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Table of ContentsDigital Lending Data-Based Informed Decision-Making & Digital UnderwritingTailored Products and Services:Conclusion In today’s fast-paced business environment, access to timely credit is crucial for small businesses to thrive. Thanks to the advent of new-age digital lenders, small business owners in India can now receive loans in as little as 2 days—a sharp contrast to …

Continue reading “The Importance of Data in the Evolution of Lending to Small Businesses”

Table of ContentsHere are five strategic steps for MSMEs to undertake to increase their chances of getting approval for loans: Build strong records through Digital Financial DataPractice Responsible Credit ManagementMaintain a Good Credit ScoreMonitor your recordsDigital Loan ApplicationsConclusion India’s Micro, Small, and Medium Enterprises (MSME) sector forms a crucial pillar of the nation’s economy, employing …

Continue reading “Transparency – a tool for MSMEs to net those elusive business loans”

Table of ContentsIndia’s Retail Landscape: An Overview How Offline Retailers Are Propelling the Industry Forward as MSMEs Digital Transformations to Offline Retail The Future of Offline Retail For years, offline retail has served as a vital component of local communities. MSMEs (Micro, Small, and Medium Enterprises) are intricately woven into the fabric of Indian commerce. …

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Table of ContentsWhat Are Some Challenges MSMEs encounter? Drawbacks to Traditional Lending For MSMEsIs Financial Behaviour Data the Solution? Unlocking Growth Potential for MSMEs through Financial Behavior Data Micro, Small, and Medium Enterprises (MSMEs) lie at the center of development in the Indian economy, contributing one-third of India’s GDP and employing nearly 111 million people …

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Table of ContentsTech innovations: Catalysts of change Technology-driven lending has empowered MSMEs to take a giant leap in transforming their businesses.Positive impactFuture opportunitiesGovernment SupportConclusion Micro, Small, and Medium Enterprises (MSMEs) industry has been a formidable force behind India’s growth during the past decade, thanks to the sector’s near 30% contribution to GDP and emergence as …

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Table of Contents1.Automated loan repayment mechanism::2.Streamlined payment for repayment obligations:3.Increased financial inclusion and flexible cash flow management:4.Enhanced security:Digital Payments to Continue Enhancing MSME Credit: Digital payments have revolutionized the financial landscape in India in recent years, propelled by a burgeoning fintech ecosystem and the government's push for financial inclusion. The recent NPCI data 1 reveals …

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Table of ContentsFinTech in the driving seat of quick loan journeysTech Tools Are the Key IngredientDigital Lending Becoming Mainstream for India’s MSMEsThe road ahead In today’s digital era, consumers expect the highest level of service – be it their food or grocery delivery, ticket bookings, cab bookings, and even their financial needs. ‘Speed’ has become …

Continue reading “Tech As the Enabler of Fast Loan Journeys for MSMEs”

Table of Contents1.Tailor-made products:2.Innovative lending models:3.Paperless and contactless lending:4.Assistance to businesses without credit history:5.Colending partnerships: Raising capital has been a challenging task for medium and small businesses in India and the last two years have been a reminder of the existing credit gap in India’s MSMEs sector. As per IFC estimates in 2021, the total …

Continue reading “5 Ways FinTechs Can Help MSMEs Solve Their Creditworthiness Issues”

Table of ContentsRole of digital payments in MSME digital lendingFuture of Digital Payments Based MSME Lending After demonetization, the COVID-19 pandemic has been a major accelerator for the mass adoption of digital payments among consumers and merchants. The volume of digital payments has been increasing year-on-year with 7422 crore transactions in FY 2022, up by …

Continue reading “How digital payment adoption is re-writing India’s MSME Credit Story?”

