Gurugram-based LoanSimple empowers micro businesses by offering them credit, payments and insurance. Micro businesses form the backbone of Indian economy and lack formal access to credit and other financial products. Their deep understanding of these businesses driven by a strong reliance on data has helped them to develop products tailored for them. Some of their features include minimal documentation, no collateral, and the ability to draw cash instantly. LoanSimple aims to offer financial inclusion to micro businesses by providing credit, payment & insurance solutions that help them to grow their business and take care of all their financial needs. They offer business loans, credit line, MSMSE and SME loans, unsecured business loans, and working capital loans. The ticket size of the loan is up to 5 lacs. LoanSimple combines new payment data-sets, traditional scoring, dynamic repayment and automated daily repayment to identify and serve these credit-worthy merchants. Merchants are not required to pay fixed monthly instalments, but instead make automatic daily repayments from their bank account.