Whether it’s about setting up a new branch, purchasing new equipment, or scaling up the production; the constantly bugging problem that almost every entrepreneur hates is lack of funding. Yup! At any given point of time, a business has only enough to comfortably pay for their working capital needs - and additional funding from external sources become absolutely essential to pursue any of the above-mentioned plans. Most of the business owners turn to private money lenders or liquidate their short/long term assets, but some act sensibly and leverage from the alternate business funding schemes offered by the government and the financial institutions.
Accordingly, if your business is lacking financial support, you can ask for any of the below mentioned business funding alternatives.
Engineer loan: Many NBFCs and banks have been offering engineer loan - a type of unsecured business funding scheme, customized to cater to the specific business needs of professional self-employed engineers. The same will help you borrow a bigger amount at a reasonable interest rate along with a wider repayment tenor.
Business loan by banks and NBFCs: Business loan by banks and NBFCs have been in existence from a long time. But now, owing to the ‘Make in India’ campaign becoming a thing, the business funding schemes are more readily accessible.
SME funding by the Indian government: As mentioned above, to make the motive behind ‘Make in India’ campaign more achievable, the Indian government have introduced special funding schemes for SMEs and MSMEs. Any eligible business can leverage from the facility.
%20(1).png)
No comments:
Post a Comment