SMEs’ Helping hand in India’s Burgeoning Healthcare Industry

Does our country need to transform its healthcare system? Quality healthcare is still not easily accessible to a majority of the population in India, especially in rural areas. This is probably due to ineffective delivery mechanisms, low public expenditure, and very less health insurance penetration.

There is a large opportunity to create a better harmony of services and products revolving around health, insurance and technology. There is an urgent call for the need of innovative healthcare delivery mechanisms which include e-medicine and specialty hospitals. SMEs are responding to these growing needs with several strategic initiatives. Online marketplaces such as SMEcorner.com work closely with professional in the healthcare industry to realize these opportunities.

State of Healthcare in India

The Central government spends nearly about 30% of the total healthcare budget requirement in the country. This is not even half of what the developed nations spend every year. In order to bridge this gap, it is very important that we address the infrastructure issues. This can be done by standardizing diagnostic procedures, setting up health clinics, and developing efficient health IT systems. As long as the number of skilled medical graduates keeps growing, these demands can be met easily. However, in rural areas lack of finances act as hindrances to these developments, which fail to attract medical professionals to set up these developments.

Fortunately, loan for Medical Equipment are made available to professionals in the healthcare industry and emerging businesses to fund the purchase of equipment for medical centers.

SMEcorner.com, founded by Samir Bhatia, helps SMEs in Healthcare industries obtain easy loans for Medical Equipment. These types of loans allow healthcare professionals to provide quality and inexpensive healthcare with attractive loan schemes for businesses to invest in intensive medical equipment.

Professionals in the healthcare industry who wish to fund new projects, set up a clinic, diagnostic centers, or a hospital can avail of these loans. Banks and NBFCs offer a wide variety of efficiently structured solutions for the purchase of medical equipment. This type of loan is commonly provided in the form of a term loan refunded in the form of EMIs.

How do SMEs benefit from this Loan?

  • Minimizes heavy capital expenditures in the short term
  • Maintains cash reserves
  • Makes the repayment process easier for start-ups
  • Allows businesses to upgrade to the latest technology to provide quality healthcare
  • Quick loan application processing

SME Corner – Digital Age Lender for Small Businesses in India

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If you are an SME and in need ofloan for small business in India, then SME Corner is truly the right choice. Our working process is simple as we provide small business loan onlinewith our products designed in a way to offer easy business loans. We are one of the best lending platforms forcollateral free business loans in India. For Zero Collateral Business Loan call us at +91 9987535888 or visit – https://www.flickr.com/photos/149447895@N06/34549795086/in/dateposted-public/

How Business Loans Helps To Expand Your Business

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Whenever we think of taking a loan, personal or business, the first thought that crosses our mind is “I did not manage my finances well”. Well that is not true. If you have been living off loans for long, you might seriously want to sit and plan your finances. However, loans taken for the right reason and at the right time are beneficial; be it an individual or business. Here are some reasons to convince you that small business loans help.

1. Business Loans Help Build a Credit History:
Small businesses often struggle, when it comes to getting working capital loans. This is mainly due to a poor credit history or a complete lack of one.So, taking small business loans will not only help you address your SME financing requirements, but also help build a credit history. However, be careful! Don’t just go out and apply for a loan without a plan.Be sure that you have identified areas in your business that need immediate financing.You should also be able to repay the loans in a timely manner, without hurting your bottom line. Inability to repay the loan, will only drop your credit rating and end up making things worse for you and your business.

Benefits: Small business loans help you lay the building blocks for higher amounts of working capital loans in the future. A good credit history with timely repayment of the business loans can improveyour borrower profile, hence giving way for large-scale financing in the future.

2. Fund Your Small Business: If you’re in need of some quick and easy cash an unsecured small business loan can help. These loans come without any collateral or guarantee requirement. You can use this loan to purchase equipment and inventory for your business or complete a big order you just bagged, on time. Typically, one would think “banks” when it comes to source of funding a business, but sadly banks take anywhere between 4-6 weeks to approve a loan. On the other hand, there are several lenders in the market these days, who can disburse a loan to you in as fast as 3 working days. These lenders, do not ask for collaterals and can offer customized services and loan options, as per your requirements. Just make sure you have researched and reviewed all your options well, before accepting a loan.

Benefits: Unsecured business loans can help in creating value for every rupee invested into the business, with the end objective of revenue generation and business growth.

