These firms started mushrooming around 2019 but started to are powered by steroids following the lockdown that is national, claims Madhusudan Ekambaram, the CEO of app-based home loan company KreditBee. вЂњThings started going actually bad following the mortgage moratorium ended in August year that is last. Everyone was in short supply of funds and banking institutions are not lending cash. Them easy short-term loans so they approached these app-based lenders who offered. The stress that is financial the lockdown offered fertile grounds of these unethical loan providers to flourish,вЂќ Ekambaram adds.