Daily Tip: Our top advice to women entrepreneurs applying for SME financing

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Running your own business is a big responsibility, and the pandemic hasn’t made it easy. But a true entrepreneur would see the opportunities amongst all the challenges and create something innovative, no matter the circumstances!  Many Indian women entrepreneurs have used this opportunity to transform innovative ideas into sustainable revenue-generating businesses, and now you may…

Daily Tip: If your small business is eligible for GST, make sure you register

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Do you have a GST registration for your business yet?  Since its introduction in 2017, the Goods and Services Tax (GST) has simplified indirect taxation in India, but many SMEs across India still struggle to understand the system and whether they need to get a GST registration.  We know the GST system can be confusing…

Daily Tip: Don’t forget to file your GST Returns this month

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October is going to be one of the busiest months for businesses across India. Between your work and festival celebrations, don’t forget to keep up with your GST obligations. Depending on the type of business you own, or the type of GST payment schedule you follow, your GSTR filings for September 2021 are due this…

Daily Tip: SMEs with 1-year vintage can get an SME loan from Lendingkart

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If you’re thinking about getting an SME business loan, our newest lender partner, Lendingkart, may offer the right SME loan product for your business needs! Many of our SME customers have got unsecured business loans and unsecured overdraft facilities from Lendingkart using CreditEnable’s technology platform, and we may be able to help you too. Using…

Daily Tip: Your credit score impacts your chances of getting an SME loan!

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At CreditEnable, we’re asked often whether your individual credit score has any impact on your business credit score. The short answer – yes, it does! Your credit history tells a lender a lot about your financial habits.  In the case of a younger business that is still building its lending history, lenders pay particular attention…

Daily Tip: When using a service, always know how your data is handled

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Did the global Facebook, Instagram, and WhatsApp outage get you thinking about your data security? You’re not alone! Though Facebook, in their official update, confirmed there was “no evidence that user data was compromised as a result” of the outage, your data privacy should be your #1 priority like it is ours.  At CreditEnable India, we…

Daily Tip: Don’t forget to keep up with your tax obligations in October

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With so many festivals and celebrations happening this month, October is shaping up to be a hectic month for business owners. CreditEnable is here to help you stay on top of your tax obligations, no matter what! The deadline to deposit the TDS and TCS for September 2021 is October 7, 2021, so don’t forget…

Daily Tip: SMEs using current accounts are more likely to get an SME loan

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Did you know the type of bank account you use for your business impacts your chances of being approved for an SME loan with a formal lender! Lenders are more likely to lend to businesses that use current accounts for their business transactions because they consider them “pure” business accounts.  When you apply for an…

Daily Tip: Know what influences your credit score to strategically improve it

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Do you know what factors influence your credit score?  Credit bureaus like CIBIL and Experian use factors such as your industry, repayment history, your businesses capacity to repay a loan, among other things, to determine your credit score.  Once your credit score has is calculated, lenders use it as a proxy for your creditworthiness, using…

Daily Tip: Things to consider before applying for unsecured business financing

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As a small business, there are many things you need to think about before applying for business financing. What type of SME business loan you should get is one of them.  The type of business loan you apply for depends on how you plan on using the loan, what collateral you own that you can…

Daily Tip: Understand your credit report to improve it strategically

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By now, you should know that whenever you apply for small business funding with a formal lender, they check your credit report. Your report provides lenders with a host of information about your business finances, from your credit score to your financial and repayment history.  Here’s an easy guide to help you understand the different…

Daily Tip: Don't let your mental health suffer while you get your small business ready for festival season

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With the festivals approaching fast, businesses and entrepreneurs are getting ready to go into overdrive! As an SME, you’ll probably be working overtime this month and will also need to make time to participate in the festivities.  With all this activity happening around you, it may be hard to take some time for yourself. However,…

Daily Tip: Apply for a business loan now to get it before Diwali

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Festival season has begun, and Diwali is right around the corner. If you anticipate needing extra business funding to help you finance your special business plans for the upcoming weeks, now is the right time to start the business loan process! Why so soon? That’s because it may take you some time to figure out…

Daily Tip: Your business vintage can make or break your chances of getting a small business loan

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Your business vintage is an important factor for lenders when they’re making their lending decision. Lenders use your business vintage (how long your business has been operational and registered) as a proxy for how sound your business plan is. It helps them assess whether you will have the financial ability to repay your loan EMIs…

Daily Tip: The deadline to file your individual ITR has been extended

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Have you heard? The last date for individuals to file their Income Tax Returns (ITR) for the Financial Year 2020-2021 has been extended to December 31, 2021. The Central Board of Direct Taxation (CBDT) announced the extension to ease the pressure taxpayers are facing due to COVID-related difficulties and the glitches in the new ITR…

