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The bulk of India’s nonbank financial firms are specialized lenders such as Cholamandalam Investment & Finance Co., which has $5 billion in assets in the South Indian city of Chennai and focuses on loans to truck and van drivers who deliver milk and vegetables. Like many of India’s nonbank financiers, it raises money by borrowing from Indian banks and in turn lends it to companies and individuals the banks deem too small and risky. When Satyendra Prasad Yadav, who runs a transport business in northern India, wanted to buy a truck to carry onions across the country, he first tried the branch manager at his local bank, who told him they don’t finance vehicles but offered a personal loan. The manager asked Mr. Yadav for documents on his property holdings and told him he would have to make multiple visits to the bank, a process that could take up to a month. Mr. Yadav went to Cholamandalam instead, and within two weeks, he had $33,000 worth of rupees.

http://www.nasdaq.com/article/in-india-nonbank-lending-jumps-and-rivals-pounce–wsj-20161227-00019

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By Rebel A. As the economy enters the final stages of the cyclical recovery from the recession, it Lappears unlikely that all the barriers to bank lending to small business will disappear. The Babbage mobile app lets you take loans, pay your bill and view your transaction history from your phone. If we can help, we will do so quickly. Troubled and failed banks reached levels not seen since the Great Depression during the financial crisis of 2008, with the failures consisting mostly of community banks. In other words, the report supports the position that higher capital standards would improve the availability of credit to U.S. firms, especially to small firms, and it refutes banking industry claims that higher capital standards would reduce business • The research showed a significant negative correlation between bank profitability and business lending. Karen Mills, former head of the US Small Business Administration, explains the reasons and why the situation is not likely to improve any time soon.