Bharatloan, commented on the development: “Our goal is to reach every corner of the country, offering quick, reliable financial solutions. This expansion is a testament to our commitment to financial inclusion, and we’re excited to serve more customers during this festive period, making it easier for them to meet their financial needs.”
Bharatloan’s continuous growth aligns with the company’s mission to bridge the financial gap, particularly for those in underserved regions. By leveraging technology and an efficient loan platform, Bharatloan has been able to provide quick disbursement and customer-friendly loan processes, making borrowing more convenient for all.
The increased reach, along with Bharatloan’s innovative loan services, is set to bring more festive cheer to thousands of families, enabling them to achieve their financial aspirations smoothly.
About BharatLoan
Bhara Loan is a financial innovator making waves in the loan industry. Since their launch in 2023, they’ve been dedicated to simplifying access to financial resources, particularly for salaried professionals in major cities. They leverage modern technology to provide a completely digital loan experience, smooth and hassle-free. Financial inclusion is a core value for Bharat Loan. They believe everyone deserves a fair chance to access the resources they need. Transparency and security are paramount, and they’re committed to responsible practices that contribute to a greener future. By offering faster and more accessible loan options, BharatLoan empowers individuals to achieve their goals with confidence.For more information, visit: BharatLoan.com