24 Le Tech Private Limited

In their own words

24-HOUR LEGAL & VALUATION, for all types of loans. Introduction (Assessment of idea) 1) Pain point In India giving & taking a loan is a big business and too many requirements to fulfil. There are many MNCs in this sector (Banking and Finance) & are doing good business. These big financial organizations have a lot of funds for disbursing loans. And equally, there are lots of good customers available to avail the loans. There is a huge gap in providing the necessary professional service and link between the financer and the customer. Needs of the Customer: 1. Timely verification of all the documents. 2. Trust that the service provider shall represent him fairly and professionally. 3. Documents submitted should not be misused. 4. Proper valuation of the property (asset) is done. 5. Requirement of the funds needed with the lowest rate of interest and the type of loan that best suits the business. 6. One door service for all the documents required by the financial institution. Needs of Financial Institution. 1) Bank always wants complexity or dispute-free properties as securities for their loan. 2) Banks always want more valuable property than their loan amount. 3) Bank is always interested in quick legal & valuation reports. So, they can disburse loans fast. But the main obstacle is the time-consuming process between financial institutions and the borrowers. The processing of the documents like legal and valuation for a mortgage of properties is taking more than 10 to 30 days and thus the giving & taking loan process is extended for a long time unnecessary. This is not at all good for financial Institutions and also not for borrowers. Here our focus is only to reduce this gap. Using our app ideology, we can complete the process within a minimum time frame starting from 24 hours. It is beneficial for the financial institution as well as borrows too, for making a good business and healthy relation. This can drive a big business opportunity. 2) Ideology & business To reduce this time-consuming process, we developed a new start-up ideology that will give properties legal reports and government valuation/market valuation within 24 hr. This will save the financial institutions and the borrowers 10 to 30 days. The loan process will boost up that shall further be beneficial to both. Target customers Those who have all the property papers with them but still it’s taking much time due to the current traditional process that moves physically to advocate & valuers for submission of the papers, usually it takes 8 to 10 days more to get the report. If you want it fast, then one has to take follow-up. All can’t take follow up due to their busy schedule. These customers do have all the documents required to avail of the loan and even have a good financial standing still due to this lengthy process lose the crucial time when they need the finance at the most. Conclusion Because of this ideology If Financial Institutions & borrowers get legal reports & valuation of property within 24 hr,  it will boost up banking sectors at a high level.  This will boost the borrower’s business and,  This will boost our country India GDP too.

Written by the company on its public Startup India profile. Not verified by us.