Table of Contents1: High intensity of loan build-up:2: Guaranteeing a third-party loan:3: Not monitoring and updating the credit report:4: Applying for loans from multiple lenders:5: Restructuring of a loan: For new business owners looking to set up their business or an MSME wanting to explore new business opportunities for scaling up, it is necessary to …

Continue reading “Five Mistakes That Impact Your Business Credit Score”

Table of Contents#1: Keep outstanding debt in check#2: Ensure lower credit utilisation#3:  Long-term credit history means a trustworthy business borrower#4:  Monitor your credit report frequently#5. Get your business registered Whether you’re a new business owner looking to kickstart your operations or a well-established small or medium enterprise wanting to expand your business, strong creditworthiness is …

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Table of ContentsAdvantages of digital paymentsHow do digital payments work?Parties InvolvedWorking of Digital Payments SystemBottom Line Digital payments are payments done through digital or online modes, with no exchange of hard cash being involved. Such a payment, sometimes also called an electronic payment (e-payment), is the transfer of value from one payment account to another where …

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Table of ContentsWhat is a Secured Loan?Benefits of Secured Business Loan Disadvantages of Secured Business LoanWhat is Unsecured Business Loan?Benefits of Unsecured Business LoanDisadvantages of Unsecured Business LoanIn a Nutshell A business loan is a sort of debt that is taken by a person or a company. The lender, which is usually a corporation, a financial …

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Table of ContentsWhat is a Cheque?What is a Cancelled Cheque?How to write a cancelled cheque?Uses of a Cancelled ChequeIn a Nutshell What is a Cheque?   A cheque is a promissory note that instructs a bank to pay a specific quantity from the drawer’s bank account to whomever the cheque is issued to or to …

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Table of Contents1: Understand your cashflow dynamics2: Review & update your financial plan regularly3: Seek help from an accounting professional4: Keep your growth finance calculations ready5: Reduce your Debts6: Select a suitable business loan7: Automate your bill payments8: Increasing Market Awareness9: Protect your business against fraud10: Go Paperless with your company 1: Understand your cashflow …

Continue reading “10 Financial Habits Business Owners Should Have”

Table of Contents1. Balance Sheet2.  The Cash Flow Statements3. Income Statement or Profit & Loss ReportConclusion If your company is in urgent need of cash, one of your greatest options is to apply for a small business loan. There’s only one concern: securing a small business loan might be difficult. Lenders want to minimize the …

Continue reading “3 Financial Reports to Run Before Pursuing a Business Loan”

Table of ContentsMyth 1: Only banks can provide business loansMyth 2: Small businesses cannot apply for larger loansMyth 3: If you ask for too much money, you will get rejectedMyth 4: Loan applications are time-consumingMyth 5: Only failing businesses need a loanConclusion Starting a new firm, or simply progressing to the next step of expansion, …

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Table of ContentsWhat is eKYC?eKYC EligibilityHow does eKYC work?eKYC DocumentationVerification options using eKYCAdvantages of eKYCConclusion What is eKYC? eKYC full form is electronic know-your-customer, and it is a regulatory policy that has been established and implemented around the world to combat identity theft, fraud, and money laundering. Before making a transaction or accessing financial services …

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Table of ContentsWhat is GST?GST BillHow is GST Calculated?GST CalculationAdvantages of GSTDisadvantages of GSTConclusion What is GST? GST was first mentioned in India on February 28, 2006, Budget Speech. It set the basis for a total rebuilding of India’s indirect tax system. The Goods and Service Tax Act was passed in Parliament on March 29th, …

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Table of ContentsStep 1: Come Up With a Proper Business PlanStep 2: Determine How You Want To Use Your FinancesStep 3: Calculating The Amount You NeedStep 4: What Is Your Credit Score?Step 5: Verify Credit ReportStep 6: Check Out All Your Lending OptionsStep 7: Preparing Financial StatementsHow Does This Help?Conclusion The demand for business loans …

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Table of Contents5 Reasons Why a Business Loan Application Gets RejectedInsufficient Cash FlowExisting Heavy DebtLow Credit ScoreIncomplete DocumentationNot Matching Other Eligibility CriteriaThings You Can Do to Increase the Chances of Business Loan ApprovalImprove Your Cash Flow StoryPlan a Healthy DebtBuild Your Credit ScoreComplete the DocumentationConsider the Lender’s Criteria A business loan is a legal agreement …

