The MSME sector has a significant contribution to the economic growth of the country. According to India Brand Equity Foundation, the MSME sector has contributed about 29% towards the GDP through international and national trade. Women entrepreneurs have played a major role in the success story of the MSME industry.
Acquiring a business loan for women has always been an arduous task. A variety of social stigmas and systemic biases have stood in the way of women entrepreneurs being treated fairly. However, transformations in the financial landscape have led to the emergence of several FinTech platforms that have made loan acquisition easy for women entrepreneurs. In this article, we look at how a business loan for women can be effectively utilized to dictate business turnover.
Making the Most of a Business Loan for Women
Regardless of whether you want to expand your business to a new location, invest in advanced machinery, or hire more employees to cater to consumer demands, financing is the primary requisite. A business loan for women can have a multi-dimensional impact on the enterprise in a competitive environment. Here are a few of the ways it can be utilized to improve profitability:
- Maintaining working capital: A business loan can help women entrepreneurs maintain positive working capital. This enables the enterprise to meet all short-term financial obligations with maximum ease. Moreover, maintaining healthy cash flows can help a business stay afloat in any economic climate.
- New machinery: As a woman business owner, acquiring a business loan for women from a reputed FinTech like Kinara Capital can help you invest in quality machinery. Advanced equipment can significantly improve the total production output and give your enterprise a competitive edge.
- Stock purchase: Inventory management is one of the key elements involved in running a retail business. A business loan for women can allow entrepreneurs to keep their stock ready to meet the market demands and benefit from discount pricing for bulk orders.
- Digital infrastructure: Digital transformation has impacted businesses on a global level. Women entrepreneurs can improve profitability by investing the acquired loan amount in the digitization of the business. With digital khata, marketing, digital payments, and other processes, a business owner need not spend time on admin-related tasks.
Business Loan for Women: The Top Features
“It is not enough for women to just take care of the home. If you have a dream, you can pursue it, you just need some support, which I received from Kinara” – Shyamala, VV Creation.
The story of Shyamala is an excellent example of how women can break the glass ceiling and soar high in the competitive business landscape. Connecting with a leading FinTech like Kinara Capital for your financial needs can present you with a plethora of useful features. Here is a quick look at some of the highlights from Kinara Capital’s HerVikas business loan for women:
- Kinara Capital offers fast, secure, flexible, and collateral-free business loans for women entrepreneurs.
- The application process is completely digital and seamless and can be completed by women entrepreneurs themselves or with the effective support of Kinara loan officers. The professional loan officers at this leading FinTech promote gender parity and treat women and male entrepreneurs on par.
- The entire application process can be completed in vernacular languages online through the Kinara mobile application – myKinara, or the Kinara website.
- Another great feature is Kinara Capital’s doorstep service. A proficient Kinara loan officer can physically visit your home or business to complete the business loan application. This eliminates the need for you to travel long distances or wait in a queue to apply for a loan.
- HerVikas is a special scheme offered exclusively to women entrepreneurs by Kinara Capital. Under the HerVikas scheme, you can avail of a special discount on your business loan.
- Kinara Capital’s business loans for women require minimal documentation and the lender allow you to substitute some documents for others based on the availability
- The loans are disbursed in as little as 24 hours to help you address any immediate financing needs. Therefore, Kinara Capital’s HerVikas business loan for women is a productive tool for women entrepreneurs to dictate their business turnover in the trading, manufacturing, and service sectors.
Take their one-minute eligibility test today and embark on your journey to realize your entrepreneurial dreams.