Daily Tip: Use your cash flow forecast to predict when your cash inflow may be less

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A cash flow forecast helps you determine how your business will perform in the future.  If you don’t already have one ready, start putting one together for your small business or work with your CA to prepare it together. Your cash flow forecast considers all your inflows and outflows to determine how much money you…

Daily Tip: Leverage technology to increase your creditworthiness

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Small digital interventions like these can improve your customer service and increase the speed and scale of your work!  Using WhatsApp Business makes keeping track of orders easier for you, and providing your customers multiple payment options (GooglePay, PayTM, PhonePe, Credit, Debit and Cash) makes doing business with you easier for them.  With festival season…

Daily Tip: If your business loan is rejected, don’t re-apply to the same lender

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If you applied within the last 3 months for a small business loan and you were rejected, wait before you re-apply and seek help. When lenders are making a lending decision, they assess your application based on many different factors, including: your credit history your business plan  your sector your financials and cash flows your…

Daily Tip: Ensure you have blank cheques before applying for business funding

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When you apply for small business funding or try to open a new bank account, lenders will ask you to submit a cancelled cheque.  While no one can withdraw money from your account using a blank cheque, it does include valuable information like your full name, bank account number, the name of your bank and…

Daily Tip: Link your PAN and Aadhaar before 30 September!

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The last date to link your PAN and your Aadhaar is 30 September 2021! Linking the two forms of identification makes it easier for lenders to assess your small business loan application. It reduces the time they take to review your application, which means they can approve your loan request sooner, and you can have…

Daily Tip: The right business financing can help you achieve growth faster

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The type of small business financing you should apply for depends on many factors, including what collateral you can offer the lender, what loan amount you need, how you plan on using the loan, and for how long you want the loan.  At CreditEnable, we’re here to help you get the right business loan for…

Daily tip: Apply for a LAP if you own property and need business financing

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Are you trying to decide whether a secured business loan or a loan against property (LAP) is right for your business financing needs? If you own residential or commercial property that you can mortgage to get the business loan, then a loan against property is your answer! LAP is a type of secured business loan.…

Daily Tip: Maintain a work-life balance to develop stronger relationships

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Festival season is upon us! The festivals are all about spending quality time with your loved ones, laughter, and great food! So, as a small business owner with a very demanding job, now is the right time to learn some techniques that can help you balance your personal life and work while giving equal amounts…

Daily Tip: Apply for small business funding now, before festival season!

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Festival season in India has arrived! The next two months are going to be a celebration of family, traditions, and delicious food! It is also the time when people tend to buy new things for their homes and businesses to mark a new beginning, and to welcome prosperity into their lives. So, now is the…

Daily Tip: The deadline to pay your Advance Tax is September 15!

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Have you heard about Advance Tax? Section 208 of the Income Tax Act, 1961 states anybody whose estimated tax liability for a financial year is more than or equal to Rs. 10,000 is liable to pay advance tax. Paying advance tax simply means paying your taxes as you earn your income so that you don’t…

Daily Tip: Get a working capital loan if you require a short-term business loan

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Looking for a little extra support to cover your daily expenses and avoid disruptions in your operations until your accounts receivables get paid? A Working Capital Loan is the right option for your small business financing needs! A working capital loan is a short-term business loan option that helps streamline your cash flows during a…

Daily Tip: File your GST Returns for August 2021 on time!

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It’s tax time again!  Depending on the type of business you own, or the type of GST payment schedule you follow, your GST Returns for August 2021 are due this month! Here are some important dates for you to remember: September 11: GSTR 1 (Monthly) for August September 13: GSTR 1 IFF (Optional) (August 2021)…

Daily Tip: Register your business to get small business financing easily

CreditEnable_Small Business Financing
Did you know your business registration is how lenders determine how old your business is? Also known as Business Vintage, how long an SME has been operational and registered is crucial when getting small business financing from a formal lender.  A business registration makes it easier for lenders to verify and validate the information mentioned…

Daily Tip: Deadline to deposit the tax you collected/deducted is coming up

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CreditEnable is here to help you stay on top of your tax obligations and improve your attractiveness to lenders. The deadline to deposit the tax collected and deducted at source in August 2021 is September 7! If you collect tax at source from your buyers or deduct tax at source for your employees, don’t forget…

Daily Tip: Apply for the right kind of business financing to get the most out of your business loan

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As a small business looking for business financing, you have a couple of loan types to choose from. You can apply for an unsecured business loan if you don’t have any collateral to put up or just need some short-term financing.  You can apply for a secured business loan by giving the lender some form…

