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Home loan interest keeps increasing and decreasing with time. You get a loan with a lower interest from one financial institution at a given time. However, amidst the tenor of your loan, you come across another loan with much lower interest. In such case, home loan transfer can really save you from paying high interest for your loan. However, it is important to choose the right lender with less rigid terms and conditions. In this process, the new lender agrees to take over and finance your home loan by paying the outstanding amount to your existing lender. After receiving the pending amount, the current lender is obliged to issue the borrower no dues certificate along with the released documents. The released documents are then submitted to the new lender. After the paperwork is over, the borrower is now supposed to pay EMIs to the new lender. This process is also called refinancing home loan.  The major advantage of home loan transfer is that the borrower is free from paying high interest rates. Instead, the borrower can make his/her EMIs more affordable with lower interest rates. With lower interest rate the borrower can save enough money for other purposes like prepayment of a part of the home loan.
Reference Read: 4 Advantages of a Refinancing Your Home Loan
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Working Capital (WC) is essential for the smooth functioning of all the day-to-day activities of a business. It primarily consists of two concepts, Gross Working Capital and Net Working Capital. Before moving on to the two concepts in detail, let us know about WC elaborately. What do you mean by WC? It is that part of a business’ capital which meets daily cash requirements. It includes cash-in-hand, bills receivable, bills payable, inventory, short-term investments, marketable securities, etc. As mentioned, Working Capital can be further divided it into Working Capital and net working capital. Gross Working Capital (GWC): It is a broader term that covers all the current assets of a business. You can say the total amount of current assets without counting the current liabilities is called GWC.  However, this cannot give an accurate picture while calculating the financial position of a business. It is because GWC is the total of available current assets without any deductions for any liabilities. The company may have to meet a lot of current expenses before arriving at the actual assets that will stay with it. For example, you have borrowed an amount of Rs. 50,000. It increases the current asset of the company. Moreover, it is also a current liability of the company which needs to be paid in the short-term. Thus, the gross calculation of working capital is not an accurate reflection. Taking a working capital loan is a good way of introducing fresh capital. Financial institutions like Bajaj Finserv offer business loan designed explicitly for WC requirements of business apart from meeting other needs. You can use this loan to fill up business loan requirements. It will reinvigorate your company to a stable financial position. So, now with the concept of net working capital cleared, take your business towards growth. Calculating your home loan EMI before buying a home is an essential prerequisite. This helps people i.e. potential loan applicants improvise their repayment plan as per their repayment capacity which further makes repaying easier. If you believe it makes sense, here’s how you can calculate your monthly EMIs. 1. Manual Calculation: Before the arrival of EMI calculators, bank officials used to manually calculate the applicable EMI themselves. So, if you don’t trust technology and want to take the matter in your own hands, you can use the formula and do it yourself. The mathematical formula for calculating EMIs is: EMI = [P x R x (1+R)^N]/[(1+R)^N-1], where P stands for the loan amount or principal, R is the interest rate per month. That said, if you do trust technology and want to get done with EMI calculation quickly, below is how you can use a housing loan EMI Calculator.  2. EMI Calculator Formula: Home loan EMI calculator is an online tool and it is quite like your everyday calculator. The only difference is, this particular calculator is pre-equipped with EMI formula.
