A Guide on How to Get an Instant Business Loan

May 23, 2024
Updated on

What is an Instant Business Loan?

Instant Business Loans or Quick Business Loan is a credit facility that provides Micro, Small, and Medium Enterprises (MSMEs) with fast and easy access to capital. MSMEs often encounter the need for extra funding to address their myriad needs, and in such scenarios, business owners often tend to approach family or friends and secure funds informally. Others go to banks but traditional business loans usually take a lot of time and paperwork, making it difficult for MSMEs to get the funding they need on time. This is where Instant Business Loan comes in, often offered by Non-Banking Financial Companies (NBFCs) to address MSME financial requirements.

MSME owners can avail Instant Business Loans online without visiting any bank branch and spending a lot of time on this process. This loan facility is designed to help MSMEs meet their financial emergencies and bridge the gap between their current financial situation and future growth. MSMEs can use the amount to invest in purchasing raw materials, buying new machinery, hiring skilled employees, maintaining inventory, enhancing working capital, and so on. Getting business loan instant approval means MSMEs can access capital in a timely manner. Using instant business loan funds, MSMEs can speed up the growth of their business and take it to newer heights. While MSMEs need access to easy and fast loans, it is equally crucial for them to avail the loan from the correct lender.

How does Kinara’s Instant Business Loan help meet Sudden Business Demands?

Capital is a necessity for every business. Without adequate funding, it’s nearly impossible for any business to scale up. In addition, MSMEs may at times require funds to meet certain unforeseen needs on an urgent basis, including channeling finances to operational changes, planning for the cost of staff and new hires, evaluating the cost of new equipment or machinery purchases to suit demand, etc. In such cases, an instant business loan is the perfect solution. Kinara Capital offers unsecured business loans, with business loan instant approval, so that MSMEs can access funds right as they need it. Kinara’s Instant Business Loan, which is available in the range of Rs. 1 lakh to Rs. 30 lakhs, can be used by MSMEs to meet a range of sudden business demands, from bridging gaps in the cash flow to servicing a large order.

What are the Benefits of taking Business Loan from Kinara?

Kinara Capital stands out from other lenders in the market as an RBI-registered fintech NBFC, which offers collateral-free loans to MSME entrepreneurs. The loan process is completely transparent, and is completed within just 24 hours, ensuring that MSMEs get their capital on time. Kinara also ensures easy repayment and supports MSMEs with additional loans as needed. Here are the main benefits of taking a business loan from Kinara:

  • Collateral-free Business Loans: Kinara Capital provides Unsecured Instant Business Loans to help MSMEs accelerate their business growth. All registered MSMEs from the trading, manufacturing, and services sectors can easily apply for an Instant Business Loan from Kinara without mortgaging any property collateral.
  • Minimal documentation: Kinara provides Instant Business Loans to MSMEs with minimal documentation. Businesses can get Instant Business Loan approval online within no time. It helps small businesses to focus on their core and fulfil their business goals rather than going through time-consuming documentation procedures.
  • Loan in 24-hours: Online submission of the documents helps in processing the Instant Business Loan fast. With small business loan instant approval MSMEs get same-day approvals with disbursals within 24-hours once the documents are submitted and verified.
  • Doorstep customer service: Kinara Capital offers doorstep customer support in local 6 languages. It also offers services like document collection, so that business owners can get loans from the comfort of their homes or business premises.

How to get Business Loan from Kinara?

Getting a loan from Kinara is very quick and easy. Here are the eligibility criteria, documents and process involved:

Eligibility Criteria

More than 300 sub-sectors in the Manufacturing, Trading, and Services sectors are eligible to apply for an Instant Business Loan from Kinara Capital. The requirements to apply for Kinara’s Instant Business Loans, are:

  • The enterprise should be registered as an MSME from the trading, manufacturing, or services sectors.
  • MSMEs must be from one of the serviceable pin codes in one of these locations: Karnataka, Gujarat, Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, or UT Puducherry.
  • The total monthly turnover of the business should be greater than Rs. 50,000 and less than Rs. 2 crores.

Read to know more about business loan eligibility criteria.

Documents Required for a Business Loan

With the use of AI/ML, Kinara Capital has built data-driven credit decisioning to provide fast service to small business entrepreneurs. Kinara has a simple and minimal documentation process and offers the option to substitute certain documents for others based on availability. Following are the documents MSMEs need to submit to apply for business loans.