Daily Tip: Here’s how you can avoid defaulting on a business loan

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Any time you do not adhere to the terms of your business loan, like making an EMI payment on time, you are defaulting on your business loan.  Defaulting on a loan has a drastic impact on your credit report, and therefore your attractiveness to lenders and your future loan prospects.  When you take a loan…

Daily Tip: Prepare for a business loan before you apply for it

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Getting a business loan is a big responsibility. Lenders will only lend to entrepreneurs who have the financial ability to pay their EMIs and fund their daily expenses simultaneously, without difficulty. As a small business, here are our tips on how you can prepare for the business financing you need to grow: Produce a thorough…

Daily Tip: Get a business machinery loan to invest in new machinery

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Thinking about investing in new machinery or getting the machines you already own repaired? A business machinery loan is an option for this purpose!  New or improved machinery enhances your manufacturing process, improving your production capacity, quality, and speed. New machinery may also increase the valuation of your company in case you’re looking for new…

Daily Tip: Taken a home loan? You can get a deduction on your Income Tax Returns

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Did you know you are eligible for a deduction on your Income Tax Returns if you’re currently repaying a home loan? When you submit a Home Loan Certificate along with your ITRs, you are legally allowed to save the following: The maximum principal amount repaid by you that can be claimed as a deduction is…

Daily Tip: Submitting your loan documents online speeds up the underwriting process

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As a technology platform that is 100% digital, CreditEnable always asks our SME customers to submit their loan applications and supporting documents online. This speeds up the loan assessment process and makes it easier for our lender partners to verify your information. But some of our customers prefer to handle loan applications offline because this…

Daily Tip: Physical exercise is a great way to relieve stress

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Being a full-time entrepreneur is a rewarding experience, but it can also be stressful at times. You need to oversee everyones’ work and get an unlimited number of tasks done in a day. As your business starts to grow, all your hard work starts to pay off, and you feel great! Now you will work…

Daily Tip: Have your chequebook handy when applying for a business loan

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When you apply for a business loan, you will need to give the lender a cancelled cheque. This acts as an important piece of documentation, helping lenders assess your financial history and reduce the instances of typographical errors. In addition to business loans, lenders require blank cheques to verify your financial information and do customer…

Daily Tip: Know the difference between fixed and reducing interest rates

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When you borrow a business loan from a lender, you must repay them the principal amount you borrowed and the predetermined interest rate they are charging you for the loan. After your business loan application gets approved, lenders will offer you two EMI interest rate options to repay the loan – a fixed interest rate…

Daily Tip: Prepare for the business loan in advance to have your business loan approved faster

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How do you get your business loan approved faster? When you apply for a business loan, in addition to your loan application, banks require several documents to verify your loan request. To increase your chances of being approved for a business loan, we recommended you do the following things before submitting the loan application: Organize…

Daily Tip: Prepare a cash flow forecast for your business

CreditEnable_Cash Flow
Have you prepared a cash flow forecast for your business yet? A cash flow forecast takes into account all your inflows and outflows over a certain period to predict what your finances will look like in the future. The forecast helps you identify patterns in expenditure and resource allocation. It gives you a big-picture view…

Daily Tip: Use technology to grow your business faster

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The pandemic has led to many changes in our personal and professional lives. However, by introducing technology in your business operations, you can continue working remotely from anywhere, work more efficiently, and also grow your customer base! Some things you can do to grow your business using technology: 1. Sell on an e-commerce platform like…

Daily Tip: Improving your credit score is hard but not impossible!

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Are you worried your credit score may negatively impact your chances of getting the business loan you need to grow? This is a valid concern as your credit report is a crucial piece of financial information lenders will review before they decide to lend to you. Any major financial transaction you make, from applying for…

Daily Tip: If you own collateral, a secured business loan is your best option

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When you’re in need of a business loan and own assets that you can put up as loan collateral, you can get a secured business loan. In exchange for collateral, lenders will offer you a loan with a: Larger loan amount Attractive interest rate Loan tenure ranging from 12 months to 20 years The exact…

Daily Tip: Your individual credit score impacts your chances of getting a business loan!

