Feature Image

ENTREPRENEURIAL FINANCING – THE BEST SOURCE FOR THE GROWTH OF THE INSTITUTION

Posted on Thursday September 20th, 2018

A business loan is typically a type of financing that can be availed by the financial institutions in order to fulfill the urgent requirements of the institution. This credit is also referred to as entrepreneurial finance. Normally, for the growth of enterprises, owners require qualitative machinery and smooth production. It basically involves generation of funds, which will be reimbursed with a certain amount of interest. There is a variety of financing including- trade cash advances, mezzanine, asset-based, micro-financing, bank credits, cash flow credits and invoice. If you require a huge amount of funds for the growth of existing employment.

Advantages of business financing
Promoters usually avail entrepreneurial funding for a variety of reasons. These may include- financing new machinery and equipment, acquire more inventories, expansion to the great extent, sustain operations and many more.
These kinds of credits sources are very advantageous for meeting the capital requirements and for the overall growth of the institution or company. Here is the quick list of advantages of availing financing are as follows-
● Flexibility
● Easy to avail
● Affordable costs
● Lowest interest rates
● Secure process
● Fast payment
● Convenient repayment options
● Sustain and growth of the enterprise

It has several advantages and promoters must assess their trading requirements before applying for this credit. It is necessary to know all the terms and conditions before applying for any type of credit in order to prevent complications in the future. After applying for the particular entrepreneurial credit, you will get immediate access to the funds. If you are looking forward to starting up new venture but do not have sufficient funds. Get a business loan for new business and raise funds for your enterprise easily.

Eligibility criteria for entrepreneurial financing
It is necessary to fulfill “Business Loan Eligibility” criteria
You can avail credit by meeting certain eligibility criteria-
● Age limit- owners age should in between 25 and 55 years old.
● Your enterprise or company should 3 years old.
● Your company’s previous year turnover must be audited by a registered chartered accountant (CA).
● Your company must have its income tax returns filed for at least last 1 year.

Documents required for entrepreneurial business
Owners or promoters must fulfill all the necessary requirements in order to obtain the growth of the enterprise.
Here is the complete checklist of documents required for business loan are as follows-
● Identity proof- PAN card/ Driving license/ voter ID card or passport.
● Residence proof- (electricity bill/ ration card/ passport/ trade license/ sales tax certificate/ lease agreement).
● Bank statement of last 6 months
● Latest income tax return (ITR) along with balance sheet and profit and loss statement for the last 2 years.
● Continuity proof.
● Audited financials of last 3 years
●Other essential documents including- sole proprietorship declaration, certified copy of memorandum and articles of association.

Entrepreneurial credit is very favorable for small-scale, medium or large scale enterprises. It is provided by the money lending companies on interest. The business loan interest rate normally varies from one financial institution to another. To apply for this credit, fulfill eligibility criteria and submit required documents along with the application form to the selected financial institution. .


Feature Image

BOOST YOUR BUSINESS WITH THE LOAN

Posted on Thursday September 13th, 2018

To earn a lucrative income from your venture, it demands a lot of dedication, ideology, planning and implementation of ideas and you must have to learn how economize your professional expenses. Making a profit needs to be on your priority list and it further need expanding of your business. Any expansion requires enough funds at your disposal. The traditional way to raise fund is borrowing either from friend/relative or investors interested in partnership. Nowadays another option for sourcing a fund is to obtain a loan. A specific way to be availed to Boost Your Business with Loan provide by Shubhbank. The main aim of the product is to help businessmen and professionals to expand their commercial activities. It can also be used to buy required machinery, manpower recruitment, modernizing or improving etc. we provide the benefits of easy cash flow and helps you to access both short and long term finances fulfilling your all requirements. There are two types of loan that are provided: one is professional loan that are availed for self-employed such as doctors, chartered accountants and second is trade loans that are availed for businessmen and traders.

Getting a Business Loan” is an amazing way to outsource your dream project. The factors that will be taken into account are your income, repayment ability, credit score and a skillful ideology. So prepare a detailed plan and keep your lender informed about your plan and figure out wisely that how much money you need. The loan quantum is provided depending upon your business model, revenue stream and balance sheet at comparative interest rates. The broad eligibility criteria for availing a loan is your credit history, business feasibility with profit and loss projection and a robust plan to convince the lender about financial viability. The documents required are the proof of business existence for 2 years, ID and residence proof, tax returns and credit references. The interest rates are adjustable with the options in choice of periodicity of repayment. It is easy for companies to receive financial aid for their enterprise using this scheme because being an entrepreneur is not an easy task. So a growing focus on economic development in India, ShubhBank have stepped up and launched a business loan at attractive interest rates to promote businessmen.

This product is preferred by many entrepreneurs due to minimal documentation and easy application process. You can easily apply for it without having to step out of your house making it hassle free process. Owing to fast approval, the funds will be quickly disbursed to your account. It is a great way to gain access to funds to gain a competitive edge in the corporate sector. We aim at enabling your business unit to run efficiently and successfully beating the financial crisis and avoiding high risk factors. Our efficient team helps you to track your application process and avail you with the great deals and offerings. So individuals who wish to expand their business can approach us online or visit our branch to meet their financial needs to commence business operations.