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…

Union Budget 2022: Key highlights for the MSME sector

Union Budget 2022

On Tuesday, 1 February 2022, Union Finance Minister, Nirmala Sitharaman, presented the Union Budget 2022, a day after the Economic Survey 2021-2022 was released. Hailed as a budget that addresses the physical, social, and digital infrastructural needs of the country at this moment, the Honourable Finance Minister said the budget lays out India’s development trajectory…


Tips for Women Entrepreneurs: Succeeding in 2022

Women entrepreneurs

At CreditEnable, we take our customer success very seriously. Given the male-dominated nature of the business world in India, it is sometimes more difficult for women entrepreneurs to start or run small businesses. In the 2021 financial year, women owned only 20.37% of all MSMEs in the country. This number is up from 13.72% in 2011, but…


How To: Write a cheque to make a business loan EMI payment

business loan EMI

As more lenders digitize and begin offering their borrowers the option to automatically pay their EMIs using the NACH (National Automated Clearing House) service, paying a business loan EMI using a cheque is becoming less common. Despite using NACH, when you get a business loan from a formal lender, you will still need to give…


What is the difference between Experian and CIBIL?

CIBIL

When you apply for a business loan, lenders will check your bureau report before deciding to lend to you. There are 4 RBI authorized Credit Information Companies (commonly known as credit bureaus) in India. These credit bureaus prepare your credit report (also known as a bureau report). When you apply for a business loan, two…


Can I get a business loan with an NH Credit Score?

NH credit score

When you apply for a business loan with a formal lender, most lenders will check your bureau score (also known as credit score) before lending to you. Your credit score can range from 300 to 900, and sometimes borrowers can even have a minus one or NH credit score. What does this score mean, and…


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…