Some of the indicative eligibility criteria are as follows:
You will also need to satisfy certain pre-qualification criteria as agreed between PayNearby and the lender for you to be eligible for applying for this loan. You will get a notification via SMS, WhatsApp or in- app if you are eligible to apply for this loan.
This unsecured business loan can be taken either for the purchase of stock at your store, payment to your existing creditors or to meet any of the day to day working capital or operating expenses of your business.
Our aim is to create access to financial services for our retail partners. We have partnered with Unity (through API integrations) such that you can get a seamless experience in applying for loans directly through our app, in case you need any financial assistance for meeting your cash flow requirements for either your existing or PayNearby business.
The lender would process your application (along with relevant documents) within 2 days of submission. Please note that you would be required to meet the credit policy parameters set by the lender in order to avail the loan.
Nearby Technologies (“PayNearby”/ “We”/ “Our”) is a DIPP Certified fintech Company registered under The Start-up India program of the Government of India. With a vision to make financial services available to everyone, we have partnered with United Small Finance Bank Limited (“USFBL” or “Unity” or “Lender”) whereby you, as our retail partner, can become eligible to avail unsecured business loans from Unity to meet your business cash flow requirements.
Unity, the lender, is a small finance bank regulated by the Reserve Bank of India.
You may apply for this unsecured business loan using the PayNearby app. Upon your application, our role is to assist Unity in processing the same and determining whether the details provided by you meet the eligibility criteria as laid out by the lender. We clarify that our role is limited to assisting you in applying to the lender, availing the loan and at no point do we make any decision with respect to grant of loan by the lender.
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For your interest in PayNearby. Our enterprise team will contact you shortly.