An individual being the head of a multi-million dollar corporation may have defaulted on his/her credit repayment. This makes his/her credit score decrease considerably. A higher credit score would make you eligible to apply for business loan and have it sanctioned. Banks and NBFCs look for businesspersons with an impressive credit score as one of their criterion for giving business loans. This credit score ranges … Continue reading Best Ways to Improve Your CIBIL Score While Applying for A Business Loan
Borrowers with an established business in the market can avail business loans. In contrast, start-ups and small-scale businesses can apply for MSME loans to meet their essential business requirements. However, before availing a loan, individuals need to register their business in the MSME databank. Individuals need to know the differences between MSME loan and business loan to make an informed decision. Type and loan purpose … Continue reading What is The Difference Between Business Loan and MSME Loan?
CIBIL, a part of TransUnion, is one of the RBI-approved credit rating agencies that are responsible for generating credit scores of individuals and businesses based on the data provided by the banks and lending institutions. CIBIL full form is Credit Information Bureau India Limited. A CIBIL score determines whether an individual is likely to repay his debt or loan in time. Therefore, lenders consider it … Continue reading What is a Good Credit Score? Top 3 factors that affect your credit score
Similar to how borrowers choose between unsecured and secured loans to meet their financial requirements, business owners have the liberty to select a suitable financing option for their company. Owing to the popularity of the small and medium industry sector, financial institutions now extend MSME loans alongside traditional business loans to aid entrepreneurs. Nevertheless, irrespective of being a mode of credit, these two are distinct from each … Continue reading Know About The Difference Between Business Loan and MSME Loan
MSME full form – Micro, Small and Medium Enterprises, are growing gradually over the years. The ready availability of business loans is one of the reasons for this growth. Simultaneously, the threat of NPAs is also rising. Therefore, to reduce the delinquency rate, lenders set strict eligibility criteria that borrowers have to fulfill to be eligible for the funds. Firstly, individuals need to know that … Continue reading How to Expand Your Business with Small Business Loan?
India’s MSME industry has long been the key driver of the country’s manufacturing prowess. Throughout 2020, this industry has seen significant growth, despite a slow economy and slouched international relationship. The availability of new business loans, extended by various commercial lenders at attractive terms, has provided the necessary monetary backing to fuel the growth of this sector. Several new schemes introduced by the Government of … Continue reading How to Get Quick Business Loan for Your Organization?
Over the past years, non-banking financial institutions have evolved tremendously owing to their loan offers and facilities. Reputed NBFCs come with less stringent terms and conditions, convenient repayment, reasonable rates of interest, quick disbursal, and other attractive features. As a business owner, you can apply for business loan with an NBFC for several reasons. Of all, some of the best reasons to avail business loans … Continue reading Why You Need to Apply for A Business Loan?
Wondering how to improve credit score India before applying for a business loan? You should first get some knowledge about credit scores and how they are calculated. There are various effective methods to improve credit score for business loan. These include the following: Use your credit card wisely. Clean the credit card, clearing all accumulated dues and interest and pay your dues in a timely … Continue reading How can I Improve my Credit Score for Business Loan
The PM of India has launched his PMMY which encompasses the MUDRA loan scheme. Done through the combined effort of SIDBI and CGTMSE, these loans are meant for non-agriculture and non-corporate micro and small business setups. While the maximum cap on MUDRA loans is Rs. 10 Lakh, CGTMSE also has scheme offering unsecured loans going up to Rs. 1 Crore. There are numerous government loan … Continue reading Loans Schemes Launched by the Government of India for Business Owners
One often requires business loans to boost cash flow and working capital. So, if a borrower already knows the payment every month every before applying for the advance, it will help him/her to take apt financial decisions. A business loan EMI calculator is an easy-to-operate tool that helps you achieve that. It calculates both the business loan interest rate and the payable EMIs on your … Continue reading Here is How Business Loan EMI Calculator Works