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Table of ContentsIs Udyog Aadhar Card Compulsory?Process of Udyog Aadhar RegistrationBenefits of Udyog AadharConclusion The Udyog Aadhar Card registration process was initiated in India by the government for boosting small and medium businesses. Udyog Aadhar (also known as Aadhar for business) is a unique 12-digit Unique Identification Number provided by the ministry of MSME for …

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Table of ContentsWhat Is the Eligibility for Mudra Loan?Can I Apply for Mudra Loan Online?In Conclusion The small businesses of the 21st century have a lot going on. Due to the continuous cycle of ups and downs of the economy, running small and mid-sized businesses (SMBs) require more focus and innovation – which translates into …

Continue reading “Top 5 Government Loan Schemes for Small Businesses in India”

Table of ContentsYou can build a brand presenceYou will Instantly Increase Your SalesYou Expand Your Target MarketEverything is MeasurableImprove Your Customer ServiceHave More Time to Focus on Your Business Author: Mr. M.D Saif Ali, NOWFLOATS Take a moment to think about how often you have Googled the nearest coffee shop or restaurant when you are out …

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Table of Contents5 Reasons Why the App is Just What You Need1. 24x 7 Detailed View of Your Loans2. Real-Time Access to Financial Documents3. Easy-Pay, On-the-Go!4. Seamless Navigation, High User-Friendliness5. Speedier, Smarter Way of Loan ManagementSay Yes to the App!Download App Our web portal became a one-stop solution for SMEs looking for collateral free business …

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Table of Contents1. Wave2. Akaunting3. TurboCASH4. ZipBooks5. SlickPie6. Zoho Invoice7. CloudBooks8. GnuCash9. xTuple PostBooks10. BrightbookFinal Thoughts One of the most consequential reasons why small businesses fail is because they lack sufficient means for money management and bookkeeping. Since most of the small businesses owners are solopreneurs , things can get hectic, and it becomes natural to miss something out. Of …

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Table of ContentsWhat Are the Criteria for Business Loan Approval?How to get loan Approved?What to Do If My Loan Application Is Rejected? Is It Better to Apply Online or in-Person?Is There a Best Time to Apply for a Loan? In Conclusion If you are an SMB (small and midsize business) owner, you will always need a considerable …

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Table of ContentsHow Google helps to create an online brand ?How to target customer on Google ?How to promote your business on WhatsApp ? We are living in the age of digitalization where internet-based tools & platforms have become a new normal for promotion of every business. Google & WhatsApp Business tools enable you to …

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Table of ContentsSocial media marketing Digital marketing Advertising on Facebook Social media marketing is the use of social media platforms to connect with your customers to build your brand, increase sales, and enhance customer-base. Social media marketing is a powerful way of promotion for businesses of all sizes. Your customers are already present on social …

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The vision of Digital India has seeped in into the daily life of citizens of our country and has given emergence to several digital platforms over the years; digital payments being a prominent one. Digital payments are technically defined as any payment made using digital instruments. In digital payments, the payer and the payee, both …

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Table of Contents1) Balanced classification of MSMEs2) Collateral-free loans for MSMEs3) Financial aid for MSMEs classified as NPA4) Focus on domestic firms for Government contracts5) Restructured Provident Fund norms for employees While most businesses across the world and across the country are dealing with lock-down, the governments are taking all the necessary steps they can …

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Table of ContentsIntroductionWhich Saving Scheme is Best in the Post Office? In How Many Years will FD Double in the Post Office?What is the Interest Rate for the Post Office Savings Account?What is the Agent Commission in Post Office Schemes?Is Post Office FD Safe?Are Post Office Schemes Safe?How can I Double my Money in Five Years?How …

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Table of ContentsWhat makes a public provident fund so popular? How does a PPF account work? Account maturity: Closure of the account: Keep the investment blocked for another 5 years: Keep in mind: Benefits of a Public provident fundCan a person have more than 1 PPF account? Features of PPF accounts:What is the age limit for PPF accounts? What are the new rules …

