The prime objective of the portal is to connect perspective Banks and borrowers in a seamless manner and also work towards creating Financial Literacy amongst the SME members. Partner banks have the opportunity to brand all loan products and achieve the priority sector credit targets through lending the eligible borrower over the portal, MUDRA products and loan for start-ups.

myloanassocham.com has key technology based process : A simplified customer experience

  • Easy, Efficient and faster filtering of proposals, which can lead to better TAT
  • In-principle Approval, Rejection and queries can be done via the portal thereby saving valuable time and in a transparent manner
  • Centralized sourcing of applications is possible through this channel and the ‘In-principle approved’ cases can be referred to relevant branches based on location of the enterprise/ business
  • Any change in status of the application is communicated to relevant parties through SMS / Email
  • Easier tracking of status
  • Escalation matrix can be built-in to trigger time based escalation of the proposals to communicate delay in processing
  • Multiple users can be created for each bank, which will enable regional teams to directly view applications online