Concept of Bad Credit Lousy or bad credit refers to a situation when people are unable to write off their loans by repaying them in time. This can result in a fall in their credit score, which is an overview of the financial standing of a person. To understand it further, a credit score is …
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You applied for a business loan with a particular target in mind and, after undergoing all the hassle, even succeeded in getting one. Once you were ready and all set with the newly acquired funds in your account, you implemented various changes that your business required. However, a few months later, you realised that things …
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Introduction Business loans are always the preferred option of every business person nowadays. Rather than dipping into personal funds, they prefer business loans. Whether to meet day-to-day office expenses or for business expansion, a business loan is a one-stop solution. The business loan in India is designed especially for manufacturers, self-employed, traders, entrepreneurs, and many …
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Introduction There are many pros and cons to refinancing your debt, but most people only realise this once they’ve already refinanced their debt. Refinancing should be a thoughtful decision, not rushed. Before taking action, you should consider the pros and cons of refinancing your debts to make good decisions that will make you happy. Debt …
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Introduction Every resident of India is given an Aadhaar, a 12-digit unique identity number issued by the Government of India’s Unique Identification Authority of India (UIDAI). Aadhaar Card is also a biometric documentary proof that enters your data into a database maintained by the government. An Aadhaar card is linked with the Income Tax Department’s …
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A three-digit number represents your credit report, called a “CIBIL Score” in India; it is linked with your Income Tax Permanent Account Number (PAN). Three hundred is the lowest possible CIBIL Score, and 900 is the highest. Therefore, the closer your CIBIL score is to 900, the better it is. However, if your credit score …
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The 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 …
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There’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 …
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The 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 …
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A business owner has dozens of challenges to face every day such as stock management, communicating with suppliers, keeping financial records, providing customer service, promoting the company, and the list goes on. In addition to these, monthly or quarterly GST return filling is a significant task that is time-consuming and needs lots of preparation and …
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Startups, which are dominating the global economy, need a lot of capital to grow. Two of the most common ways to secure capital are through equity and debt. Though they serve the same purpose, they are inherently different. When you borrow money from a lender with a promise to repay it with interest over time, …
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You’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 …
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