  1. Proof Of Business Registration: MSMEs have to provide proof of the company’s existence. This may be presented as water or electricity bills, Udyam Registration, Company registration, the PAN card of the business, etc.
  2. Proof Of Individual Identity: MSME business owners need to provide their proof of identity as well. This can be fulfilled by Aadhaar card, PAN card (personal), Driver’s License, Passport, etc. While Kinara recommends PAN or Aadhaar for the owner, the co-applicant can provide Voter ID, Driver’s License, or Passport instead.
  3. Financial Documents: Finance-related documents such as bank statements, profit and loss accounts, balance sheets, passbooks, account statements, etc would need to be submitted. If MSMEs have GST, then they can submit the GST filings as well.

Step-by-Step Process to Apply for Business Loan

At Kinara Capital, we have a fully online application process. There is a simple 3-step application process, followed by approval and disbursement. If you meet our MSME loan eligibility criteria, you can apply for business loans and your loan could be processed in just 24 hours. Here’s a step-by-step explanation of Kinara’s collateral free business loan process:

Step 1: Quick Eligibility Check
In less than a minute, you can find out if your business qualifies for the loan! You can access the eligibility check in seven different languages available on our website for a seamless experience.

Step 2: Screening
The business and the entrepreneur are screened following Kinara’s MSME loan criteria by validating the KYC and registration details.

Step 3: Document Upload
You need to submit your KYC, applicant, co-applicant, business KYC (ID and address proof), applicant PAN Card, business registration document, last 12 months’ bank statements, GST registration (if available), and business vintage proof.

Step 4: Loan Approval
Once you complete the process, your loan application will be reviewed, and if everything is in place, the Kinara officers will approve your MSME loan.

Step 5: Disbursement

Once your loan is approved, you will receive the loan amount directly in your account within 24 hours.

Grow your MSME with collateral-free business loans

How to Increase the Chances of Getting an Instant Business Loan?

Several factors can affect the chances of getting an instant business loan online, including:

Business health: Many lenders take the health of the business into account when making a credit decision. A business that has been operating well for a few years is likely to be stable and have created its own niche in the market. It’s also a testament to the owner’s ability to efficiently manage finances, and therefore, repay the loan, and is a good way to secure business loan instant approval.

Credit Score and History: Some lenders, particularly traditional ones like banks, rely on credit score and history to determine the creditworthiness of a borrower. Your business credit score is determined by your history of loan repayment and your credit score is adversely impacted by factors like defaulting on payments or making too many loan inquiries. To get an instant business loan approval, ensure that you maintain a good credit score.

Collateral: While it would be ideal to get an instant unsecured business loan, there are a lot of lenders who still rely on collateral to issue credit. If you approach a lender for a secured loan, you will need to have assets you can leverage as collateral in order to get a business loan.

Cash flow: New age lenders like fintech NBFCs often take factors other than credit score into consideration when granting an instant business loan. One of the main considerations is cash flow. A healthy cash flow means the business is doing well, and the owner is unlikely to default on payment. It’s important to maintain transparent and consistent financial records, showcasing your ability to manage cash flow effectively.

Eligibility: Eligibility criteria vary depending on the lender. While banks have fairly strict criteria in place, new-age lenders like NBFCs tend to be much more flexible. This might include factors like business vintage, age of the borrower, nature of the business, and turnover. Make sure you meet the eligibility requirements when applying.

Documentation: Make sure you have all the important documents pertaining to your business handy when applying for a loan. Traditional lenders like banks often require extensive and physical documentation, whereas new age fintechs might ask for minimal documentation and even allow document uploads, resulting in business loan online instant approval.

Why should MSMEs choose Kinara for Instant Business Loan?

Instant Business Loans are a great way for MSMEs to improve cash flow, expand operations, purchase new equipment, and even cover unexpected expenses. The best part is that the entire process is automated and can be completed online. This eliminates the need for lengthy paperwork and tedious approvals. Now, how can business owners identify the correct lender? The first step is verifying the lending company is legal and compliant. You must ensure the lender is registered with the Reserve Bank of India (RBI). Then, the second step is to research if there are lenders offering instant business loans and the type of loans they provide. Some of the other crucial parameters to look for before identifying the lenders are eligibility criteria, terms and conditions, and interest rates. Instant Business Loans are available from reliable fintech NBFCs like Kinara Capital with minimal documentation.