How to Use Home Loan EMI Calculator? The simplest way is to navigate to online calculator page and fill in the required details: (1) Loan amount, (2) interest rate, and (3) tenor of investment. Once you are done with sharing these details, click on ‘submit/ calculate’ button and you’ll get the required results along with your repayment schedule. Reference Read: The Different Methods of Calculating Home Loan EMI If you have an equipment manufacturing business in Jamshedpur which hasn’t been doing good from some time, there are three things you need to ask yourself:-
 The eligibility criteria for business loan in Jamshedpur is quite simple to follow:-
Read Also: Grow Your Equipments Manufacturing Business in Jamshedpur with Bajaj Finserv Most people in India opt for a home loan when purchasing a property. Despite the financing, many individuals still have to pay a lot of money from their savings in order to fund the margin amount. However, many individuals still find themselves in need of some extra money to meet the expenses of their property. To finance such needs, there is what is known as a Top Up Home Loan. What is a Top-Up Loan? This is an additional loan amount that one receives as a loan over and above the existing home loan. Different lenders have different minimum qualifying period for which the existing home loan should run before one become eligible for a top-up loan. Lenders can also insist on the construction of the real estate to be completed before the top-up loan can be availed.  Furthermore, your payment record of the existing home loan must be good for the lender to fund a top-up loan. This is because no lender will sanction additional funds when the existing loan is already at stake.
However, if under any circumstances, your existing lender is not willing to provide you a top-up loan, you can approach another lender for a top-up loan. In such a case, you will have to comply with all the formalities, eligibility criteria and submit a fresh set of documents as per the requirements of the new lender. Amount of Loan and Period of Repayment The amount of top-up loan that you stand to receive varies from one lender to the other. However, most of them just calculate your overall loan eligibility by taking into consideration your present income and the current value of your home. Read Also: Want a Top-up Loan? Here's Everything You should Know The repayment tenor of the home loan also varies from one lender to the other. Although, most lenders provide a tenure which is the same as the tenor of the home loan. This ensures that both the home loan and the top-up loan are paid on time. A home that you can call their own is a dream almost every individual fosters. But, this dream becomes possible only if the person has the required repayment capacity and a good CIBIL score. CIBIL score plays a crucial role in almost all credit application approval process. Thus, people have to ensure their credit score is up to the mark in order to get approved easily at the lowest home loan interest rate. If you have a poor credit score, your chances of getting approved goes down. Though you can always postpone your loan application and boost your credit eligibility before re-applying.  If you need some help with the tips to boost your CIBIL score, below are a few you can check.
Quick Tips to Improve your CIBIL Score Ensure a spotless credit history: First and foremost, your credit history needs to be spot-less. Make it a habit to check your CIBIL score every once a year to keep an eye on wrong remarks in your report. If you identify an error, get them corrected before they affect your score. A good credit score is inevitable: Secondly, a credit score of 750 and above is an inevitable need. Therefore, there’s no debate on that and hence, avoid late payments, overusing your credit cards etc. Keep a balanced credit portfolio: Lastly, avoid taking single type of credit scheme - ensure a balance. Taking either secured or just unsecured loans regularly might highlight your credit hungry behavior. Hopefully, the above mentioned tips will help to enhance your CIBIL score for quick Home Loan approval, and always check your home loan eligibility before applying for it. PMAY or Pradhan Mantri Awas Yojana is a scheme aimed at providing housing for all at affordable rates along with electricity and water supply. It offers financial support to people with low income and for those belonging to EWS. But apart from all these benefits, first-time buyers can save more with PM Awas Yojana as follows: Subsidized Interest Rates When beneficiaries take a loan with a total amount less than Rs.6 Lakh, the government offers a subsidy of 6.5 percent on it. Moreover, the government provides a subsidy of 4 percent and 3 percent on the loan amount up to Rs.9 Lakh and Rs.12 Lakh for those whose household income comes within the bracket of Rs.12 Lakh and Rs.18 Lakh respectively.  Long Tenures
Beneficiaries are given ample repayment time which was extended from 15 to 20 years. This enables them to pay a low an affordable EMI. No Processing Fees Financial institutions do not charge processing fees for the applications which are filed under CLSS. Tax Exemption Since the main aim of Pradhan Mantri Yojana is to provide housing at affordable rates, beneficiaries are exempt from tax to a certain extent. Tax exemptions can be as high as Rs.1.5 Lakh on the principal amount and Rs.2 Lakh on the interest amount. Preference for Minorities This scheme gives preference to women, widows, transgender people, differently abled, single-working women, people belonging to scheduled castes, scheduled tribes, and backward classes. Beneficiaries can now avail for all these additional benefits apart from the standard advantages of the scheme and get housing at affordable rates. Reference Read: First Time Home Buyers can save more with Pradhan Mantri Awas Yojana Running a business is never easy, and sometimes it takes years to establish it. The next phase is growing the business which again is extremely challenging. But the fact that you have already established your business is an indication of your ability to develop it further. Here are some tips to grow your small business loan in Alwar. 1. Conduct client surveys Regular surveys let you acquire thorough knowledge about the market. Unless you know where your service lacks from the customer’s point of view, you will never be able to expand or improve your business. 2. Create marketing strategies You cannot reach a bigger audience and grow your business without coming up with efficient and innovative marketing strategies; along with full-proof plans. Set goals and ensure that you have all the resources to reach that goal. You can manage this cost by availing for an online business finance  3. Knowledge of emerging technology
