Embifi Global Services Pvt Ltd

The start-up economy has found roots in India, and everyone can confirm having at least one small business owner in their acquaintance. As the number of MSMEs are increasing across the country, so is the need for adequate business financing opportunities. Consequently, B2B lending platforms have risen to prominence, giving competition to traditional banks in the area of business finance. New business owners usually have some amount of hesitation while making credit decisions. This article has listed three primary dos and don’ts for those budding entrepreneurs who are applying for a business loan for the first time in their lives. THE DOS Prepare a Budget   You must have a detailed list of business expenses to be made from your loaned amount, with relevant reference to substantiate the numbers on your budget. This way you can prevent making any arbitrary decisions when you eventually have the credit in your hands.   Have a Repayment Plan   No lender will wan...

Buy Now Pay Later (BNPL), which was formerly a niche service limited to those with excellent credit histories, has recently become one of the most popular financial solutions. Unlike conventional credit solutions, BNPL gained traction with the introduction of lower ticket sizes and quick approval timelines. The B2B (business to business) BNPL has started expanding with strong financial products for SMEs, even though as of now the majority of BNPL offerings are only available to B2C (business to consumers).   The BNPLB2B model is where the seller receives a one-time payment of the entire price of sale from the buyer’s financier in exchange for the buyer paying the purchase price in installments over a predetermined period. This in turn leads to an increase in the average order value and conversion rates of sale.   SME is always short on time and is busy finding new suppliers or buyers and therefore, can ill afford to spend a lot of time on finding credit providers or curated cr...