5 Myths Busted About Small Business Lending
Business lending is the credit facility availed to meet urgent requirements of a business. With growing accessibility to information available online, many business owners search for business loans online. For every bit of genuinely helpful advice, there is a certain amount of misinformation and myths surrounding business loan online. Unfortunately, this misinformation can give small business owners a false sense of eligibility. Let’s separate fiction and reality! Read on to know five common myths that surround business lending in India. Approval Takes a Long Time The most common question businesspeople have when applying for a business loan is, how fast
Read moreGSTIN To Provide Free Billing & Accounting Software To MSMEs
GSTIN has partnered with some of the Billing and Accounting Software vendors to provide free software to MSMEs in India (Micro, Small and Medium Enterprises). The step is taken after the directions of GST Council. MSMEs having an annual turnover of less than Rs. 1.5 crores in a financial year will be provided this service for free. The facility will be offered to active taxpayers (normal), SEZ developers/ SEZ Units, and taxpayers in India who have opted for Composition Scheme under the GST regime. There are eight software products to choose from. These are available as a downloadable version (which
Read moreWhy Is A Small Business Owner Turned Down For Loans?
A small business owner counts on a business loan to help his business grow and expand. But not every time his loan application is approved by the lender. This can be because of various factors, ranging from low credit score to an ongoing loan on the borrower. It goes without saying that a business owner applies for a loan when he is an urgent need of funds. So, getting the application rejected is not appreciated in this situation. The loan application denial can be avoided if the businessman knows the reasons for the same. Let’s take a look at the
Read moreHow A Small Business Loan Can Be Effectively Used?
A small business loan is availed when the business owner faces paucity of fund to run the business. It guarantees the future of the business by providing additional funds to run the business efficiently. Additionally, the business owner can also help in improving existing strategies. Perhaps, the business owner can also use small business financing to update machinery or hire more employees. In a nutshell, availing a business loan can help in taking the business to the next level. Once a business owner avails a loan, he can use the funds for many activities. That being said, a business loan
Read moreWhich Industries Require A Loan For Business The Most?
A loan for business is a facility that is often availed by many business owners. A business needs funds to keep its doors open for new opportunities and to grow upwards. The funds availed under business loans can be used for numerous other activities as well. That said, there are several industries that require a loan for business more than the others. Let’s take a look at the top 5 industries in India that often require business funding. Telecommunication Telecommunication industry consists of cable companies, broadcasters, and phone companies. India is the second largest telecommunication market in terms of subscriptions,
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