One of the best ways to grow any business is to incorporate the latest technologies. You can double your profit and reduce the effort you put in by being up-to-date with the emerging technologies and knowing which ones will help your business grow. 4. Communication Your business works mainly because of the employees, and having a good communication lien with them allows the flow of new ideas and upcoming opportunities. 5. Think of efficient sources of finance Growing your business also means needing additional finance. Many NBFCs offer a business loan in Alwar. This business loan doesn’t require much documentation and has easy-to-meet eligibility criteria. These are five tips to grow your business in Alwar. Make sure that you consider these points and approach an NBFC offering a business loan with customized facilities for your business. Read Also: How to Grow Your Electrical Business in Alwar Exactly a decade ago, home loan interest weren’t exactly the same as they are now: buying a home using a loan was quite an expensive task with people having barely enough to afford their livelihood comfortably. This goes without saying for people who even thought about buying a property in 2008 - the year of Great Recession when Indian trade sector had almost collapsed, and people were losing their jobs. On contrary to that, home loan interest rates are much lower. In fact, the interest rates are the lowest compared to the previous decade or even previous year. Besides, housing loans offered these days are in accordance with MCLR lending system which dictates banks and NBFCs to offer the lowest rates possible. Therefore, there are chances people who took a home loan before (when the rates were soaring high) would be in the lookout for tips and tricks to reduce their obligations. For them, the Indian banking and finance sector has home loan balance transfer which, as the name makes it look like, allows existing subscribers to switch their loan from their existing lender to a new one.  How does this process takes place and what are the benefits?
Once you apply for balance transfer, your new lender will talk to your existing lender and get your loan foreclosed. The foreclosure amount so paid by your new lender becomes your principal debt and you’ll be repaying that including the applicable interest on that amount. Doing this will instantly reduce the payable interest component and hence, your overall liability. Reference URL: Revise your Home Loan with Balance Transfer There are a number of states in India which offer a variety of benefits to women home buyers. This is being done to encourage more number of women to become the owners of their own homes. Thus, if you are married, it will be more profitable for you, if you purchase property in the name of your wife. Apart from enjoying the lowest housing loan interest rates, there are a number of other benefits which can be enjoyed. There are a number of benefits of buying a property in the name of your wife, a few of which are as follows - Lower Interest Rates Most borrowers do not know about this but women actually enjoy a lower interest rate. The extent to which the interest rates for home loans are subsidized varies from one lender to the other, but usually varies from 0.005% to 0.1%. These figures may look small but in the long run when your expenses can rise, these lower interest rates can greatly aid in planning your finances better repay back your loan more easily.  Access Higher Value Loans
Another added benefit of women applying for home loans is that they get access to higher value home loan more easily. This is because the eligibility criteria is less strict for them. Thus, irrespective of the lender, be it a conventional financier or an NBFC (Non-Banking Financial Company), women can look forward to higher value loans. Reference Read: Affordable Home Loan Rates for Women - Know the Benefits A commercial loan comes in handy for urgent business fund requirements – it’s not rocket science. However, the big deal is to obtain the loan easily, swiftly and economically. Thankfully, there are lenders to take care of your loan requirements, helping you to focus solely on business lines. Take for instance Bajaj Finserv, India’ leading and most diversified Non-Banking Financial Company (NBFC) with a solid record of reliability, efficiency and customer satisfaction. While banks and other financial institutions deny business loans to start-ups due to their short history, Bajaj Finserv is flexible with its policies. Any start-up operating legally for the past three years is eligible for Bajaj Finserv business loans up to 30 lakhs. However, an income tax return for the previous 12 months is mandatory. The NBFC also provides hassle-free unsecured loans where the need to pledge collateral or produce guarantor is eliminated outright.  Bajaj Finserv is keen on creating convenience and time saving for customers, which speaks for an easy, simple and efficient loaning process of commercial loan. The only requisite is an application backed by identification documents. The application is approved immediately and the loan amount is deposited in the applicant’s bank account in 72 hours or less. The loaning experts walk each customer through the entire process and are happy to answer his/her queries.
