Follow us on
CALL TOLL FREE 1800-3002-0653

Business Articles

Letter of credit is a broadly used banking term for making payment commitments in domestic and international trade markets. The abbreviations use for letter of credit is LC, LOC, and L/C however, it is also known as documentary credit. LC is a letter issued by a bank or financial institution on behalf of a buyer to a seller. In short, it is an assurance to sellers that they will get paid for the business activities like manufacturing, selling, or service providing.

Recession creates concern for any economy. This phase is equally difficult for small business owners trying to manage their business lending needs. In fact, this downturn makes things complicated for companies running their businesses. Because, this is the critical time as the payments cycles lengthen and at the same time banks also become raise their lending standards. While small businesses are relatively more dependent for loans on banks and other financial institutions still there are scenarios that persuade them to make their decisions in accord with the current scenario.

Internet has been increasing its reach to every arena. Internet powers active marketplace for buying and selling of businesses. There are numerous websites available which provide the service of buying business online.

A Business Loan can be availed if a borrower is clear with the idea that how much money would be sufficient for his business. Yet, another big task is to find the right source of financing. The important question is how to find it? Well, your search for encountering the most suitable lending resource is usually based on various factors, however it is also the result of how and what means you follow while deciding about business loan.

What makes a business qualified for loan? Should we say its operations, the kind of business, credit score or history? Basically, all these things are equally important to make a right combination that leads a business to a higher score when it comes to acquiring any business loan. Yet, it takes time to make businesses strong in the financial market.

Starting or running a small business is not an easy task. One of the major challenges that an entrepreneur faces is the lack of adequate capital for initial set-up. Bank loans are instantly accessible only if you have a good credit score or a good business history. Before applying for a small business loan, it is imperative to explore the various types and sources of loans you can avail as per your business requirements and as per your feasibility. Small business owners can avail both secured as well as unsecured loans.

You need a business loan to start and grow your business. It becomes difficult when you do not get the right loan at the right time. In this regard, it is important to determine your loan type as well as your funding source beforehand. Banks offer business loans to enterprises in order to help them meet their short and long term financial requirements. A business owner needs capital for starting and expanding his / her business as well as for meeting various other related expenditure.

Any new business venture starts with a business plan. A business plan is written in order to express the entrepreneurial vision of a business owner. It states the strategies and operations of the proposed venture. It is to be noted that a business plan is a much needed document while applying for a business loan. In order to make your business plan look professional, you can seek help from consultants, accountants or lawyers. Their advice and expertise can be of great help for you in this regard.

A business loan provided under a government scheme or program is always favorable due to its lower interest rates. Besides, government loan schemes help you suffice your day-to-day business funding requirements. With the help of various government loan schemes, you can take your business to the next level. Both state and central government have framed various policies and schemes to cater to the financial requirement of small businesses across the country.

Today, credit card is an indispensable part of any business. Corporate credit cards differ from personal and small business credit cards. Many business organizations facilitate their employees with corporate cards for paying expenses related to their business purposes. The credit history of a firm is taken into account while issuing a corporate credit card.

MSMEs or Micro, Small and Medium Enterprises form the backbone of an economy. In India, MSMEs have been picking up pace for past few years now. Though while acknowledging the significance of small businesses, banks do hesitate in extending loans to the first generation entrepreneurs.

Business loans are obtained for meeting various short-term and long-term financial needs. Capital is required for starting as well as for running the business. In order to get your loan approved, you must meet all the eligibility criteria and submit all the required documents to your lender.

Small business owners need funding for starting their businesses as well as for meeting the costs of business expansion / acquisition and capital investment. Besides, you need capital to run your business in a streamlined manner. These loans are provided to an entrepreneur on the basis of certain set rules and regulations.

Small businesses play a great role in boosting the economy of Delhi. At present, a large number of small businesses under different sectors are operating in the national capital. Similarly, various loan schemes are also introduced by the government to cater to the requirements of the business entrepreneurs. Read on to know more.