HAPPY, a digital lending start-up has introduced lockdown advances to aid the distressed businesses with continuous cash flow. This startup is based on the concept of machine learning and after having a look into the present-day crisis, the Founder, Manish Khera decided to give away immediate loans along with insurance for COVID protection and bullet reimbursement amenities.
India at present has about seven million startups and one-fourth of the total are deeply affected by the Coronavirus pandemic. The lockdown advance facility looks after the capital requirement needed to run the business start-ups during the time period of lockdown. Easy monetary access will be provided and additionally, insurance for protection against COVID will be a supplementary bonus.
According to the founder, Manish Khera, the impact of the coronavirus pandemic has been devastating for the cash-flow of all types of businesses. The economy is shaking and the smaller start-ups need financial help. These small businesses involve the lifesaving groceries, medical stores, our milk vendors, the salons, farmers and the essential facility providers. Research was done on 300 such startups to discover their crisis. During this hour of need, HAPPY decided to launch its new facility based on the responses obtained through the survey.
It is a very wise step taken by the start-up to assist the other micro-businesses.