The account management is also convenient and time efficient, thanks to Bajaj Finserv online custom web portal that keeps the client on top of due EMIs. When it comes to interest rates, Bajaj Finserv offers customers a clear advantage. The interest rates are lower at this NBFC vis-à-vis any financial service provider in India, making it the go-to option for commercial loans. Also Read: Where to Get a Commercial Loan for Business at a Low Rate? For decades, self-employed professionals or start-up founders have been struggling to secure sufficient business funding through banks and NBFCs. One of the primary reasons which can be attributed as the root cause of this problem can be the uncertainty and lack of stability associated with self-employed professionals. As known to all, self-employed individuals don’t have a stable income nor certainty. Thus, their repayment capacity always comes with a question mark. However, with the dawn of NBFCs, the problem is no longer insoluble. A self-employed individual or a business owner can turn to personal loan to start a business and meet their various cash needs. The only question is whether they should or not? If you have the same question, let’s find an answer together. 
Planning to settle down in Pune? Finding the right location might not be enough. You may want to scour different societies such as Ganga Legend in Bavdhan and choose the one that suits your budget and expectations. Here's how you can do that.  Availability of Amenities: The first and foremost is the amenities offered! Since most of us stuck with the 9 to 5 work are likely not to go out to enjoy our weekends, having a pool or a gym inside your society would be great. If you are on the same page, look for such amenities while buying a flat in Pune.
Maintenance Cost: India has a plethora of housing options starting from regular 2BHKs to luxury and super luxury homes. Now, each one of these properties come with an additional, probably life-long charge known as maintenance cost. The more luxuries you seek in your home, more will be the maintenance cost. Power Back-up: Power cuts might be a frequent phenomenon in some cities but not in Pune. That said, you must never take chances and ensure the residential society you choose to live in offers 24X7 power back-up. Safety: Also, make sure the flat you buy comes with on-premises security staff and other safety parameters such as CCTV cameras etc. Parking Space: All of us owning a car or a bike are aware of the physical and mental turmoil one has to go through finding parking space. This goes without saying for metro-residents wherein carjacking is very common. Thus, having a parking space within the premises of your residential society is a must. Read Also: How to Find the Best Society to Buy a Flat in Pune Bottom Line: Last but not least, make sure the flat you’re buying is RERA-verified. It makes it easier for you to get a home loan for financing your purchase. Rapid advancements in technology has ensured that one does not have to go through the time consuming process of applying for finance. Now, one can easily research about the lender and their loan offers in a matter of minutes. This gives them time to browse and compare offers and easily apply for then too. Let’s understand the benefits of this process.
Additional Read: Switch To Loan App Online And Apply For Instant Finance For a long time now India has been reeling under a healthcare crisis. To a great extent this has been largely responsible owing to the ever expanding population and a dearth of doctors and proper infrastructure.
