Regular cash inflows and outflows from your business bank accounts indicate to lenders that your business is in a healthy financial state. It lets them know that if they lend you an SME loan, your business will make enough money in a month to cover your daily expenses and your EMI instalments.
If you’re considering applying for an SME loan, we recommend preparing a cash flow forecast first. A cash flow forecast helps you predict how much money you will make and spend in the coming months. Cash flow forecasts are based on past income and expenses and are a good way to start planning for expected costs.
Once you know how much money you’ll make in the near future and what your expenses will be, you’ll have a better understanding of what loan size to ask for and how you’ll keep up with the EMI payments.
If you’ve already considered your cash inflows and outflows and know exactly how much to ask the lender for, CreditEnable can help you get the SME loan you need to grow.
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