Do you know the difference between an SME and an MSME loan? An MSME loan and an SME loan aren’t very different, but what matters is the government’s classification of Micro and Small-sized enterprises. Based on the category your business falls into, your business could be eligible for government support and different SME loan products…
One of the most common questions we get asked by our SME customers is, “I don’t own property. Can I still get a business loan?” The answer is “yes”! You can get an SME loan even if you don’t own property! Below are your loan options if you down own property. Am I eligible for…
If you’re thinking about getting an SME loan, it’s always better to check your business loan eligibility before applying. When you directly apply with the lender, they do a hard pull of your bureau report to check your eligibility. If you don’t meet their loan eligibility criteria, your application will get rejected, and your credit…
With Diwali right around the corner, we know you’re probably expecting your sales to rise this month. One easy way to conduct smooth business transactions in the coming weeks (to receive and make payments) is to use UPI-based digital payment platforms like GooglePay, Paytm, and PhonePe. These UPI payment platforms not only make it easier…
If you’ve ever applied for small business financing, you may have noticed lenders offer each business a different interest rate on their loan. Do you know why? Interest rate calculations for lenders are about the risk they take when they lend to a particular SME. In simple terms, does your business have the capacity to…
Festival season is in full swing across India now, and as a small business, there are a few things you can do to maximize your returns during this time. Why should timing matter? Because Diwali is an auspicious time for new beginnings, and Indian consumers are more likely to invest in their homes and businesses…
If you’re a small business with a GST registration, you need to submit your GST registration certificate along with your loan application when you apply for an SME loan. Your GST certificate is an important document that you are mandated to display in a prominent location at your place of business, according to the CGST…
When you’re applying for SME business financing, either using CreditEnable’s technology platform or directly with the lender, you need to submit your Income Tax Returns (ITR) acknowledgement and Computation of Income along with your loan application. Your Income Tax Return–Verification (ITR-V) form is a single-page document that the Income Tax Department automatically generates when you…
COVID-19 has forced many SMEs to make tough decisions. It’s time you work smart and get the most out of your tax deductions to get through this year. Did you know, if you’re currently repaying a home loan, you are eligible for a deduction on your Income Tax Returns (ITRs)? Ask your home loan lender…
Does having a GST registration impact the types of payment options you can offer your customers? If you run a small business in India, chances are you’re offering your customers multiple methods of paying at checkout. Before demonetization, we used to be a cash-based economy, which meant a lot of our business transactions were made…