3. To Grow & Expand Your Business: Unsecured business financing for SMEs that have been profitable for 2 or more years can use these funds in a different way. You can think of expanding to other geographies, installing a new plant, increasing manpower to increase your output and sales or even invest in technology upgradation of your company. These loans are personal investments that will help you secure a higher income in future. To finance such items, secure loans that you can repay comfortably using your current income. Do not plan for income that you haven’t received. Do not take a loan to fund activities that don’t add value to your business.Never use debt to fund activities that can be avoided.
Benefits: Apply for unsecured small business loans to finance growth and expansion of your business.

4. To maintain liquidity
Small businesses, often face challenges in financing their day to day operations. A business may need funds to purchase new machinery, increase staff or even buy raw material for completing an order. Traditional lenders like banks and traditional NBFCs offer SME loans at lower interest rate but are very slow in approving and disbursing a loan. Thankfully the situation has now changed and a lot of new age financial institutions have entered the SME lending space. These lenders (known as Fintech lenders) offer quick and easy short-term loans that ensure the day to day operations don’t stop. Unsecured business loans from such lenders, come handy to keep the business afloat.
Benefit: A small business loan gives you the peace of mind and allows you to focus on matters related to growth and new business. A timely application for a small business loan prevents loss of big orders, income and even ensures continuous production and output.

5. Small Business Loans as Contingency Funds: Unsecured business loans for SMEs come handy for the unexpected situation that a small business may encounter. Taking out a business loan, instead of using your credit card or personal, is always a safer bet. Business loans from a reliable lender ensures that business productivity is maintained with no effect on your personal finances.
Benefit: Taking up a short-term loan to recover from unexpected financial challengescan be more cost effective than using your credit card, which may attract higher interest rates.However, make sure you don’t act in haste. Research your options well and take the best loan available from a trusted lender.

6. Debt Consolidation: Taking small working capital loans for your business is a great way to consolidate debt. More often, than never, small businesses find themselves facing multiple debts. Thus, for the ease of management of such credit crisis, it is recommended that you obtain a loan that helps you pay off the debts on time. It is also advised that you deal with one loan instead of several. However, a word of caution here is, do not lose control. Otherwise you will end up in debt trap. Use unsecured loans for debt consolidation only when really needed.
Benefit: SME loans can take loan to cover urgent needs and avert a loss of income or revenue. An added advantage of doing so is to take advantage of better interest rates, cleaner books and savings in the long term.

SMEcorner is a trusted name in the SME lending space. Located in Mumbai, this fintech company helps small and medium enterprises with unsecured business loans between 2 to 30 lakhs. All you need to do is fill in a simple online application form and know your loan eligibility immediately. If you can produce the required supporting documents, you can get a loan in your account in as-fast-as 3 working days. Visit www.smecorner.com or call 9987535888 to know more about SMEcorner’s loan products.

 

6 Ways To Fund Your Small Business

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Financing your small business in the existing economic landscape, calls for some innovative thinking. Today, small business owners are forced to think of beyond the traditional ways of business financing. Traditionally SMEs have been the main drivers of a nation’s economic growth and wellbeing. However, business owners, often find themselves running pillar to post when it comes to financing their small businesses in India.

The money is out there, but timely access to it is no less than scaling the Everest. The recent digitization push, by the government, has eased matters to certain extent. But quick access to small business finance is still a challenge. Furthermore, since SMEs tend to heavily rely, on one or two traditional funding partners, it often gives way to unexpected financial crisis situation.
Are you able to relate to this? Well don’t worry, SMEcorner suggests you keep your options open. If not anything you will at least be able to compare business loan offers from various sources.
Keeping that in mind, SMEcorner suggests, the following 5 different ways of SME financing:
1. Bootstrapping: A common traditional type of business funding, where a small business owner self-funds his business from his/her personal savings. However, business financing from personal savings is not advisable for small businesses that have been around for 2 or more years. Borrowing from an external or debt financing is the best way to go forward.

2. Friends and family.
This way of business financing is ok if you are looking for sudden and one-time infusion of funds into the business. While tapping into your inner circle of friends and family is the easiest way of getting money, its perhaps better you keep your personal and business relations separate. For long term business funding, look at more professional and risk-free options. SMEcorner offers collateral free business loans in India, in just 3 business days.

