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Sources of Funds for Business
Banks are the most common source of funds for business loans. Businesses can get funds from banks in the form of cash credit, overdraft, term loan, purchase/discounting of bills, or issue of letter of credit. Banks include nationalised banks as well as Co-operative banks. Based on the bank’s lending policy, the parameters for sanctioning the business loans are decided.
NBFCs or Non-Banking Financial Companies are another type of funding agencies, which sanction funds to businesses in the form of credit facilities such as business loans. The lending parameters of NBFCs are in many ways different than those of nationalised or co-operative banks. NBFCs issue customised loans i.e. Customized rate of interest, duration, margin money requirement etc. based on the needs of the business applying for the loan.
MFIs in India exist as NGOs (registered as societies or trusts), Section 25 companies (Not for Profit companies) and NBFCs.The concept of Micro finance was launched in India in 1992. Micro finance is the provision of thrift, credit and other financial services and products of a very small amount to the poor in the rural, semi-urban and urban areas for enabling them to raise their income levels and improve living standard.
deAsra services for Managing & Starting
Small Businesses Supported
Loan Amount Facilitated
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CIBIL (Credit Information Bureau (India) Limited) score is a three-digit numeric summary of your credit history. The score is derived by using details found in the accounts and enquiries section on Credit Information Report (CIR). CIR includes details of credit availed by individuals such as home loan, automobile loan, credit card, personal loan, overdraft facilities over a period of time. CIBIL score is one of the first checks that a lender does when they are evaluating your loan proposal.
A loan that is taken in order to cover the short-term operational needs of the business is known as a working capital loan. Working Capital loan amount is invested in the current assets of the business such as raw materials, work-in-progress, finished goods, receivables, cash, etc.
Collateral is additional security which is provided by the borrower to the lender to secure the loan amount. It can be seized by the lender in case of any default in repayment of the loan.
Margin money is the owner’s or promoter’s contribution which is calculated as a percentage of the total project cost. In case of a loan, the applicant has to gather this margin money amount before sanctioning the loan. Generally, financial institutions demand a minimum of 25% of the total project cost as margin money.
Our partners in the journey
deAsra is associated with many organizations in the mission of promoting mass entrepreneurship.These organizations include funding partners, service partners, like-minded NGO’s and CSR’s working towards generating jobs through entrepreneurship, and entrepreneur clubs