Tata Capital
Salaam Loans
Tata Capital is one of India’s leading non-banking financial service providers. As a brand, they believe in doing what’s right for society. They came to us with a unique challenge –
They pointed out to us that a large percentage of Indian society finds itself helplessly stuck in poverty, as they are refused access to loans. Most lacked even the documentation, or credit records, that banks so meticulously demanded. They wanted us to help put together a loan product that could become a lifeline for those below the poverty line.
We gave them Salaam Loans - a loan product with a revolutionary approval process, which used social media to validate applicants and their loan requests. Here’s how did it.
We announced our new loan product to the masses with a film which saluted the unwavering spirit of those struggling to make a living out of poverty. We christened the loan – Salaam Loan; ‘Salaam’ being the Urdu word for ‘salute’.
As applications flooded our Facebook walls, we identified the most moving stories and packaged them as content.
Salaam Loan Stories
Going through the comments under these application videos, we noticed something special. People were beginning to reach across the economic divide to help applicants out.We rallied up our fan base on social media to speak up for the basic right to take loans, and popularized the hashtag #LoanKaHaq (The Right to Loans).
What we had created was a truly democratized loan approval system. And to ensure that people always had the resources to chase their dreams, we disbursed new loans with all the money that got paid back from the first set of Salaam Loans.