MSME Loan in 24 Hours: Is it Possible?

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Digital transformation is drastically altering the dynamics of the financial services sector in India. Financial companies are increasingly leveraging the power of digital models to expedite numerous processes and enhance the experience for consumers across the country. India has witnessed a digital turning point with the advent of smartphones and the availability of affordable data made possible by providers like Reliance Jio. Moreover, the establishment of industry bodies like the National Payments Corporation of India (NPCI) has facilitated the construction of a robust payment and settlement infrastructure in the country.

The digital transformation journey has further led to the replacement of several manual banking processes with digital alternatives. Video KYC (Know Your Customer) and e-signatures have enabled customers to complete several elaborate verification procedures through the digital medium. At the ground level, this has accelerated loan acquisition and enabled small business owners to complete the entire loan process online. This article looks at how you can acquire an MSME loan in 24 hours. But before that, let’s take a look at some of the advantages of getting a quick loan for small business owners.

The Benefits of Quick Disbursement

Thomas Edison once said: “Time is the only capital that any human being has and the only thing he can’t afford to lose”. It is important for small business owners to execute business plans at the right time to see the best results.

A quick MSME loan disbursement is the perfect catalyst for small business entrepreneurs to realize their business dreams and give the required direction to business plans. There are several benefits of acquiring the required funds at the right time.

  • It ensures the smooth running of daily operations as all the daily expenses like rent, electricity, employee salaries, raw materials can be taken care of through a working capital loan.
  • Quick disbursements ensure that the inventory is ready to meet a rise in consumer demand. This is especially beneficial for seasonal businesses.
  • The influx of capital assists in the timely installation of the required machinery to expand business operations.

Acquiring an MSME Loan

Acquiring an MSME loan from a traditional bank can present small business owners with several challenges related to eligibility, documentation, and collateral. Non-banking Financial Companies (NBFCs), on the other hand, have evolved over the years to bring a variety of funding options for MSMEs.

Some leading NBFCs like Kinara Capital have constructed a robust digital infrastructure that small business owners can leverage to acquire collateral-free MSME loans within 24 hours.

Furthermore, NBFCs have a relatively flexible eligibility process as compared to traditional banks, which rely heavily on credit scores. NBFCs also put forward the option of a digital and assisted MSME loan application process wherein small business owners are guided throughout the entire procedure. Business owners can also get the support they need in their regional language to eliminate any sort of communication gap.

Approaching a Technically Advanced NBFC

Opting for a technologically superior NBFC is one of the best ways to acquire an MSME loan within 24 hours. If you’re a small business owner searching for immediate funding to expand or sustain business operations, you can rely on Kinara Capital. They have a flexible and digital loan application process that has made 24-hour disbursements a reality. As one of the foremost last-mile NBFCs in the country, Kinara Capital’s exceptional doorstep customer service and multi-lingual support can help you avail of a loan to meet a variety of business expenses.

The reducing rate of interest allows business owners to pay interest only on the outstanding amount. This offers a significant economic benefit for business owners, as timely repayment results in a reduction in the outstanding amount as well as the total interest. Moreover, Kinara Capital’s loan process looks beyond the credit score and considers other factors like the nature of business, monthly turnover, location, and business vintage. As soon as your application is reviewed and approved, Kinara Capital disburses the money in your account.

So, connect with a reputed NBFC today and acquire a business loan in 24 hours!

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