We run hospitals in rural areas, where most of our payments come through government-based insurance schemes, where there happens to be a fair amount of delay in releasing these payments. However, we are expected to release vendor payments and salaries on time. Once when we were stuck in a very tight situation and also wanted some funds for expansion of the hospital, we raised ₹ 4 lakhs through EDCRED. The best thing, the entire process did not take months or unnecessary hassles to get completed. It just happened like a breeze, in just about a week’s time. I wish EDCRED a great growth story, so as it can help more SME businesses.

I had taken a gold loan from a local moneylender on a very high rate of interest. This used to be a cause of conflict between me and my wife. Then, I decided to try EDCRED. I applied for a loan of ₹ 40,000, which was provided to me at a very reasonable rate of interest, much lower than what I was previously paying. It also allowed me to repay in easy instalments. EDCRED truly enabled us to live in peace with lesser stress.

I wanted to clear debt taken from a local money lender where interest rate was more than 45% per annum (I realised I had been paying interest over last 2 years, with principal amount still intact). So, I applied for a loan of ₹ 2 lakhs on EDCRED. The loan was processed at a much lower interest rate, helping me to clear my dues with the money lender. I now have easy emi’s to pay and my principal also gets reduced every month.

I heard about EDCRED through my friend, Ketan. After few days, I applied for a loan of ₹ 20,000 on EDCRED. They offered me the loan on low rate of interest, compared to other finance companies. What I like about EDCRED is that we can pay our emis comfortably through net banking. I paid all my emis on my first loan regularly. EDCRED, thereafter, has helped me multiple times in availing small loans of around ₹ 15000 to ₹ 25000.

My wife was admitted in the hospital and was diagnosed with severe nerve damage. The treatment was expensive and I needed some funds urgently to tide over the situation. Through EDCRED, I managed to borrow ₹ 50,000 in just about a week that helped me in arranging timely treatment for my wife.

Though it was my first year in job, I still had a dream to buy an iPhone but with my salary, I couldn’t have arranged the funds for the same all at once. I checked out at EDCRED and realized that I could actually take a loan even for buying a phone. Through an easy application process, I took a loan of ₹ 65,000, which I am repaying through easy emi’s that my salary can easily support.