Why BizSmart the best option for a quick loan requirement?16 Dec 2016
For any business, small or big, financial health is everything. Adequate finances are required almost on a day-to-day basis – it could be funds for expansion; could be money required for increasing inventory or simply to maintain the daily cash flow.
Are you wading through red tape?
Access to these required funds is not always easy. Any businessperson worth his salt knows the many difficulties of obtaining quick loans. Loan application processes in banks and financial institutions are many times complicated and time-consuming. Though the financial needs of MSMEs (Micro, Small and Medium Enterprises) are only growing, the loan process seems to be getting more difficult and cumbersome.
KNAB finance – a breath of fresh air!
In such a scenario, a company that can provide loans to MSMEs in an easy manner comes as a breath of fresh air. KNAB is a NBFC which is at the forefront today in providing a comprehensive alternative credit assessment model leveraging technology. KNAB is leveraging technology and automating the overall process reducing the processing costs making short term financing to MSMEs viable.
KNAB Finance firmly believes that the growth of the economy and improvement in the quality of life of stakeholders can be enabled by the success of MSMEs. And if they have to succeed, they need to be supported in their financial needs. In practical terms, this essentially means making loans a simple and hassle-free affair with quick turnaround times, reduced paperwork and ease of eligibility.
Simple and hassle-free loans
With this vision in mind, KNAB finance has introduced the ‘BizSmart’ Loan product for businesses seeking quick short-term collateral free loans. BizSmart Loan is suitable for supplier and channel financing as well.
Why opt for Bizsmart?
For businesses, fast finance is more business! And to achieve real success, every business needs a financial turning point. BizSmart aims to provide precisely that. Some of the key features of the BizSmart are:
- Great flexibility: Once the loan is approved, the customer can avail it according to their needs — either in full or over a period of time. One can even choose to avail only a part of the approved loan. This will help the customer reduce his overall costs and plan his credit usage efficiently. And all this at no extra charge. What’s more, there is flexibility in payment as well. The customer can opt without any charges for pre-payment, early payment / part payments. The BizSmart can be customized to suit specific business needs.
- Short term and Collateral free: Banks and FIs usually do not provide loans for less than one year. But BizSmart can meet requirements from 15 days to 12 months, making life that much easier for MSMEs.
- Easy availability and processing: Some micro and small enterprises do not meet strict bank criteria such as credit history, three-year financials etc. BizSmart can be availed even by first-time entrepreneurs with only a year’s audited balance sheet. It has one of the easiest loan approval process in the industry. All you have to do is keep sitting in your office! You can apply, upload and sign agreement from the comfort of your chair.
- No red tape: Since the loans are e-enabled, processing them requires little documentation and virtually no documentation after disbursal (in the case of pre-payment, part payment, rescheduling etc.). The application is done directly, without any middlemen, thus eliminating all chances of encountering process delays and red tape. The entire process is transparent right from the word go — the details of the loan can be accessed any time and the account is also constantly updated with interest and payment specifics.
Benefits of BizSmart
Even a cursory look at the features of the loan makes it clear that the advantages are many, both for enterprises enabling their supply chain / channel finance as well as the businesses availing the loan.
For large companies, BizSmart provides a great opportunity to increase the financial capacity of the businesses in their supply chain. With BizSmart, large companies can easily manage short-term financial challenges of the distributor / supplier because:
- Loans are flexible and customisable
- The eligibility criteria considers realities of Indian MSMEs.
- Loans are available across most of India.
- Loans are digitally enabled and the process transparent.
BizSmart provides the financial muscle MSMEs need to thrive in the competitive market space.