In an exclusive interview with SME Times, Shailesh Jacob, Founder & CEO of LoanFrame.com, a fintech company that provides a comprehensive range of financing solutions to small and medium scale enterprises, gives a thorough picture of the SME financing situation in the country.
He adds that India, compared to its global peers, has the most neglected SME sector, which is reeling under some major challenges such as lack of funds and higher interest rates, over-reliance of banks on large corporates as a customer base and demand of collateral by the financial institutions.
Excerpts from the interview…
Continue reading “LoanFrame offers entire portfolio of SME loan products: Shailesh Jacob | SME Times”
Small business loans are a popular way of funding business expansions. The growing popularity has led to an expansion in the number of loan products that finance companies have to offer to suit various needs. Typically in the case of MSMEs, lenders prefer to sanction secured business loans. This is because of perceptions about track record, repayment ability, and credit-worthiness that may not always be completely accurate. Nonetheless, secured loans remain the most viable choice for small businesses in need of a company loan.
Continue reading “Understand These 3 Terms Before Applying for a Small Business Loan”
Finance is quite rightly called the ‘Lifeblood of Business’. Short-term or long-term; managing working capital or capital finance; completing an order or strategic business expansion…. nothing works without business finance. When this criticality is seen alongside the poor state of SME financing, it is no surprise that the SME economic growth engine is often found sputtering.
Continue reading “Access to Finance: The Biggest Hurdle for SME Growth | Entrepreneur”