Starting and running a business requires a steady capital flow, and there’s no denying that. Everyone needs a lump sum amount ready when building a new business from scratch. Most business people save up that amount from years of financial planning. In contrast, others decide to start with an MSME business loan. Both methods have …
Read MoreIntroduction The primary eligibility criterion for every business loan application is the three-digit CIBIL score. The CIBIL score reflects the creditworthiness of the loan applicant. One must review their CIBIL report before applying for a business loan. Sometimes, discrepancies in the CIBIL score report can affect the borrowing ability of an applicant. Such issues warrant …
Read MoreThe loans taken for expanding or managing the business costs are referred to as business loans. Small business loans are usually taken by startups who don’t have the necessary funds to initiate a business. Even established businesses can apply for these loans to manage sudden expenses or emergencies. Banks, NBFCs (Non-Banking Financial Companies), and other …
Read MoreThere’s a common misconception that a business must have a savings account to get approval for a small business loan. However, when you apply for business loan the type of account your business has—savings or current—doesn’t impact your loan eligibility. Rather, lenders will look at your business’s financial history and cash flow to determine whether …
Read MoreThe non-banking financial companies (NBFCs) are those organizations regulated by the Department of Non-Banking Supervision (DNBS) of the Reserve Bank of India (RBI), which are allowed to extend credit services to consumers and businesses. The NBFCs have been offering their clientele products like loans, credit cards, insurance, investments, and other services. Top 10 NBFCs in …
Read MoreYou’re always looking for ways to grow your business as a business owner, aren’t you? One way to do this is to obtain a loan. Business loans are a popular financing option for small businesses. While the terms and conditions of these loans vary, one key element is always present: the loan principal. This article …
Read MoreSaving money is an essential financial habit that everyone should develop. It helps you in times of need and enables you to reach your financial goals. While there are several ways to save money, investing in a savings plan is one of the most effective methods. A savings plan or Saving Scheme is a life …
Read MoreBusinesses need credit cards for a variety of reasons. They may need to make large purchases, such as equipment or inventory, and may not have the cash on hand to do so. Credit cards can also help businesses manage their cash flow by allowing them to make smaller purchases over time. Additionally, credit cards can …
Read MoreYour credit report is a detailed account of your financial history, containing information about your credit accounts, late payments, bankruptcies, etc. These agencies collect data from creditors and use it to generate your credit report. Your credit report is an essential tool that lenders use to determine your creditworthiness. Even landlords, employers, and insurers use …
Read MoreAadhaar is a 12-digit unique identification number issued by the UIDAI (Unique Identification Authority of India) to Indian citizens. This number serves as proof of identity and address anywhere in India. It is now mandatory to quote the 12-digit Aadhaar number while filing income tax returns and when applying for a permanent account number (PAN). …
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