How to Improve Your Chances of Getting a Business Loan: Everything You Need to Know

Applying for a business loan doesn’t need to be a stressful process. Here are our top tips for making your business more attractive to lenders when applying for a business loan.   Perfect Your Business Plan  When it comes to traditional business loans, lenders want to understand your business plan fully before agreeing to lend…

Can I get a business loan if my business vintage is only 1-2 years?

business vintage

Are you applying for a business loan? You may come across the term “business vintage” when researching business loan eligibility requirements. If your business is 1-2 years old, it may be difficult to get a small business loan because most formal lenders prefer to lend to older businesses. But don’t worry, we have the right…


CreditEnable’s top 10 tips to avoid business disruption in 2022: COVID-19 Edition

COVID-19

If you’re like the other SME business owners we interact with, you are probably checking your phone every hour to keep up with the evolving COVID-19 Omicron situation in your state right now. We understand. Your business is your baby, and the past two years have been tough on all SMEs, so you want to…


CreditEnable’s top tips to get small business financing quick

business financing

It’s 2022. This year, your business is going to shine, and CreditEnable is here to help you get the business financing you need to do just that! As credit experts, we’ve helped thousands of SMEs assess their loan eligibility, improve their creditworthiness, and successfully get the business financing they need to achieve their growth goals!…


Daily Tip: Your credit report and credit/ bureau score are not the same

bureau score

Most borrowers know what their CIBIL/ bureau score is, but fewer borrowers know about credit reports. Do you know what a credit report is? Your credit/ CIBIL/ bureau score is part of a report, known as a credit report, which contains your detailed credit history. In addition to your credit score, your report includes your…


Daily Tip: Have your Form 26AS ready when applying for an SME loan

Form 26AS

Let’s talk about an important financial document – Form 26AS. Your Form 26AS acts as your Tax Credit Statement for Income Tax Returns filed in any financial year. It provides the tax authorities with information about your various sources of income.  When you apply for business funding, lenders may ask some borrowers to submit their…


Daily Tip: You may qualify for an SME loan if your credit score is minus one

minus one

Have you ever heard of a minus one (-1) credit score and wondered what it means? First-time borrowers, who don’t have any credit history in India, have a minus one (-1) credit score.  Through this score, credit bureaus are telling a lender they have no record of this borrower, and they cannot assign a 3-figure…


What documents can I use as Proof of Business Address when I apply for an SME loan?

proof of business address

When you apply for an SME loan, one of the business KYC documents you need to provide is proof of business address. “What document can I use to validate my business address?” is one of the most common questions we get asked as credit experts. So, let’s discuss this. What is a Proof of Business…


Daily Tip: File your Income Tax Returns before 31 December 2021

Income tax returns

Have you filed your Income Tax Returns yet?  The due date to file your Return of Income for the Assessment Year 2021-22 is 31 December 2021. The date was extended in September 2021 by the Central Board of Direct Taxes (CBDT) due to pandemic-related difficulties taxpayers were facing in filing their Returns and the fixes…


4 reasons to check your credit report regularly: Year-end edition

check credit report

In India, the end of the year means a flurry of activity and expenses for consumers. We hop from the festival season, straight into wedding season, and then the holiday season without respite. All the occasions call for considerable spending, and while we’re in the thick of the festive mood, we may not have the…


Daily Tip: Here’s how to make your small business a COVID-free zone!

COVID

With cases of another COVID-19 variant on the rise, businesses like yours play a key role in preventing the third wave in India.  Make your business a COVID-free environment by enforcing COVID guidelines within your workplace, like always wearing a mask, crowded control, and regular sanitization. It will be important that you ask both your…