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Does your personal credit score impact a lender’s decision to offer you a business loan? Yes, it does!  A lender will check your personal credit score, in addition to your business credit report, when they’re deciding to lend to your business.  Your business and personal credit histories can affect: Whether or not you get approved…

Daily Tip: GSTR-3B filing late fee amnesty scheme ends soon

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According to the Goods and Services Tax Act, taxpayers cannot file a particular tax period’s GSTR-3B without filing the previous ones. You also risk having your GST registration cancelled if you haven’t filed GSTR-3B for six consecutive tax periods or three consecutive quarters! Losing your registration may impact your clients, or GST registered customers could…

Daily Tip: Get an unsecured business loan if you don't own collateral

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Unsecured business loans are a great option for first-time borrowers or businesses who don’t own much (or any) collateral to offer lenders. They are relatively easier to get compared to secured business loans. Due to the lack of collateral, lenders can process and sanction unsecured business loans faster because they don’t have to spend time…

Daily Tip: Be transparent when applying for a business loan

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Are you applying for a business loan? Be transparent on your business loan application to increase your chances of getting approved for the loan! Lenders use numerous methods to verify the information you provide on your business loan application and in your interactions with them. So, being transparent helps build trust with your lender and…

Daily Tip: Create a clean environment for your customers by enforcing COVID-19 rules

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Are you ready for Unlock? We know we are! But before you get back to work, make sure you’ve taken all the COVID precautions necessary to keep your staff and customers safe.  Makse sure your employees wear masks that cover their nose and mouth, provide hand sanitizer for customers to use, and regularly sanitize your workplace.…

Daily Tip: Your mental health is as important as your physical wellbeing

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As an entrepreneur, your business is your baby, and you need to make sure you’re providing your customers quality service and products to keep them happy and your business healthy. But entrepreneurs are also under a great deal of stress right now. With COVID-19 restrictions changing daily, you have the added stress of lockdowns, disruptions…

Daily Tip: How to read your credit report

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When you apply for a business loan, lenders check your credit report to decide if they should lend to you or not. Do you know what information is included in your business credit report? Your report has the following sections: Identity and enquiry information Company details Enquiry summary Account summary Location details Relationships details Credit…

Daily Tip: Deadline to deposit tax collected/deducted in July 2021 coming up

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The deadline to deposit the tax collected and deducted at source in July 2021 is August 7! If you collect tax at source from your buyers or deduct tax at source for your employees, don’t forget to deposit the collected tax with the tax authority! Visit the Income Tax website for the full August tax…

Daily Tip: TCS Certificate for Q1 of 2021-2011 due on 30 July 2021

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Do you collect tax at source? Don’t forget, the deadline to provide your TCS Certificate for Q1 of FY 2021-2022 is 30 July 2021.  TCS is a tax collected by a seller from a buyer at the time of sale. The seller is required to deposit the collected tax with the tax authority within the…

Daily Tip: File Your GST Return Forms On Time!

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With the government issuing new notices weekly to accommodate for the disruptions caused by COVID-19, it is easy to forget to file your regular GST Return (GSTR) forms. So, here is a reminder to file your GSTR forms this month! Depending on the type of business you own, or the type of GST payment schedule…

Daily Tip: Learn What Information is in Your Credit Report

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Your commercial credit report (CCR) is just one of the factors that lenders take into consideration when deciding whether to lend to you or not. But it is an important factor. Your CCR contains information about the financial history of your business, and also the financial history of the owner and the directors of the…

Daily Tip: Download e-Statements Before Applying for a Business Loan

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When you apply for a business loan, you need to submit your bank account statements for the last 12 months for all the accounts you use for your business. With most bank branches closed and lenders working remotely, how do you access your business bank account statements? Most lenders now offer digital statements that you…

Daily Tip: Register on CoWIN and Book Your COVID Vaccine

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The #1 question on all our minds right now – have you got the COVID vaccine yet? Want to register for the vaccine but don’t know how? Visit our blog to learn how to register and find out what COVID vaccines are being administered in India. With the revised COVID guidelines going live today (21 June 2021),…

Daily Tip: Check Your Credit Score Regularly

Check your credit score regularly
When was the last time you checked your credit score? We recommend regularly reviewing your credit report. This will help you catch inconsistencies before they cause problems and negatively impact your credit score and creditworthiness!  Click here to read more about why you should check your credit score regularly. Zero Hassle. Zero Fees.Business Loans. Enabled…

Daily Tip: Get Approved For a Business Loan Faster

Business Loans
How can you shorten the wait time and get approved for a business loan faster? Our #1 Advice:Have your personal and business documents in order before you apply! Compile a complete list of all documents the lender will need, and make sure you have all of them ready before submitting your application! This will reduce…

Daily Tip: Income Tax Return Extension Alert

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To help taxpayers overcome disruptions caused by the second wave of COVID-19, the Central Board of Direct Taxes (CBDT), GoI in circular no.9 dated 20 May 2021, announced new relaxations regarding Income Tax Return filing due dates! The individual ITR due date for Assessment Year 2021-2022 has been extended to 30 September 2021 and, the…