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

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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/