How To Enhance MSME Loan Eligibility?
Contrary to what people think, running your own business is not an easy task. It is a far cry from what general perception is that you just need to give orders to people to work and then only have profits to take care of. Whereas in reality, it is exactly the opposite. You need to take care of so many aspects of the business, ensuring that everything goes on smoothly without any hassles. You have to manage people and resources efficiently to ensure that you get maximum returns form your efforts. After all, you do not have limitless resources like
Read moreITR Filing Date Extended To 31 Aug, Know How To File Returns
The date for filing ITR in India has extended for FY 2018-19 to August 31, 2019, from July 31, 2019. It is a much-needed relief for the taxpayers as they were facing multiple problems in filing returns by July 31. The earlier deadline was for individuals and HUFs. It is that category who are not mandatory required to get their accounts audited for tax purposes. Many CAs and tax practitioner societies have appealed to expend the date to provide sufficient time to taxpayers to file ITR. Additionally, the ITR form 1 has also been simplified to make it easier for
Read moreYour Basic Guide For Understanding Machinery Loans
Whether a start-up or established, most businesses require funds to cover the capital and operational costs. As such times, they also think of availing business or machinery loans to meet their requirements. To avail such loans, it is vital to have a good CIBIL history. With the help of appropriate documents and high CIBIL score, the lender also determines consistent cash flow for the business. One the part of the borrower, you should gain knowledge regarding collateral requirement, interest rates, repayment options, and other critical factors. Several loans lenders in India offer machinery loan and other types of loans for
Read moreWhy Are Unsecured Small Business Loans So Famous?
A small business often requires more or additional funds to finance its day-to-day activities, expand operations, invest in infrastructure, or just to increase working capital. However, many times, due to lack or inadequate funds, its growth is hindered. It is when a small business opts to avail Business Loans. However, traditional lending institutions in India, such as banks, rarely offer loans to them as they demand collateral which a newly established business or small enterprise mostly fail to provide. In such a scenario, an unsecured business loan comes into the picture. A small business enterprise can easily avail unsecured business
Read moreHow To Calculate Your Business Loan EMI?
The full form of EMI is Equated Monthly Instalment. It is a fixed payment made from the borrower’s end to the lending institution until the business loan amount is fulfilled. EMI comprises both the interest on the loan and the principal loan amount borrowed. The cumulative sum of the principal and the interest amount is then divided by the tenure of the business loan to generate the EMI due every month. Surprisingly, the percentage of interest in the ‘fixed’ EMI gradually dwindles while the proportion of principal increases after the first few months. Working of an EMI Calculator Business loan
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