3 Ways NBFCs are Helping MSMEs Scale up their Businesses

MSME lending scenario in India is transforming drastically, especially since the COVID-19 pandemic. The traditional banking sector has shrunk over the last 5 years, losing their market share to NBFCs and other players. NBFCs have emerged to MSME business owners as reliable sources, giving access to formal credit in an easy and non-complicated way. Most NBFCs do not have stringent regulations or need a lot of documentation to process a fast business loan. The emergence of new fintech leaders such as Kinara Capital, NBFCs are leveraging tech solutions to disrupt MSME lending in India. Therefore, it is suffice to say, the NFBCs are challenging and drastically changing the Indian 'lending ecosystem' to drive financial inclusion and bridge the credit gap for millions of MSME businesses in India.

NBFCs like Kinara Capital understand the dilemma of MSMEs and its mission to create a financial inclusion is impacting growth and expansion activities of many small businesses functioning out of Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Maharashtra, Gujarat and Pondicherry. Kinara is a Systemically Important RBI-registered company that provides collateral-free business loans within 24 hours.

Read more about Kinara Capital now - https://www.kinaracapital.com/

Here are the numerous ways NBFC can help MSMEs scale up their business:

Bridging the Financial Gap

The loan application from NBFCs is usually hassle-free, quick and flexible. With cheaper and floating interests and simple KYC and documentation processes, MSMEs get access to collateral-free business loans as fast as 24 hours. Kinara Capital offers business loans, working capital loans and machinery loans starting from ₹1 lakh to ₹30 lakhs with a digital-first process in the customers' preferred language. Check your business loan eligibility in just 1 minute by downloading the myKinara app from the Google Play Store.

Expand Businesses to New Pin Codes and Markets

Business expansion is next progress step in the lifecycle of any MSME's growth. Some of these activities include opening a new store, shifting to a new location, procuring raw material, or adding more products to the list of product or service offerings. But access to fund is the biggest challenge that most small business owners face and then banking and NBFCs play a very significant role in helping MSMEs avail unsecured business loans with ease.

Asset Purchase to Improve Production Capacity

With technology changing and evolving every day, machineries need to be upgraded on a regular basis to meet the dynamic quality and product requirements for any business to stay afloat. Purchase of new machinery or upgrade of old ones can be done easily with a collateral-free machinery loan from any NBFC. Avail fast machinery loan within 24 hours on the myKinara loan app now.

Download the myKinara app now - https://app.kinaracapital.com/blog

Kinara Capital also offers a HerVikas program specially for women entrepreneurs in India, that provides automated discounts without any additional documents. NBFCs like Kinara Capital empower small business owners in India and are helping in bridging the credit gap by offering fast business loans. Here are some USPs of availing a collateral-free business loan from Kinara:

- Collateral-free business loans from ₹1 lakh-₹30 lakhs
- 24-hours loan disbursement directly in your bank account
- Minimum documentation and secure portal for easy uploads
- Flexible business loan offerings for working capital and asset purchase loans
- Doorstep customer service and call-center support available in vernacular
- Easy EMI payment with NACH or 400+ digital wallet payment options available (e.g. GooglePay, PhonePe). Cash EMI payment accepted at local Airtel and Kinara branches
- Automatic discount for MSME women business owners with HerVikas program. No separate application required.

Get a collateral-free business loan now - https://www.kinaracapital.com/regional-loan/business-loans/

About Kinara Capital

Kinara Capital is a fast-growing fintech propelling financial inclusion of small business owners in India. Leading with a women-majority management team, the company is globally recognized for disrupting MSME financing. Qualified as a Systemically Important NBFC by the Reserve Bank of India, Kinara Capital is a debt-listed entity on the Bombay Stock Exchange (BSE). Headquartered in Bengaluru, Kinara Capital has 125 branches across 90+ cities in India.

Visit www.kinaracapital.com for more information and follow us on Twitter @KinaraCapital

50, Second Floor, 100 Feet Road, HAL II Stage, Indiranagar, Bengaluru, Karnataka 560038
Reach us at: marketing@kinaracapital.com
Call us at: 1800 103 2683

This release was published on openPR.