KNAB Finance Unsecured Business Loan

Please Note: KNAB Finance is not a Paisabazaar partner. Offers would be from partner banks/NBFCs only.

KNAB Finance is a non-deposit taking NBFC registered with RBI that provides funding support to Micro Small and Medium Enterprises (MSMEs). KNAB Finance offers credit for individuals and businesses to meet their working capital requirements, for business expansion purposes, to invest in infrastructure, vendor payments, etc. The NBFC offers various lending products that include unsecured short-term business loans, merchant cash advance and invoice discounting.

KNAB Finance offers unsecured short-term loans at competitive interest rates, merchant cash advance at higher percentage of POS transactions and credit line at discounted rates for bill or invoice discounting.

Unsecured Short-Term Business Loan

KNAB Finance’s Unsecured Short-Term Loan shall be availed by SMEs with regular monthly cash flow; with short-term investment requirements. The company offers short-term business loans based on various aspects, such as applicant’s credit score, financial history, repayment capability, source of employment or income, debts (if any), business tenure, annual turnover, etc.

Short-Term Business Loan – 2022
Interest Rate	Depends on business requirements and borrowing period
Loan Amount	Min. Rs. 1 lakh & Max. Rs. 5 lakh, can exceed up to Rs. 15 lakh
Collateral / Security	Not required
Repayment tenure	From 12 months – 24 months
Annual Turnover	Rs. 25 lakh or more
Business Tenure	Min. 2 years, without falling under blacklisted or excluded list
Loan Disbursal	Within 4 working days

Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the NBFC and RBI. GST and service tax shall be levied extra on the mentioned charges.

Note: GST Return and ITR will not be required, if the loan amount is less than Rs. 3 lakh.

Documents Required:

• Identity Proof: Passport, Voter’ ID card, PAN card, Driving License
• Age Proof: Voter’s ID card, Passport, Driving License
• Address Proof: Aadhar Card, Utility Bills (Electricity/Water)
• KYC documents of owners, partners, promoters and entities (if applicable)
• Last years’ audited financials-along with annexure if any (3CA/3CB/3CD)
• Last 6 months’ bank statement and GST Returns
• ITR and statement of Income

Merchant Cash Advance

KNAB Finance offers a facility of Merchant Cash Advance (MCA) that is convenient for entrepreneurs or business owners who accept payments via debit or credit cards. This lending feature can be availed, if business owners are using Point-of-Sale (POS) machines for their daily transactions. With the help of this feature, business owners can raise short-term loans against credit/debit card sales.

Features

• Short-term loans to SMEs using swipe machines for daily transaction and consistent card settlement
• Majorly availed by owners engaged in retail, healthcare and hospitality sectors
• Collateral is not required to be submitted, owner’s card swipes and transactions acts like a collateral
• Hassle-free process
• Paperless documentation
• Loan Disbursal time: Within 3 working days

Eligibility

• Business Tenure of at least 2 years
• Minimum annual business turnover should be Rs. 25 lakh
• Data history of card swipe
• Business should not come under blacklisted or excluded list

Also Know: What is the eligibility for the MSME loan scheme?

Invoice Discounting

Invoice discounting or funding is for enterprises or companies largely engaged in international trade and uses invoices or bills for financial payments offered by the buyer with the help of financial institutions like banks or NBFCs. Companies can liquidate cash in exchange of unpaid customer invoices through this facility.

Invoice Funding can be availed by the following entities, such as Small and Medium Enterprises (SMEs), Micro, Small and Medium Enterprises (MSMEs), manufacturers, distributors, suppliers for large enterprises, etc.

Features

• Customers can avail around 85% of the invoice value
• Customer relationship in existence for over 3 months
• Collateral: Not required
• Annual Turnover should be more than Rs. 25 lakh
• Business Existence should be at least 2 years

Documents required for Invoice Discounting are same as already mentioned for Unsecured Short-term Business Loans.

Note: GST Return and ITR will not be required, if the loan amount is less than Rs. 3 lakh.

FAQs

Q1. What is the interest rate offered by KNAB Finance?

Ans. The interest rate offered by KNAB Finance depends on the business requirements and the applicant’s profile.

Q2. What is the maximum loan offered under unsecured business loans?

Ans. The maximum loan amount offered under unsecured business loans is Rs. 5 lakh and can exceed up to Rs. 15 lakh depending upon business requirements.

Q3. What is the repayment tenure of the lending products offered by KNAB Finance?

Ans. The repayment tenure offered by KNAB Finance ranges between 7 days to 36 months.

Q4. Do I need to submit collateral before availing business loans?

Ans. No, KNAB Finance does not require collateral, as offered business loans are majorly unsecured loans.

Q5. How can I contact KNAB Finance, if I want to take a loan or have any query?

Ans. You can simply visit the official website or visit at the below mentioned address, write an email or contact via mobile or WhatsApp number:

KNAB Finance
2 Floor, GR Towers L-127 4th Main Road
Sector 6, HSR Layout, Bengaluru, Karnataka – 560102
Email: contact@knabfinance.com
Mobile no: +91-80-46641300
WhatsApp no: +91-7349741507