Business Model

Business Activities

Fair Vinimay Services Private Limited operating under the trade name IndiaMoneyMart (IMM) is one of the existing Peer to Peer (P2P) Lending platforms in India. IMM platform connects lenders (Investors) looking for higher returns with borrowers looking for loans at competitive rates. These loans are unsecured short term personal or business loans catering to the requirements of the borrowers for various needs including home improvement, marriage, travel, medical emergencies, debt consolidation, family event, etc. IMM is a tech-enabled alternative credit platform that provides:

• Lenders/ Investors an opportunity to invest directly in various types of consumer/ personal/ small business loans.
• An alternative asset class giving much higher returns compared to the conventional asset classes.
• A tool which is essentially a match-maker utilizing and validating multiple data-points to establish the credibility of both parties.

Lenders/ Investors on our platform get access to profiled creditworthy borrowers with complete details and lend funds to borrowers of their choice, which provides an attractive stable return on the funds invested. IMM follows a rigorous credit underwriting process to determine the intention and ability of a loan seeker to repay debt and enable lenders or investors to deploy their funds profitably.

The business activities comprises of the following processes

A. Process of Participant Authentication

• The participants on IMM platform are borrowers and lenders. The process of authentication for both the borrowers and lenders are completely automated and starts with a simple registration process.
• Borrower’s authentication process
  • The process of borrower authentication is done at the first step itself through authentication of mobile and email data.
  • The registration of borrower at IMM comprises of various steps starting from submitting basic Know Your Customer (KYC) details, Personal/ Professional details, Financial Information and finally uploading details required for credit assessment.
  • The KYC details uploaded by the borrowers are then verified by IMM team.
  • Credit assessment of the borrower is done based on information submitted and credit information reports obtained with consent of borrowers and other documents uploaded by the borrowers.
  • -Finally, the last step is to do a physical verification of the borrower, if considered necessary.
• Lender’s authentication process
  The registration of lender also starts with submission of basic KYC details to uploading of various data related to financial information.
  
  The process of lender authentication is done at the first step itself through authentication of mobile and email data.

B. The procedure of documentation of loan agreements (Agreement Generation and Loan Disbursal Process)

• Based on the credit assessment, if the borrower registered on the platform is found creditworthy, his/ her profile is made live on the IMM platform and the Lenders registered with IMM can view the credit profile of the borrowers along with IMM Score.
• Lenders can select borrowers and express their intention to lend on the platform based on which intimation is sent to the borrower and the borrower has the option to accept or reject.
• Loan agreements are automatically generated online once the loan requirements are fulfilled on matching of borrowers and lenders based on risk appetite and return expectations. Documentation and execution of Loan agreements are completed to complete the loan transaction.
• Disbursement of loan is done once documentation formalities are completed.
• Automated collection of EMIS and transfer to Lenders.
• All payments from Lenders to Borrowers and vice versa through Escrow Accounts.
• Providing Legal support services to Lenders for collection, if required on best efforts basis.
• Providing updates to Lenders on the portfolio performance for loans disbursed.

The business activities of the company does not include the following

• The company does not provide any secured loans
• The company does not carry any lending from its own book.
• It does not provide any credit guarantee for the loans on its platform nor it provides any return assurance.

Business Model

The Business Model of IMM is enabling transactions between Lenders and Borrowers through P2P lending on a tech enabled platform and earning Registration fees, Transaction fees and Service charges from both borrowers and Lenders