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Table of ContentsIntroductionWhat is a National Savings Certificate?  Is NSC a Good Investment?  How Do I Get a National Savings Certificate?  Is the NSC Maturity Amount Taxable? How Many NSCs Can One Buy?  Is TDS Deducted on NSC?Can I Buy NSC Certificates Online?Is PPF Better Than NSC?Is NSC Safe? Can NSC be Opened in Bank?  How Can …

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Table of ContentsPartnership Deed – MeaningWhat Is a Partnership Deed? Is Partnership Deed a Contract?The Necessity And Importance Of a Partnership Deed Does the Partnership Deed Require Registration? How Are Partnership Deed Amendments Made? Types of a Partnership Deed Partnership Deed – Meaning A partnership is a kind of business in which the business partners …

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Table of ContentsIntroductionWho Pays Corporate Taxes in India? Is Corporate Tax and Income Tax the Same? Who is Eligible for Corporate Tax in India? Sources of Company IncomeHow is the Corporate Tax Rate Calculated? How Much is the Corporate Tax in India?How to File an Income Tax ReturnThe Corporate Tax Rate in India 2019Will My Credit Score Improve After …

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Table of ContentsAll You Need to Know About the Provisions of Section 80D of the Income Tax ActSection 80D and Medical EmergenciesRate of Tax Deduction Under Section 80DSingle-Premium Medical InsuranceConcluding Notes All You Need to Know About the Provisions of Section 80D of the Income Tax Act Section 80D of the Income Tax Act allows …

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Whether your business is a startup or if you’re ready for expansion, you need funds to power your small business. But before you seek for a loan, you need to plan about exactly how you’ll use your loan amount and how you’ll pay it off. So, that you don’t fall into a situation where you can’t pay off an unsecured business loan. Without a strategy on how to put the money to work, you’ll take up a loan that might become a burden on your shoulders.

Whether your business is a startup or if you’re ready for expansion, you need funds to power your small business. But before you seek for a loan, you need to plan about exactly how you’ll use your loan amount and how you’ll pay it off. So, that you don’t fall into a situation where you can’t pay off an unsecured business loan. Without a strategy on how to put the money to work, you’ll take up a loan that might become a burden on your shoulders.

A business owner knows how crucial it is to source new leads and make sales for the growth and success of the company. And many small business owners often wonder if there is any strategy which can help boost sales.

In this decade, India has moved on from a male-centric society to a place where businesses and entrepreneurship are not defined by genders. Women have risen above the confined domestic life, took challenges, faced struggles and made their way to the top list of women entrepreneurs. Some of them had only a little or no experience in the industry they chose, but they learned to overcome the knowledge barriers as they grew.

As a small business owner, you may constantly be looking for new ways to market your products/ services to reach potential customers. Using social media for business is a great way to engage with existing customers and attract new ones. Small business owners can have a lot on their plate, and may find social media time- consuming. Having said that, you cannot lose the opportunity to reach and engage with your potential customers.

In this era, your business loan can be approved with a few swipes on your phone or by spending a moment online. So, why tussle through the hassle with the bankers? 

When you decide to begin your entrepreneurial journey, you prepare for the courage to take on many challenges. Though eventually, these struggles will pay off pretty well, you need to persist in daily business operations. All are aware that half of the businesses fail within three years, that’s why even the banks ask for the business proof of past three years. All, however, don’t know that about 20% of businesses disappear within their 1st year.

Many successful entrepreneurs started their entrepreneurial career by quitting their already existing job in a leading company. If you have plans to start your own venture or grow the existing one, taking a short-term loan might suit your foreseen goals. Also, loans are easily available these days since the rise of digital lending in India. However, to choose the right short-term business loan, you need to know about things like rate of interest, processing fees, repayment, down payment etc.

Every month, banks and financial institutions send information about individuals and businesses to the TransUnion CIBIL Limited, commonly known as Credit Bureau. This information helps the Credit Bureau to evaluate your financial situation. They are licensed by the RBI and by Credit Information Companies (Regulation) Act of 2005.