Akme Fintrade is a lender that turns the absence of a pay slip into a loan, not a rejection. Founded in 1996 in Udaipur by a chartered accountant who saw that nearly 60% of first-time vehicle buyers in small-town India needed credit but lacked formal income proof, the company has spent three decades building an underwriting model based on personal knowledge of the borrower rather than documented salary. That recurring approach - secured lending assessed through local relationships and practical income verification - now serves over 2,00,000 customers across rural and semi-urban India under the brand “Aasaan Loan”.
Business segments
A single lending engine with four product lines - vehicle loans, loans against property for small businesses, farm equipment finance, and a newly licensed insurance distribution arm - all built on the same local branch network and relationship-based underwriting.
1. Aasaan Vehicle Loan: the founding product that built the customer base
Every loan is secured against the vehicle itself, with an average loan-to-value of around 75%, and the company’s employees personally know each borrower’s business and reputation.
- First-time buyers are the core - the company began with two-wheeler financing in 1996 because roughly 60% of first-time buyers in its markets needed structured credit, and it has since expanded into used three-wheelers, four-wheelers, and commercial vehicles.
- Underwriting without pay slips - loan officers assess income by understanding the customer’s business, market standing, behaviour and track record, which is how the company lends to gig-economy workers and self-employed borrowers who fall outside formal banking criteria.
- Dealers are the distribution channel - branches and collection centres cover a 20-25 km radius around two-wheeler showrooms, so the company builds personal relationships with both dealers and customers, and a satisfied borrower often brings family members back for their next loan.
- The mix is shifting deliberately - vehicle finance moved from roughly 22% of the portfolio as of March 31, 2024 to 48% by September 30, 2025, as the company rebalanced toward its original strength after years of SME lending growth.
- Electric vehicles are the next frontier - the company has signed an agreement with Kilpi Technology (FINAYO) to finance two-wheeler EVs, commercial three-wheeler EVs, and solar rooftops, though it does not fund four-wheeler cars.
2. Aasaan Saral Udyog Loan and Loan Against Property: the largest book, secured by real estate
Small business owners pledge property to borrow between Rs. 2 lakhs and Rs. 30 lakhs, with the company advancing no more than 65% of the property’s value.
- Collateral replaces credit scores - the underwriting relies on the company’s expertise in assessing property and informal income rather than documented financials, which is how it serves shopkeepers, traders and commercial-vehicle operators excluded from bank lending.
- The largest slice of the loan book - at Rs. 357.34 crores as of September 2025, the SME and loan-against-property portfolio is the single biggest component of the company’s Rs. 767.46 crore AUM.
- Digital processing from any branch - loan applications are handled through a technology platform that lets any branch or point of presence process the paperwork, so the back-end is streamlined even though the front-end underwriting remains relationship-driven.
- No unsecured exposure - every loan in this segment is backed by property, and even planned future products such as loans for women entrepreneurs will remain secured only.
3. Aasaan Farm Equipment Loan: credit timed to the harvest
Tractor and farm-equipment loans come with repayment schedules that match crop cycles, serving the same rural customers the company already knows through vehicle finance.
- An extension of the existing network - the farm equipment book is sourced and collected through the same hub-and-spoke branch structure and in-house teams that handle vehicle and SME loans, so the company adds the product without building new infrastructure.
- Asset creation in underserved areas - the product is designed for rural and semi-urban borrowers who need farm machinery to grow their income but lack access to formal agricultural credit.
4. Insurance distribution: fee income from the same customer base
A newly licensed corporate agency lets the company sell life, general and health insurance to its existing 2,00,000-plus borrowers, earning commission without taking credit risk.
- Licensed in November 2025 - the IRDAI certificate is valid for three years, and the company has already signed a corporate agency agreement with Axis Max Life Insurance to cross-sell life policies.
- The branch network becomes a distribution channel - the same in-house sales team and physical presence that originate loans can now solicit insurance policies, collect premiums and handle claims servicing, turning a cost centre into a fee generator.
- Revenue expected from Q4 FY26 - commission income will diversify the company’s earnings beyond net interest income, though the business is still in its earliest stage.
Group structure and partners
A standalone NBFC with no subsidiaries, promoted by its founding chartered accountant and funded by a mix of public-sector banks, private lenders and recent warrant issues.
- Single-entity structure - the company has no subsidiaries, associates or joint ventures, and has made no downstream investments in any other Indian company.
- Diversified borrowing - the company has lender relationships with 3 public-sector banks, 3 private banks and 15 financial institutions, plus co-lending arrangements with Hinduja Finance, MAS Financial, Shriram Finance and Singularity Capital.
- Recent capital raising - the company raised Rs. 35 crores through convertible warrants in FY25 and approved a further preferential issue of up to Rs. 85.75 crores in February 2026, with warrants allotted in two tranches by June 2026.