Kirana Friends

How To Get a Business Loan for a Kirana Store ?

Opening a Kirana store requires money to invest in renting or building the store. You also need constant cash flow to run the store operations smoothly. You may not always have the money available right away but that shouldn’t stop you from opening or running your Kirana store. Taking a business loan to run your Kirana store is a very common thing which successful store owners do and you can do the same. This article will walk you through the steps necessary to obtain a loan for your Kirana store, ensuring that your business survives.

  1. Know why and how much money you need: Before applying for a loan, understand why you need a loan. Do you need the loan to open your store, to buy more products or to pay salaries? How much is the amount of money you need as a loan? Because there are multiple types of lines such as Casflow loans, Capex Expenditure loans etc. and interest rates are different for each type of loan and amount
  2. Find the Right Lender: Determine which financial organisations or lenders specialise in small business lending. To find the best lender, compare interest rates, loan terms, and eligibility requirements. Some lenders are:
  3. Regular Banks: Many folks first think of them. They have good rates but might ask for a lot of details
  4. NBFCs (Non-Banking Financial Corporations): They might approve loans a bit faster but could charge a bit more interest
  5. Microfinance: Great for small Kirana stores like yours because they focus on helping out the small businesses
  6. Government Loan schemes: Look out for schemes like MUDRA, which help small business champs like you!
  7. Gather Required Documents: Make sure you have all of the relevant papers available to speed up the application process. Certain documents needed are:
  8. A paper showing you own a business
  9. Bank details from the last six months
  10. Business permits and licences
  11. GST papers
  12. Your tax papers from the last 2-3 years
  13. Shop rent papers (if you rent your shop)
  14. Personal IDs like Aadhar and PAN card
  15. Build a Strong Credit Profile: Maintaining a solid personal and corporate credit score is vital for loan acceptance. To improve your creditworthiness, pay your payments on time and handle your finances carefully.
  16. Collateral or Guarantor: Some loans may necessitate the use of collateral or a personal guarantor. If necessary, be prepared to contribute assets or seek a co-signer.
  17. Apply for the Loan: Submit your loan application to the lender of your choice, along with any required papers. To accelerate the approval process, ensure correctness and completeness.
  18. Review Loan Offers: When you receive loan offers, carefully analyse the terms and circumstances, including interest rates, repayment schedules, and any lending costs.
  19. Loan Approval and Utilization: Once the loan has been approved, use the cash wisely for the desired purpose. Maintain financial discipline in order to make regular payments.


Securing a loan for your Kirana store can be a significant step toward business growth and success. By following these steps and conducting proper research, you can increase your chances of obtaining the financial support you need.

Tap into the potential of your business by getting in touch with Kirana Friends. You can connect with a Kirana Expert by calling or messaging us on 8010442222.

You can also download the Kirana Friends Application from the Google Play store by clicking on the link below and learn how to run your store more profitably.

Leave a Reply

Your email address will not be published. Required fields are marked *