Kinara Capital provides Instant Business Loans to MSMEs, which are needed to meet requirements that would be otherwise unachieved with the limited business budget that businesses often have. It helps MSMEs to expand quickly and continue their operations successfully.

The application process for an instant business loan can be simple and straightforward. MSMEs must provide basic information about their business, such as the business name, address, and a few financial details. Based on this information, the lender will assess the borrower’s eligibility and sanction the loan amount. Once the borrower accepts the offer, the loan amount will be transferred directly to the mentioned bank account within a particular time frame. The loan usually has a fixed interest rate and a repayment period.

Kinara Capital assists MSME entrepreneurs to take their businesses to a greater level by providing collateral-free business loans up to Rs. 30 lakhs! Registered MSME entrepreneurs can evaluate their eligibility for a business loan in just 1-minute by starting the digital-first application process on the website of Kinara Capital or by downloading myKinara App. Once the loan is approved and the formalities completed, the loan amount will be disbursed instantly to their mentioned bank account within 24-hours.

Also, we have a dedicated customer support team available between Monday – Friday (9.30 AM – 6.00 PM) at our toll free number 1800-103-2683 for any questions or assistance. This ensures that entrepreneurs can get the help they need throughout the loan process.

1. Proof Of Business Registration 

MSMEs have to provide proof of the company’s existence. This may be presented as water or electricity bills, Udyam Registration, Company registration, the PAN card of the business, etc.

2. Proof Of Individual Identity

MSME business owners need to provide their proof of identity as well. This can be fulfilled by Aadhaar card, PAN card (personal), Driver’s License, Passport, etc. While Kinara recommends PAN or Aadhaar for the owner, the co-applicant can provide Voter ID, Driver’s License, or Passport instead.

3. Financial Documents

Finance-related documents such as bank statements, profit and loss accounts, balance sheets, passbooks, account statements etc would need to be submitted. If MSMEs have GST, then they have to submit the GST filings as well. 


1. How can I get an Instant Business Loan online from Kinara Capital?

To avail of an Instant Business Loan online, registered MSMEs must take the 1-minute eligibility check on the Kinara Capital website or download the myKinara App. MSMEs qualified for the business loan can continue with the loan application and submit all the required documents. Once the documents are uploaded, and verification is completed, the loan amount will get disbursed to your mentioned bank account within 24-hours.

2. What are the documents required for availing Instant Business Loans?

Kinara requires businesses to complete the KYC process for Instant Business Loans. Some necessary documents are Aadhaar Card, Udyam Registration Number, Business Registration Proof, and Bank Statements (12 months).

3. Why choose myKinara App?

myKinara Instant Business Loan process is easily accessible with additional support provided by phone, chat, or doorstep customer service. Further, it is important to know that Kinara Capital is an RBI Registered Non-Banking Financial Company (NBFC), ensuring a fair process for its applicants in compliance with RBI regulations. Our customers choose Kinara Capital for three main reasons:

  • We can provide loans instantly with a fully digital process within 24-hours
  • We do not require any property collateral
  • We provide doorstep customer service in the vernacular language

4. Is collateral required for an instant business loan?

Some lenders do ask for collateral against instant business loans, however, Kinara’s business loans are collateral-free. You do not need to provide property collateral to avail of a quick loan from Kinara.

5. What should I keep in mind before applying for a Business Loan?

Properly understand the interest rate, other charges, and terms and conditions of the loan. Calculate your monthly EMIs and make sure that you have the ability to pay them, since defaulting on a loan can result in penalties and affect your credit score. Do your due diligence and find a lender that suits your requirements and is transparent about the loan terms and process before you apply.

6. How does the EMI calculator help with loan planning?

Knowing what your EMI outgo will be is critical to ensure that you are able to efficiently repay your loan. Once you know the loan amount, tenure, and interest rate, use the EMI calculator to figure out how much you will be paying each month. Keep in mind that while a longer tenure might mean a lower EMI amount, it will result in you paying more over the long term.

Check your Eligibility in 1-minute!

Check your Eligibility in 1-minute!

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