As we cannot curb the problem of doctors or of population overnight, we must find ways of mitigating the problem with the existing resources. One of the best ways of doing so is to provide help to the doctors who are working day and night to provide quality healthcare. If they have the proper infrastructure, then more number of people will be benefited. However, such measures require financial assistance and this is why financial institutions such as NBFCs (Non Banking Financial Institutions) have come up with what is known as physician loans. Doctors can use these loans in a number of creative ways, a few of which are as follows - Electronic Health Records Most of the patient records in our country is on paper and very poorly maintained. Moreover, they are not detailed to the extent which they should ideally be. This is usually witnessed when a patient is transferred from one hospital to the other and the only record that is available is the discharge summary. If electronic health records are use, then it will cut a lot of maintenance costs which are usually incurred in the upkeep of the patient records. It will also speed up the healthcare provided and as the past medical history will be readily available, the care provided will also be better. Medial Applications There is an app for almost everything today, then why not use one for medical purposes? A medical app will help doctors keep track of the condition of their patients and also examine their reports instantly. To know more about the other ideas for doctors, click here: How Doctors Can Use An Innovative Approach To Solve India’s Heath Care Crisis Irrespective of the type of business that you do its size, at some of time or the other, you will surely require a working capital. While large organizations have large reserves of cash which they can make use, it is not possible in the case of SMEs (Small and Medium Scale Enterprises). As they do not have the backing of a large capital, they need to opt for working capital from lenders one of which is business loan. It has a number of benefits, a few of which are as follows - Funds Short Term Needs Not only are working capital loans easy to secure, but they also help in meeting the short term targets. They also have a flexible repayment tenor which helps in planning the payments better.  No Collateral Needed
It is not always possible for small sized businesses to have the assets to pledge in order to obtain a loan. In such a case, a working capital loan can be of immense help as it does not require any collaterals saving the borrower from the hassle of finding an asset to pledge. Easy to Apply Most individuals do not have the time or patience to make multiple visits to the branch of the lender. This is why most financial institutions these days have made the loan application process online. As a consequence, not only is the application process easier, but the funds are also disbursed more quickly. Read Also: Need A Shot Of Capital For Business Growth? Here’s How To Find A Working Capital Loan A top up loan is an additional loan on your existing home loan. This is useful finance which helps to meet additional financial needs. For instance, once you buy the house you may want to get it renovated or have the boundaries extended, build additional rooms etc. for which you may require more funds and top up loan does exactly that. If you ask any financial advisor if you must opt for a top up loan there answer would Yes. This is because it offers host of benefits to borrowers saving them from the hassle of reapplying for a fresh new loan. 
