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…

Using the mAadhaar app to update demographic information on my Aadhaar ID when I apply for a business loan

apply for a business loan

Aadhaar is one of the most important forms of identification in India. Adopting a user-centric approach to the Aadhaar programme, the Government of India has invested in multiple ways for residents to get an Aadhaar ID. You can avail of Aadhaar services offered by the Unique Identification Authority of India (UIDAI) anywhere in the country…


Using myAadhaar to update my demographic data when applying for a business loan

applying for a business loan

If you’re a resident of India, you need an Aadhaar card to access numerous services offered by financial institutions and the state and central governments. Your Aadhaar ID stores your demographic and biometric information and is a required document when you are applying for a business loan. Throughout your lifetime, some of your demographic information…


Can I download my Aadhaar card online to use for my business loan KYC?

Business loan KYC

Aadhaar is one of the most important forms of identification in India. Whether you’re travelling across the country or accessing financial services like opening a bank account or applying for a business loan, you need to provide your Aadhaar card for identification. Aadhaar IDs are issued by the Government of India and are accepted in…


What are the advantages of getting a short-term business loan?

short-term business loan

As a small business owner just starting, it’s good to know about all the funding options available to you. One such option is a business loan. A business loan is a multi-purpose business funding option, and you can get one with or without any security. Before applying, a few things you should consider are which…


What are the advantages of getting a long-term business loan?

long-term business loan

As a small business owner, you need to be aware of all financial solutions available for you to use. As an SME, you can apply for a business loan to cover your business’s financial needs, but there are many things to consider when applying for a business loan. These include which lender to apply with,…


How does a business loan EMI bounce impact my creditworthiness?

business loan EMI bounce

When you take out a business loan or buy an item that you wish to pay for later, you can opt for the EMI payment option which allows you to pay for it in instalments over a set period. EMIs are the most common method of loan repayment and are also used as the primary…


Things every SME should know about SME loan EMIs

SME loan EMIs

If you have ever gotten an SME loan, you may be aware of what an EMI is. When you take out a loan from a lender, they don’t expect you to pay back the entire amount immediately or in one go. Instead, you are required to repay the loan in monthly instalments, over a set…


What is the use of a cancelled cheque?

Use of cancelled cheque

When you apply for a business loan, several documents are required by the lender to verify your information before granting the loan. These documents help lenders verify the information filled out by you in your business loan application. One of the documents that lenders ask for is a “cancelled cheque” before granting you the business…


What types of assets can I use as business loan collateral?

business loan collateral

As a small business owner, there are a few types of business loan products available on the market for you to choose from. Based on the assets you own, you can opt for a secured business loan or an unsecured business loan that you can get without providing the lender with any security in exchange.…


Can I still use cheques to make payments?

use cheques to make payments

Before the rise of cashless and digital payments, cheques and cash used to be the most common form of payment used in the market. With innovation in technology, there has been an increasing shift towards online transactions, and digital modes of payments have become extremely popular. They are easy to use and a secure alternative…