Secured Loans Vs Unsecured Business Loans: Difference & How It Matters
When there is a need to borrow funds for business, the business owner founds himself caught between secured loans and unsecured business loans. These two types of loans that the business owner can avail has its own set of advantages and disadvantages. And when the business owner has to choose between the two, he must know both the types of loans in depth in order to be able to make a sound decision. Secured Business Loan also read: how to get self-employed business loans in India? The Secured loans, also called collateral business loans, are the ones where you have to
Read moreBeware: This App Can Steal Money From Your Bank Account, Warns RBI
The Reserve Bank of India has warned all online banking users against a mobile App that can fraud them with money. If a mobile application called Any Desk is installed on your phone, there are chances that somebody is spying on your bank account details. And he can steal money from your account at any time. This application first works towards stealing all your banking details. It then saves the details and uses it to rob money from your bank account. RBI is warning online banking users against it. This Fraudulent application, Any Desk, works like a remote access service. It
Read moreHow To Maintain Credit Score As An SME?
While applying for a business loan, all lenders check the Credit score of the businessman. The CIBIL or credit score is an important eligibility criterion. The loan lenders only approve the loan application if the business owner has a high CIBIL score. There are various factors that affect the credit score. And in order to get the loan application approved, the business owner must get know these factors and high CIBIL score. What is a Credit Score? also read: DID YOU know these facts about CIBIL SCORE? A credit score is a number that ranges between 300 and 900. It is
Read moreWhat Are The Factors That Affect Business Loan Interest Rate?
Business loan interest rate is the first factor that comes to your mind when you first think about availing a loan for the business. While the interest rates differ from one lender to another, there are a few factors as well that can influence business loan interest rate. So, there is a need that you consider all these factors before applying for a business loan. If all these factors are in your favor, you will surely be offered low interest rates by most lenders. Read on to know these factors that can help you lower down the interest rate. CIBIL
Read more7 Small Business Loans Myths Busted For Businessmen In India
Small business loans are important for small businessmen in India to run their business. It is true that commencing a business venture is not an easy task. A good idea is certainly the prime requirement to starting a business. But the aspect that helps you in running the business successfully is to stick to the idea no matter how many odds you face. As you toil hard to run the business to its full potential and arrange for funds, there are times when you will find availing small business loans the best idea for your business. And when you decide
Read more