Premal Panchal- Founder of Loantalk Advisory
Great Companies: Please tell me something about the business and how did you come up with such an idea? Premal Panchal: It was the 5th oct 2009 which was the last day on my job. I left my job as I was tired of this 9-5 work and experienced no freedom and no time for my family and my passion. I had no clue about life , As I already had EMIs and other bills to pay with no clarity of my financial future.The only thing I had was I believed in myself completely. After a week of struggle I shared with my wife what are options available with respect to creating my future , in that sharing I created a possibility where I can start my own business of DSA ( Direct Selling Associate ) of a bank to sell all Retail banking products. In January 2010 I took on this game with full responsibility and never looked back.Loan Talk advisory was created, till date we have direct disbursement of more than 3500crs of retails loans which includes Home loans , loan AGAINST property and Business. Loans We have more than 752+ customer which has been sourced directly. I always believe in direct sourcing and love to Interact with new customer.
Great Companies: What are the various services and products provided by your company? Premal Panchal: Home Loans / Loans Against Property / Business Loans.
Great Companies: Why should one choose you over others in this field? Premal Panchal: I always believe in direct sourcing and love to Interact with new customer, We expertise in structuring loans as per customer needs and till date we have 99% approval ratio as our core mantra is customer obsession and without understanding the need of customers we don’t process loans.
Great Companies: What are the struggles and challenges you face? Premal Panchal: Initially it was struggle, to manage cash flow, challenges faced was people learn and go attrition rate is very high in our business which I have face throughout in this last 10 yrs.
Great Companies: What do you think are the few main things which are most important for a successful business? Premal Panchal: Passionate / dedication / should be a good listener / and always educate other person and keep contributing and make a difference in other people world.