Indifi empowers restaurant owners with collateral free loans

Indifi has empowered restaurant owners with collateral free loans this festive season. The company informed that they have disbursed over 37,000 plus loans of which restaurants constitute approximately 25 per cent.

The fintech platform caters to both dine-in and delivery restaurants and is now growing into cloud kitchens as well. The average loan size for this segment is rupees four to five lakh and about 15 per cent of the loan disbursals are to tier three and four cities. Even with the restaurant business being a risky industry, 40 per cent of the loans given to restaurants have been with vintage less than two years. This has largely been driven through Indifi’s ecosystem-based approach where the partnerships with leading tech aggregators like Swiggy and Zomato has supported the efforts to enable financing to creditworthy restaurants.

“We at Indifi have always strived to financially empower the underserved small and medium businesses who face difficulty in getting access to credit. The ongoing festive and cricket season is a great opportunity for these new restaurant business owners to capitalise on the long-awaited drought in the sector and we are glad that Indifi is helping in driving that change in their lives,” said Alok Mittal, CEO and Co-Founder, Indifi.

He continues, “In the coming future, we are looking to expand reach within existing partnerships, and build relations with new aggregators in this space. Restaurant business is beginning to pick up again, our focus will be to cater to new players in the sector.”

A major chunk of the loans disbursed by Indifi were used by the restaurant owners for renovation of their outlet(s) or for opening new outlets. The amount was also used for clearing off debts, making internal payments and for marketing the brand in the festive season.