Business Loans in India 2020

India is called one of the fastest developing economies of the world and a great share behind this growth goes to the SMEs. In India, there are around 42.50 million registered & non registered SMEs (with investments less than 50 million) from whom the country is getting around ]24.63% of Service sector GDP and 6.11% of the manufacturing GDP. While it is said that SMEs are driving the nation and giving employment to thousands of people, but the biggest challenge they all face in running operations is of finances. From a long time, SMEs of India are hit by poor access to funds/ business loans and the current COVID-19 pandemic has worsened the market situations. Most of the small and medium enterprises like a small restaurants, grocery stores, mobile recharge shop, garments tailor, etc. need funds for sourcing stocks, paying wages, buying raw material and meeting several other working capital requirements. But they don’t get MSME & SME loans provider easily and to overcome thi...

A loan is often helpful for a business, whether small or big, to manage their finances. You can either avail quick business loans for retaining your inventory or for upgrading your infrastructure or for simply boosting your capital expenditure. These personalized business loans always help to improve the business status. However, sometime the method of taking loan and dealing with paperwork is tough but there are several points that you must know before applying for business loan , here we are citing down a few: 1. Understand The Purpose of Taking Flexible Business Loan The lenders might want to assess the viability of your business and would want to know how you’re planning to spend the required funds. For this, you’d have to create a detailed proposal which should include factors like: What is the amount of money you require? How will the sum be used in your business? How will you payback the loan? What is the minimum time period you require for repaying the loan? What if your bus...