3. Term loans
This type of loan is every small business owners favorite. Under a term loan facility, one can borrow a lump sum amount at one go and pay it back in set installments by a certain date.  Usually, term loans have fixed interest rates and some offer variable interest. The average small business loan term offered by various lenders spans anywhere, between 6 months to 36 months. SMEcorner offers unsecured small business loans with a minimum 6-month tenor. All you need to do, is fill in a simple online application to know your eligibility instantly and receive the funds in as fast as 3 business days.

4. Loans from Banks
Attracting funds from banks is a tricky business. You need to be really patient with them. Banks have the most stringent criteria when it comes to giving a small business loan. To get a loan sanctioned from a bank, you need to have a good business plan, profitable projections and a positive P&L and balance sheet. Unfortunately, most SMEs do not fulfil all the criteria. Thus, the high rate of SME loan rejections by banks. These days there are many companies that specialize in helping small businesses get quick and easy access to funds. They can help you with collateral free business financing in a matter of days.

5. Lines of credit
If your small business is seeking a temporary, or small infusion of working capital a line of credit is worth a try. Most banks offer it, but again, banks come with their long checklist and extended wait time. Now given that most banks are dismissive of SME financing needs, unless one can produce some good collaterals and a positive balance sheet, it is always advisable that one looks beyond banks.

6. Venture capital
Most suited for SMEs that have become profitable and are looking for nothing less than 1Cr plus in funding. Venture capitalists, directly take a major stake in equity and control of your business, so think before you this route. Besides this, you need a lead time of at least 6 months to research, prepare and raise funds.

Regardless of which business financing option you choose, chances are that you may have to take one or these financing instruments, at some point of your business life cycle.  At the end of the day, every business owner wants to do what he/she knows best; pay full attention to your business growth. This will be only be possible if you are able to arrange a reliable and viable funding solution for your business. This way you are not only able to maintain your day-to-day operations but also focus on profitability and growth.

SMEcorner is an online SME lending company that offers unsecured business finance for small businesses. Their advanced lending platform eliminates the entire leg work (running from bank to bank), out of your way and you can get a loan in as fast as 3 working days. Visit  https://www.smecorner.com/ or call 9987535888 to know your small business financing options.

SMEcorner to Provide Financial Assistance to SMEs; Ties Up with Flipkart to Help Small Sellers

A new online platform has been set up in India to address the needs of diverse Small and Medium Enterprises, called SMEcorner.com. The company is currently working with Flipkart to arrange finance for its sellers.
The initiative has been taken to address the debt financing gap in the SME sector. “If we look at the data collected by International Finance Corporation (IFC), around 41 percent of the SMEs in India do not have access to bank loans or other related products offered by financial institutions. IFC reports a financing demand gap of INR 2.93 trillion in the SME sector. This is the gap that we aim to target and bridge through our new venture,” said Samir Bhatia, Founder & CEO, SMEcorner.com

As in case of partnership with Flipkart, when sellers on the online marketplace require financing, they are directed to SMECorner. Sellers can access the Flipkart button on the website and apply for a loan online by filling in details. After a preliminary credit analysis to figure out the seller’s credit-worthiness, an application is sent to partner banks and NBFCs, to increase the chances of getting a loan.
SMEcorner.com offers hassle – free loan accessibility options, to help combat challenges of follow–ups, arduous documentation, unprofessional intermediaries etc.  It has tools such as Loan Eligibility Calculator and Loan EMI Calculator.
To begin with, this new setup is offering 4 different categories of products: Working Capital Loan, Loan Against Property, Unsecured Business Loan and Loan for Medical Equipment.
Our objective is to play an important role in contributing to the growth of the country by unearthing the capabilities of the SME sector. With talent and opportunities unfolding, we aim to provide a one-stop–shop with flexible financial solutions for the SME sector,” Mr Bhatia added. For more details, Visit our website – https://www.smecorner.com/

Address- Office No: 409 & 410,
4th Floor,
Trade World, Kamala Mills,
Senapati Bapat Marg,
Lower Parel West,
Mumbai-400013
Phone No-(022)24213200
Website – https://www.smecorner.com/