Reference Read: Want a Top-up Loan? Here's Everything You should Know If you already have an existing home loan then going for a second one could be a time consuming process in terms of financial planning. You not only need to make the new loan instalments are accommodated for but also ensure that the existing home loan EMIs do not get hampered, in any way. This will help to build a reliable payment history thereby improving your credit score, in the long run.  Here’s what you must consider before taking the decision to buy a second home on EMI -
Lender: since, this is the second time you are in need of finance you can choose to get the loan from the same lender. This is because they are familiar with you and your loan profile and can give you better offer on the loan. Payment History: if you have been paying off the existing loan well then you have all the more reasons to opt for second loan. The reliable payment history will add up to your credit score and ensure you get the second loan on better negotiated terms even if you wish to take it from a new lender. Debt-to-income Ratio: before applying for a new loan you must evaluate the monthly dues on the home finance. This will help you easily pay off both the loans without experiencing a cash crunch or having to compromise on your lifestyle. Loan Structure: get yourself educated about every aspect of the loan offer. For instance, the prepayment, foreclosure, relaxation in paying up monthly dues etc. this will allow you to have the loan structure customized as per your needs to make the most of it. Read Also: More than One House? Here’s How You should Plan your Home Loan EMI As of now, there are two variants of housing loan offered in India: floating interest rate loan and fixed interest rate loan. Though both of them are based on MCLR system of lending, there’s a huge difference between the two. Hence, it becomes a bit difficult for first-time home buyers to make the right choice. So, how can you decide which home loan rates type is better one? Read on to find out the answer. Pros of fixed interest rate home loan:-
Cons of fixed interest rate home loan:-
 Perks of floating interest rate home loans
Cons of floating interest rate home loans
Summing up, both fixed and floating interest rates have their own benefits and pitfalls. Thus, selecting an interesting type is always a personal choice as one should opt for one depending on his/her current income, existing debts and more. Reference Read: Floating vs Fixed Rate – Which Interest is Best for Home Loans According to a recent report, it is claimed that home loan balance transfer by borrowers has increased by 20% of all the mortgages sanctioned. One of the major reasons being that this is a cost effective move which gives some breathing space to borrowers. So, the question arises when is it a good time to opt for balance transfer facility? Usually, as home loan is a long-term commitment for borrowers the transfer helps especially if the loan has been taken at a higher rate of interest. So, in case where there is still ample time left to pay the loan borrowers can apply for transfer and in the process save substantially. If you ask me is it a good move? My answer would be Yes. especially today when the REPO rate has been hiked and home loans have become costlier.  If you are thinking of switching your home loan lender, read on -
MCLR Linked Home Loan: the transfer is a good option for home loan on high interest rate with MCLR plus spread. For borrowers who have taken the loan say in May 2016, when the MCLR lending kicked in, the banks reset the interest rate after 12 months. So, as per the reset dates borrowers can opt for balance transfer on their home loan. Base Rate Home Loan: borrowers with home loan on base rate can either switch to MCLR loan or get the loan refinanced. Where, such borrowers can switch to the same lender’s MCLR anytime by paying a certain fee and signing a single page document. Even if they switch to a new lender it can be done without any waiting period. Actually, the differential between base rate and MCLR is quite wide, so it simply makes sense to switch to MCLR of the same lender or another lender who offers lower rates of interest. Read Also: Revise your Home Loan with Balance Transfer Expanding your manufacturing business is one of the most challenging aspects when establishing your business. Of the many challenges, one of the most necessary requirement is that of capital to cover the expenses incurred in expansion. These expenses can occur due to land acquisition, hiring experienced labor, or buying new machinery - everything has its own set of expenses. What adds to the challenge is that there are already a number of existing manufacturing establishments running in Hubli. In such a scenario, one of the best recourse is to to opt for a business loan in Hubli. The first question that ought to arise is that which lender should one approach? Truth be said, there are a number of lenders available today who offer business loans at very attractive interest rates. Such loans not only help in financing your business’ growth, but also help in procuring new assets, finalising real estate deals and covering all other unforeseen expenses.  Once you have established yourself, your growth will depend on the quality of the products you deliver. Market dynamics tend to change very quickly and thus it is essential to keep yourself abreast of the latest trends and demands to keep your business in demand. Business loans can help you in such a case to experiment with new products which will help your cause all the more.
These loans require minimal documentation, no collateral and are disbursed very quickly. All these factors together contribute towards making it ideal for small businesses. Read Also: Ways Manufacturing Businesses in Hubli Can Use Business Loan to Grow Their Business Despite the best attempts at planning our future, life throws unexpected surprises at us. These can include serious illness, marriages going out of budget, educational expenses, or any other unforeseen expense which can be really stressful financially and emotionally. Instead of losing your night’s sleep over it, the best recourse is to opt for a short-term personal loan to get your life back on track. The issue, however, is that more often than not such loans are not available in a short span of time owing to their lengthy application process and the documentation which is needed.  In such a scenario, you can apply for a loan using a Personal Loan App which many prominent lenders, including Non-Banking Financial Institutions, provide these days. These loans require minimal documentation and are collateral-free. This means that in order to obtain the loan, you do not have to pledge any of your assets as collateral.
