Business Loan

India’s MSME sector is an important pillar of the Indian economy. There are about 6.3 crore MSMEs producing more than 8000 products and contributing around 30% to the GDP of the country. The Indian MSME sector contributes significantly to employment, providing 45% of the total employment.

Businessmen need funds to establish their businesses. Once their business is established also, they need working capital for expansion, sales, day-to-day operations, and so on. However, if you are a businessman, you need to choose a credible lender to take the business loan.

Business loans have been a workable option to firms for a long time. You can use these loans for a variety of reasons, such as expansion, to augment the flow of funds, for day-to-day business operations, and so on. There are different types of these loans available in the market, and you can get one for the amounts desired (small or big).

Business loans provide you with financial aid to expand your venture and meet your day-to-day expenses. Once you get the business loan, it becomes a routine for you to pay off your EMIs, and you will not think about altering its terms and using it in a better way.

Are you looking for a business loan in India but are unsure about the best banks to reach out to? Here is a table with the latest business loan offerings, interest rates, loan amount, and tenure from some of the best banks in India.

In an era of lightning speed advancements accelerated by technology and urbanization, there is an evident shift towards a concrete urban setup in India. As the country witnesses faster infrastructural development, construction companies are thriving and expected to grow exponentially in the near future

Getting the right amount of funding at the right time is very crucial to a small business. Small-scale manufacturing and service sectors require ongoing financial support to meet their working capital needs and long-term asset purchase objectives.

Facebook India has tied up with financial technologies start-up, Indifi, to offer loans to small business owners, as part of its ‘Small Business Loan Initiative’. SMBs in over 200 cities across India can now avail of loans of up to Rs.50 lakhs to help develop and grow their small business.

A business loan can be obtained from a bank or NBFC in order for a business to raise sufficient capital and establish itself or attain further growth. The interest rate on business loans is usually based on the amount borrowed and the repayment period sought.

Making a business loan application can be a challenge, especially for small & medium-sized businesses. It is often time-consuming and requires efforts on the part of the business owners or promoters.

A start-up is a firm established by one or more entrepreneurs with the purpose of creating a unique product/service, with early money pooled in by the founders/family/friends. Various startups in finance, education, pharma, e-commerce and related fields have sprung up in recent years and contributed tremendously to the Indian economy by providing millions of jobs to educated youth across the country.

The ongoing Coronavirus pandemic has disrupted public health and the economy to a great extent in India, with many businesses closing down. The financial burden of people has also increased, with many looking at loans as an alternative medium to sustain their financial needs.

The Government of India has initiated various government-backed business loans for funding support to individuals, business owners, SMEs and MSMEs engaged in Trading, Manufacturing and Services activity.

Kirana stores have been a common feature in every nook and corner of India for a long time. The 2nd Covid wave in India has once again brought about lockdowns which have resulted in the closing of business establishments across various parts of the country, except for essential shops which are allowed to remain open for limited hours during the lockdown.

Small businesses need constant requirements of funds and a steady cash flow for their day-to-day business activities.

The data provided by the Ministry of Statistics and Programme Implementation compiled in the Sixth Economic Census, states that 14% of entrepreneurs in India are women entrepreneurs, which is equivalent to a whopping 8.05 million women entrepreneurs.

Many entrepreneurs get jitters when we talk about loan repayment. They consider it to be highly complicated and need meticulous planning to repay the business loan. It is rather a matter of disciplined debt management and financial planning that are required to pay off your business loan without a hitch

Business loans are required at various stages of business activities like expansions, purchase of working capital, equipment etc., so as to maintain consistent cash flow for ensuring smooth business operations. Business loans carry an interest charge which is deductible as an expense from your gross income.

If you have recently thought of a business idea, chances are, that you may have come across the term business roadmap. While it may sound like an easy-to-make business plan, a business roadmap is a strategic document that charts out your company’s long-term direction and the steps needed to get there. It is a broad guideline - unlike lengthy business plans, it is not about fine details but the big picture.

Business loans are essential for any business operations especially if it is ready to expand or has many market opportunities available to explore. While availing a business loan may sometimes be tricky, especially if it’s a new business, there are many ways in which it can be easily sought.

The government of India recently extended the Emergency Credit Line Guarantee Scheme (ECLGS) for Micro Small and Medium Enterprises (MSMEs) by one month until 30th November. This extension was announced by the Union Finance Minister via a series of tweets posted on Twitter.