Faircent.com to facilitate loans in COVID-19 low impact Green Zones

NBFC-P2P lender, Faircent.com, has announced the launch of a new loan offering to help small businesses and individuals’ access credit in districts across India which have suffered low to nil impact of COVID-19 outbreak.

The loan targets retailers, small business owners and salaried professionals facing short-term financial constraints caused by the lockdown in areas identified as the green zones – where there have been not more than 10 COVID-19 positive cases. These borrowers will be easily visible to the lenders on their dashboard through a green color-coded tagging #COVID-19 Low Impact Zone.

Rajat Gandhi, Founder and CEO, Faircent.com said in a statement, “Our team is continuously innovating to launch new products and features to make it easier for borrowers to access credit in these tough times. The fight against the Coronavirus pandemic has to be fought collectively and as India’s largest P2P lending platform we are committed to help every Indian meet their cash-flow requirements even during the lockdown”

Last week, the company announced the launch of a new product - Anti-Lockdown loans, which offer loans to credit-worthy borrowers with a three-month EMI free period followed by easy repayment options at affordable rates. Borrowers can choose to repay either as a lumpsum at the end of three months or through easy EMI options.

Vinay Mathews, Founder and COO, Faircent.com said in a statement, “There are many districts and zones in India that are unaffected by COVID-19 or have witnessed very few cases. These clusters are expected to return to normalcy much faster. Keeping this in mind, we have adopted a targeted approached towards onboarding borrowers residing in these zones on a priority basis. Considering our lenders are keen on funding these loan requirements, we will also ensure quick disbursal of funds.”