There are many different types of short-term loans which can be availed, a few of which are - Unsecured or Personal Loans The most popular of the lot, personal loans are very convenient as they can be used for almost any purpose ranging from credit card payments to going on a vacation. They are unsecured and can be applied using a loan app. They repayment tenor can be chosen as per your convenience. Line of Credit It is similar to a personal loan but gives you the liberty of withdrawing the money anytime you feel like. The interest is charged only on the amount which is borrowed and not on the maximum amount that is offered. This too can be used for any purpose. Additional read: What Are The Best Options For An Online Short-Term Loan? How to Differentiate Between Working Capital Loan and Capital Loan Starting a new business requires not only a lot of effort, patience and management skills, but it also requires a constant infusion of funds. When a business is being started, every step is crucial and this includes the choice of funding. As such, it is highly essential to conduct a thorough research before opting for a particular kind of funding. There are mainly two types of business loans which are working capital loan and term loan. If you are confused between these two, then read out to find out the differences between the two - Term Loans A business loan that is borrowed from NBFCs (Non-Banking Financial Companies) is known as a term loan. These loans are back by assets and are for a long term that are usually sought for capital expenses such as business expansion or setup. Such loans are usually repaid back in a period of 1 to 5 years. If floating interest rate is chosen, then the interest rate will be higher because the interest rate changes with time.  On the other hand, if fixed interest rate is chosen, then the interest paid will be lesser in term loans when compared to working capital.
Working Capital Loans There are many companies which do not have a stable revenue such as those which manufacture items that are sold on a seasonal basis. Such a loan is usually obtained to meet the short term working capital requirements which needs to be repaid back in a very short tenor. Such loans are very helpful when it comes to paying bills and settling other pending accounts. As the repayment period is shorter, the interest rates are higher. Such loans are easily available and many also do not require collaterals for securing the loans. Read Also: Difference Between Term Loan and Working Capital Loan? Buying a home without the help of a home loan is unimaginable in the present circumstances. The inflation rate is quite high and even the average monthly income of individuals are comparatively low. Hence, the importance of home loans for home buyers is quite evident and thus, we won’t talk much about it. But, there are a couple of things which home buyers take care of in advance.
In the end, navigate to the online application section and apply for the loan. Read Also: Home Loans - A Good Idea to Become a Homeowner Irrespective of whether you are a man or a woman, starting a business enterprise is a challenge for any entrepreneur. However, owing to the differences which exist at many levels including social, cultural, and economic, these problems increased manifold if the entrepreneur happens to be a woman. Despite this, women these days are overcoming such hurdles and venturing into some form of entrepreneurship or the other as has been demonstrated by the rising number of women who have started their own ventures. Realizing this change, a number of lenders have now started offering credit to women entrepreneurs which are also known as business loan for womens in India. This helps in bridging the gaps in cash flow and helps provide the requisite funds for a number of purposes. However, before applying for a business loan, one should assess whether the organization is prepared to take a business loan or not. The following golden rules should thus be kept in mind when opting for a business loan - Networking
Join small business support groups. This helps in learning from the experience of others and also helps in reaching out to potential lenders as there are many people in such organizations who are in touch with lender. Such people can thus put in a good word for you when applying for a loan. Research With time, it is getting increasingly difficult to obtain loans for small businesses. However, should you decide to opt for a business loan, you should conduct some research regarding the requirements of the loan and the kind of businesses which are funded. Also Read: Financial Planning for Women Business – How to Do It Right |
AuthorAman Khanna is an experienced financial advisor who is well known for his ability to foretell the market trends as well as for his financial astuteness. He has an MBA in finance from Toronto University as well as years of experience delivering seminars on sound financial practices and debt management. |
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