LoanXpress

LoanXpress: Friend, Philosopher and a Guide to India's SMEs

As India grows into its new economic might, the potential of SMEs in India to succeed in the global market is increasing phenomenally.

Despite their high enthusiasm and inherent capabilities to grow, the SMEs face a number of problems like sub-optimal scale of operation, technological obsolescence, supply chain inefficiencies, increasing domestic & global competition, working capital shortages, not getting trade receivables from large and multinational companies on time, insufficient skilled manpower, change in manufacturing strategies and turbulent & uncertain market scenario.

To survive with every such issue and more, to be able to compete with the large enterprises, and to bring about the necessary change and grow their businesses to the desired level, they require capital, realized Pratapsingh Nathani who spent over two decades in the Financial Services universe.

Envisaging the need to assist the ailing SME sector to raise funds and thus succouring to empower themselves to grow rapidly, Pratapsingh Nathaniconceptualized LoanXpress, a digital lending platform. LoanXpress launched in 2015 and within a short span of time, it has facilitated loans worth 250 crores to SMEs as well as MSMEs.

Owned and operated by Vermillion Finalytics Private Limited, LoanXpress has presence across business areas including Working Capital Facilities, Secured & Unsecured Term Loans, Leasing Solutions and Receivable Finance amongst others.

The company is also involved in providing add-on services like preparing CMA Data, Teaser, Project Report, Information Memorandum and other such documentation that is required by the Banks & NBFCs at the time of debt financing.

In addition to its office in Bandra, Mumbai, the firm has a presence through its offices in Pune and Ahmedabad. The offices mainly cater to the needs of the large SME base in the respective regions.

They will soon be inaugurating Loanpoints in Baroda, Surat, Rajkot, Nasik, Aurangabad, Nagpur, Bangalore, Chennai, Delhi, Indore, Bhopal, Jaipur & Bhilwara. Loanpoints will serve as representative offices to interact with the local SMEs.

Backed by superior technology and rich experience they hope to reach the pinnacle of digitization by completely servicing clients digitally, without any need for meetings or physical documentation. Pratap Singh Nathanih as worked hard at infusing talent into the company and building capabilities.

The firm presently employs nineteen people, a team comprising of Analysts, Chartered Accountants and Relationship Managers on a national basis.

Commenting on this, Pratapsingh Nathani, Founder of LoanXpress asserted, "we are supported by industry veterans as Mentors & Advisors who truly believe that LoanXpress is set to revolutionize the way debt is raised by India's SME segment.

The team has been extremely lucky to have their leadership and guidance. And since most of the team has been together since the inception of the platform, and has seen the ups and downs of the life of a startup, giving each other the required strength and courage to continue on our path, we have been bonded into a big family – we proudly call ourselves as 'The LX family'."

This year the firm has attracted a set of investors from the banking industry whose contribution has led to an exponential growth of the company.

Pratapsingh Nathani has truly been a trailblazer and nurtures the passion to scale new heights of success through LoanXpress. He has playeda crucial role in shaping and leading the company. Prior to LoanXpress, Pratap Singh Nathani worked at different marquee establishments across geographies, vested with vast responsibilities.

He mapped the financial market's landscape beginning from Apple Finance where he sold retail bonds, NCDs & FDs, to individuals raising debt for government institutions via Non-SLR bonds and selling them to Provident Funds at Centrum & Darashaw.

He was also responsible for starting up a retail IPO distribution franchise during his career. Later he was given the mandate to set up the Loan Syndication franchise for JM Morgan Stanley.

Post the JM-MS split, he was involved in marquee transactions in Leveraged Finance for an Auto ancillary & a large telecom tower company M&A Finance at JM Financial.

At ING Bank, he was involved in setting up & heading the Debt Capital Markets desk in India. Later in 2011, Nathaniset up the Loan Syndication desk for the bank in India & managed Underwriting & Syndication of Debt products for the bank's marquee clients.

Under the aegis of Pratapsingh Nathani, LoanXpress is not only soaring heights but is also being recognized and receiving many prestigious awards. The digital lending platform was selected as one of the Top 15 FinTechs helping with raising loans.

The firm also received a special appreciation from Mrs. Arundhati Bhattacharya, CMD, State Bank of India for their distinguished work in the SME sector.

And to add to the glory, LoanXpress was recently featured in ET's Leaders of Tomorrow, the program renowned to connect and inspire SMEs across India to aspire higher.

LoanXpress intends to bring about a systematic shift in the way SMEs borrow money from the lenders. The traditional system where the SME is required to chase the lenders is the concern that they are addressing.

This will not only help LoanXpress to cement its position in the market but also give them a unique identity. LoanXpress long-term aspiration is to become India's most trusted advisors to the Indian Corporates in finance matters and act as a catalyst in the growth of the sector and the country.