Most Small & Medium Enterprises need fast working capital, not only to cover their operational needs but to expand and diversify their business too. The traditional lending institutions tend to make the process of acquiring short term business loans tedious with extensive paperwork, long wait times, and the need to submit a collateral.
KNAB Finance’s Unsecured Short Term Loan is ideal for SMEs with positive monthly cash flow and short-term investment requirements. Our easy eligibility and paperless application process ensures businesses get access to credit super fast. This ensures that you can fast-track your business growth and boost your profit margins. The online application form will only take a few minutes of your time.
What Is An Unsecured Short Term Loan?
Unsecured business loans are small business financing options that don’t require a borrower to offer any collateral for the loan. Unlike secured business loans, unsecured loans won’t require you to offer up any property to secure your financing. These loans are given on the basis of a borrower’s financial history, credit ranking and cash flow forecast.
Whom Is It Best Suitable For?
Unsecured business loans are most suitable for owners who are running small or medium-sized businesses and are in need of working capital to escalate the growth. Be it for investment in infrastructure/maintenance, business expansion, vendor payments, new procurements, or operations, the loan can help business owners immensely.
KNAB provides a super fast unsecured business loan to small businesses for their working capital requirements. Our application to disbursal process is quick and convenient.
ApplicationFill in the application with your required details, like company and owner name, address, PAN number, and turnover.
Eligibility CheckThe filled in details will then be checked to see if they fit into the eligibility criteria. If yes, you’ll be taken to the next step of documentation.
DocumentationFill in the bank and proprietor details and upload the required documents.
DisbursalYou loan application is now complete. Accept the terms and conditions and check your appointment date. Your loan would be processed shortly.
Benefits Unsecured Short Term Loan from KNAB Finance
Unlike loans from traditional lenders like banks, unsecured short term business loans do not demand any security, usually valuable personal assets, from the borrower in lieu of the loan. This is the most unique aspect of an unsecured short term loan because it makes the borrower feel safe and at least risk. We provide loans between INR 1-5 Lakhs, which can be easily repaid. Our loan period is usually shorter, ranging from 1-2 years, and the interest rates depend on the borrowing period.
Simplistic Eligibility Criteria
For an unsecured loan with KNAB Finance, the following criteria need to be met by your company:
- Turnover of above 25 lakhs
- Business vintage of over 2 years
- The business should not fall under blacklisted/excluded list
Easy Application Process
The application process for an unsecured short-term loan is quick and easy. All that you need is a working internet. The application form for the loan can be filled online and will only take 10-15 minutes. The digital process speeds up the whole process, making it smoother and easier for you. For the final agreement, we come at your doorstep so that you don’t even have to step out.
Quick Approval, Disbursal, and Paperless Documentation
The approval period for an unsecured business loan at KNAB is easy. It is not a slow-moving process with multiple meetings and heavy paperwork, rather there is involvement of minimal documentation. With correct information and documentation, we ensure that the disbursal of the proposed loan is done within just 4 working days.
- Promoters and entities KYC
- 1-year of audited financials-along with annexure if any (3CA/3CB/3CD)
- Last 6 months Bank eStatement (Recent)
- Last 6 months GST Returns
- ITR and statement of Income
We recommend uploading/sharing the original documents that you receive from your bank, tax authorities, CA/Auditors
Note: For loan amount of less than 3 lakh, furnishing GST Return and ITR will not be required.
Flexible Repayment Tenure
Our flexible options make the repayment tenure easy for small business owners. You can opt to repay through monthly EMIs or through daily transactions, depending on your convenience based on the business earnings. When you choose repayment through daily transactions, a part of your business’ daily transaction is deducted to repay.
No Hidden Cost
Apart from the processing fee, there are no other hidden charges involved for short term business loan in India. The terms and conditions and entire communication are transparent.