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Information enables, knowledge empowers, wisdom elevates. In this age of smart phones and digital enablement for all, new forms of credit are constantly coming to our door steps; being aware can transform the way we think about funding our businesses. We are passionate about issues that surround small businesses and this space is devoted towards spreading awareness about various tools that can benefit entrepreneurs. Keep reading..

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May, 2016

How can I enhance my business loan eligibility?

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How to improve eligibility for availing business loan? One of the primary reasons for inability of Small Businesses to obtain formal finance is non- compliance with regulatory requirements. We have collated some quick links to fulfill some of the key compliance requirements. What’s more, most of them can be obtained online! 1. Check and download your credit score – All lenders check your CREDIT score before approving any kind of loan!. Know more and improve your credit score! 2. Download your Aadhaar card – Aadhaar card is an officially recognized document that can be used […]

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May, 2016

5 things that Small Businesses must do to successfully avail a business loan!

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Bankers are keen to lend to creditworthy entrepreneurs and viable projects. We provide below 5 key things that you should start doing now to avail a business loan from a bank: 1. Understand how lenders appraise viability of your project. 2. Check your credit history or credit score – Your credit scores can be checked online, typically credit scores in India are maintained by credit bureaus, they track your credit availing history like loans, credit cards, consumer durable loans etc and calculate a score basis these. Each time your apply for a […]

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May, 2016

What are the typical documents required to avail a business loan?

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Dear Entrepreneur, Off late this is the most common question we have been asked, what all documents are required while attempting to avail a business loan or a working capital loan? While providing a loan to you a bank needs to perform its Know Your Customer (“KYC”) check. What it means is financial institution needs to look at the identity and address proofs to confirm the genuineness of their customers and perform credit assessment to grant you a loan. As financial institutions are regulated entities, they need to perform KYC on […]

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May, 2016

Credit Score Basics – Why is credit score so important for SMBs?

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Recently we have received lot of queries regarding credit scores and the role these play in getting loans of any kind. So here is an easy guide to comprehend credit scores.. 1. What is a credit score and why is it important? Your credit score is a number that is generated by a credit bureau and is used by lenders to assess your credit worthiness whenever approached for any kind of loan. It is generated by using records of your repayment history. Most of the lenders report your credit track records […]

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May, 2016

When should I avail a working capital loan?

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1. What is a working capital loan? Funds required to run day today operations of a business are known as working capital. For example purpose can be to purchase raw material, pay salaries, transport finished goods, providing goods on credit to customers, basically to fund day-to-day operations of a business. 2. What are Current Assets and Current Liabilities? Below is an example of cash conversion cycle in a manufacturing business. In simple works cash conversion cycle or an operating cycle is the time required from procurement of raw material to sale of […]

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May, 2016

Business Loan Basics for Small Businesses!

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1. What is a business loan? A business loan is a loan taken from a lender for the purpose of conducting or expanding one’s business related activities like purchasing inventory,stock, managing receivables, machinery purchase, infrastructure set up, hiring staff, machinery modernisation etc.. 2. What are the terms of a business loan? Generally 3 to 5 years tenure. Interest rates vary a lot depending a  upon lot of factors like your credit history, your current business characteristics, type of lender and last but not the least how urgently you need funds! Range […]

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