How to Determine Your Working Capital Needs

Every business goes through a cyclical process. It has its own financial ups and downs during round the year. While we all hope that our business makes profits through the year, that seldom happens. It is a long gestation period before your growth and profitability graph stabilizes. Had it been just the customers you had to worry about, it would be fine. Unfortunately, that’s not the case. Your costs are already rising by now, and you find it difficult to keep the business afloat. This can create tough times for small businesses.  Thus, it becomes imperative that businesses find ways to secure themselves from cash-flow deficit during those lean periods.
So how exactly you prepare yourself for such situations? Well, the answer is a working capital loan. Whilst there are many ways you can fund your business, working capital loans in India can help you make it through those rough tides.
Working Capital Loans are handy small business financing tools that that help SMEs maintain a cushion of operating finance during the quiet days. Small businesses, typically use working capital loans to cover petty expenses, finance the day-to-day operations, pay for long-term investments and cover accounts payable and salaries for employees. Besides this working capital loans in India, can also help you purchase those crucial equipment and technologies that will boost your growth & profitability graphs.

Where Can You Get a Working Capital Loan in India?
The first thing that comes to your mind, when you think quick cash is family and friends. While this is an age-old practice of borrowing quick money, but these are often tricky and very expensive.
The second most obvious option that comes to mind are banks. However, banks can take a long time, minimum 3 weeks, to review your business’ financial status before approving your loan. Disbursal could take another 2-3 weeks if you are not able to provide all the required documents and collaterals on time. But small businesses cannot wait that long, because the requirement is for now.
The third type of working capital lender are non-banking financial companies or NBFCs. They offer various types of secured and unsecured working capital loans in India, faster than the traditional banks.
With advent of technology, a new breed of NBFCs, called Fintechs have come up. Fintech lenders offer online working capital loans in India with minimal paperwork. Many Fintech lenders offer unsecured loans so you need not worry if you do not have enough collaterals to produce.
Finding the right working capital loan that best fits your needs and at the most competitive rates takes time and patience. With so many lenders in the market, don’t be in a rush to borrow from the first . For more details, Visit our website https://www.smecorner.com/

What Are The Alternate Ways Of Funding SME?

SME financing in India has always been difficult in India. While large to enterprise level businesses have enough cash reserves to fund their working capital requirements, small medium businesses, almost always, are in a need of constant infusion of working capital. No one likes being caught in an unwanted cash crisis that might lead you to miss out on some potential profit opportunities. While most SMEs will relate to this scenario, you can keep such adverse situations away, if you plan well ahead.

The first step towards creating a good inflow of finances, is by knowing your business well. To know when will the next requirement of business funds arise, you must be on top of the following three:
Know your industry
Know the growth rate of your business
Know, where you are in the lifecycle of your business

The key sign of a healthy and profitable business is an efficient operating cycle that can be fully funded by, ready to use, working capital on hand. While a lot of options are available in the market these days, here are the top 5 non-banking ways of financing your business with short-term working capital.

1. Equity: Typically, most young businesses, heavily rely on equity funding to meet their short-term working capital needs. These funds might be injected from your own personal resources or from a family member, a friend or a third-party investor.

2. Trade creditors: Such financing can be accessed if you maintain good relationship with your creditors. If you have maintained a good repayment history, trade creditors are often willing to help with short-term loan for small businesses in India, against collateral or guarantee.

3.Factoring: A somewhat expensive type of business financing, that is often used by young small businesses. Factoring companies buy out your accounts receivable at a higher cost and handles the collection.

4.Line of credit: Easily available to small businesses that are more than 2-3 years old, a line of credit, enables you to access quick business funding to meet your short-term capital needs.  A line of credit is given by banks, only if your business is well-funded by equity and you have some good collaterals to offer.

5.Unsecured Business Loans: If your business did not qualify for a line of credit from a bank, this is the best option for you. SME financing has become easily available from non-banking lenders also called NBFCs to meet your short term working capital needs. These loans are usually unsecured, meaning you do not have to give a collateral to receive the money, and come with a loan tenure of 1-5 years.
Off Lately, the Indian government has given a huge push to the digital transaction sector and rolled out many SME friendly policies and regulations. Today there are more than a dozen online lenders in the market that offer easy and quick access to loans for small businesses in India.

Now that you know, timely SME financing can be a game changer for your small business, you must plan your growth and cash requirements well.

SMEcorner is a company that offers SME financing for small businesses in India in as-fast-as 3 working days. All you need to do is fill in a quick online application, provide some banking and financial data (e-copy) and your working capital loan could be on its way.

Feel free to visit  https://www.smecorner.com/ or call 9987535888 to learn how our working capital loan products can help your business growth.