Despite the post-pandemic world being accommodative towards micro, small, and medium-sized businesses, most enterprises are still heavily dependent on actionable financial capital. However, accessing has become easier in the past few years with NBFCs like Kinara Capital changing the financial landscape for businesses.
Starting from the targeted inclusion of technology in the transactional space to the ballooning of FinTech institutions, monetary space has been restructured on the war-front, with MSMEs in mind. Not just that, even governments across the world have identified the targeted demands of the businesses, which have been trying to get back on their feet, post covid19.
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Evolution of Digital Lending Institutions
MSMEs of the past were dependent on traditional lenders for credit. Despite lending being a straightforward process, dated institutions found it difficult to release the funds quickly. But with the unprecedented intensification of the FinTech space, it has now become possible for MSMEs to land similar products and services, in a very short time frame.
The disruptive potential pertaining to the digital lending platforms and FinTech institutes are relevant for MSMEs seeking MSME loans, credit lines to propel financial inclusion, working capital, and other comparable solutions.
Also, MSMEs contribute rather significantly to the social-economic fabric and therefore require financial support to be released at an expedited rate. With digital lending platforms like Kinara Capital, promptness of loan disbursals is hardly an issue, courtesy of minimal paperwork, quick verification, and swift releases.
FinTech institutions and digital lending platforms can therefore make life easier for the MSMEs by resolving almost every pain point associated with loan procurement, which includes lack of transparency, extended processing time, inflexible tenures, higher interests, inadequate credit line, and a stodgy approach towards documentation.
The application process: seamless, futuristic, and avant-garde
At Kinara Capital, you need to directly apply on the website by starting with a 1-minute eligibility check. Then submit the relevant documents, and the process gets underway. Once the credit score, financial history, collateral valuation in case of hypothecation, and KYC is done, the loan officer gets in touch with the concerned MSME owner to move the application forward.
When all the details are verified and approved, the loan is disbursed within 24 hours. Therefore, it wouldn’t be wrong to state that as compared to the traditional lending institutions, it is better for MSMEs to put their faith in NBFCs like Kinara Capital.
This inclination helps them make the most of quick disbursals, holistic approvals for MSME loans, and a wide range of customer servicing scenarios with professionals lending assistance throughout the loan procurement process and even beyond.
Overall, the usurped growth of the digital lending firms seems like the way forward in the post-pandemic era as the anytime-anywhere credit access, reduced processing downtime, and an all-inclusive dashboard to track the financial health are expected to lower physical footfall and reiterate the concept of social distancing to the T.
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