Small retailers like you have always been the single main source of goods and supplies for neighborhood communities. Yet, you have been denied access to formal finance owing to collateral requirement, lack of credit history and documentation. Also, traditional financial institutions do not offer small-ticket short tenured loans that small store owners often need. This might have taken a toll on your business operations and halted its growth.
Proprietor Loans is a customized finance solution designed for small store owners such as salons, medical stores, kirana stores, mobile phone retailers, small restaurants, etc. who are associated with our partners. You can avail this loan for small store as a regular term loan (Unsecured Business Loans), loan against card swipes (Merchant Cash Advance) or revolving credit facility (Pay Later). By leveraging the benefits of an increase in cash flow and existing relationships with customers, you can experience high profitability and strengthen your foothold in the domestic market with Proprietor Finance.
The amount of loan for kirana store you can avail varies according to the type of Proprietor Loan you choose, such as:
Based on the Proprietor Loan model, the duration of the sole proprietorship loan also differs. The loan against card swipes and regular term loan can be procured for a tenure of 6 to 9 months. For the revolving credit facility, the loan tenure is set at 12 months.
The process of applying for Proprietor Loans takes places through a dedicated mobile app, which can be downloaded from app stores. Through the app, you can apply for business funding from the comfort of your home or store and submit the required minimum documentation digitally. The entire procedure is completed in less than 3 minutes.
Post approval of your loan application, you can receive the loan for shopkeepers to your bank account instantly, so that you waste no time in covering an unexpected business expense or capitalizing on a lucrative business opportunity.
Proprietor Finance covers a wide range of small retail verticals, including neighborhood mom-and-pop stores, salons, medical shops, mobile phone retailers, small-scale restaurants and food outlets, etc.
The eligibility criteria for Proprietor Finance are fairly simple and user-friendly. Ensure that the following terms are met before applying for this small business loans for sole proprietorship:
Keep digital copies of the documents given below handy at the time of application of small business loans for sole proprietorship.
At Capital Float, we pride ourselves on conducting business in the most transparent manner. For Proprietor Loans, we typically charge a processing fee of 2.5% of the availed amount. There are no hidden or pre-closure penalties during or after your application procedure.