Financial Literacy

What is the Perfect Credit Score for a Small Business Loan?

To begin, small businesses typically base their operations on the investment received from reliable sources. In addition, they connect with lenders, big or small for business credit. Having said that, it is not that easy to have a small business loan. It is difficult to have a small business loan if the credit score dips below 620 and most lending institutions would rely on a score above seven hundred or so.

What are the considerations for a Small Business Loan?

The upper and lower limits set out by authorities are not that hard-pressed to qualify for a small business loan, yet one needs to be careful!

The concerned financial institution takes an individualistic view of the individual and his financial bearing. The decision is generally based on a varied number of factors to actually qualify for a small loan. The creditworthiness of the borrower is closely assessed to understand actual eligibility.

All small business loans offered by different lenders can have varying credit score standards. They could be stricter or softer for individuals depending on other crucial factors.

Small business loans are a special form of business loans for owners. The motive behind such offerings can be to encourage value-based businesses in India.

So, is there really a bare minimum credit score?

The premise of small business loans helps enthusiastic small businesses get financing. It does have strict requirements for good credit scores, besides other flying records. Out of all the small business loans, credit score minimums must meet a baseline to be fair to all.

APPLY NOW FOR SMALL BUSINESS LOAN UPTO Rs.2 LAKHS !!

Keep reading to understand whether a perfect credit score can really act miraculously for small businesses, or it can be a wasteful activity. It is a complicated affair to understand perfect CIBIL scores. It can make or break great ideas!

Yes No

Send us your suggestions

How to Get a Higher Credit Limit Easy?

Let us start with the main question whether you want to increase the credit limit or not.

Financial Literacy

Checklist for a Small Business Loan Application

Taking a small business loan from a reputed lender may increase your chances of quick loan approval.

Financial Literacy

The System of Aadhaar Based Virtual ID

Unique Identification authority of India (UIDAI) has launched Aadhaar Virtual ID also known as VID, a temporary ID to be used at all places.

Financial Literacy

Important Customer Advisory: Protect Yourself from Financial Frauds

At Home Credit, your financial safety and security are our highest priorities.

Financial Literacy

Reasons Why You Should Approach an Online Lender for Loans

We all need to borrow money at some point in our lives to fulfill our goals and desires.

Financial Literacy

Financial Lessons to be learnt this Diwali

Diwali, the festival of lights offers interesting financial lessons which can be used for future planning.

Financial Literacy

How Payments Banks are different from Regular Banks

Payment banks are primarily based on the new business model proposed by the Reserve Bank of India.

Financial Literacy

Safeguard Your Financial Journey with Home Credit Safe Pay

In a world that’s constantly evolving, financial security has taken on a new level of importance.

Financial Literacy

Ways Women Can Manage Their Finances Independently

In our patriarchal society, women have been put down for decades

Financial Literacy

Can’t find a guarantor for a loan? Here’s what your option

If we talk about a classic example, we should be able to go to the bank, submit our paperwork, and receive approval from them almost immediately – without any other detours.

Financial Literacy

Aadhaar Virtual ID – How Safe is it?

You will now be using your Aadhaar virtual ID or VID similarly as you utilize your Aadhaar card details when it comes to banking operations, telecom organizations and so on.

Financial Literacy

Credit Score – Facts & Myths

A credit score is a significant number for the lenders and borrowers, both. Along with the credit score, the credit report helps substantially o estimate the borrowing capacity of the prospects now and later.

Financial Literacy

Reasons Why Instant Loans Help You Overcome Emergency Situations

Life is unpredictable; you never know what it may have in store for you.

Financial Literacy

Why Are There Different Types Of Credit Scores?

The borrower’s credit history and trustworthiness become important criteria that help lenders decide whether to provide him or her with a loan or not when it comes to obtaining a collateral-free loan, whether it be a small business loan or a personal loan.

Financial Literacy

Aadhaar Virtual ID And its Benefits

Considering the protection of the individual information including the statistic and biometric data specified on the Aadhaar card, UIDAI has of late chosen to think of one of a kind element, named as Virtual Aadhaar ID.

Financial Literacy

Virtual ID in the Real World

Have you heard about Virtual ID? UIDAI introduced Virtual IDs after facing concerns over security of users’ data.

Financial Literacy

Tired of Unwanted Calls? Reclaim Your Peace with TRAI DND!

In today’s digital age, our phones are irreplaceable, but they also bring tons of unwanted calls and messages.

Financial Literacy

RBI Ki Fraud Ke Khilaf Ladai Mein Shaamil Hon: Bareilly Aur Pilibhit Mein Consumer Jagrukta Karyakram 

Bharatiya upbhokta ke roop mein, aapke paas fraaud ke khilaf ladne ke bohot se adhikar hote hain aur Reserve Bank of India unhe surakshit rakhne ke liye ek RBI Consumer Awareness Program shuru kar raha hai. Kanpur ke RBI Ombudsman Office aapko jagrukta ke madhyam se shakti pradaan karna chahta hai. 

Financial Literacy

How to Build Your Credit Score from Scratch?

Your credit score is a critical aspect of your financial health.

Financial Literacy

How to Get a Personal Loan for Self-Employed Individuals?

In today’s dynamic economy, more and more people are opting for self-employment as it offers flexibility and the opportunity to pursue one’s passion.

Financial Literacy

Instant Personal Loan In 3 Easy Steps

Traditionally, extensive documentation, manual processes, multiple bank visits, endless paperwork, and a long wait for disbursal were a part of availing a personal loan.

Financial Literacy

What is Cibil Score and Its Importance?

A CIBIL Credit report consists of all the particulars related to your borrowing history and the discipline of its repayment.

Financial Literacy

All You Need to Know About Credit Score

Have you ever been wondering about what a credit score is? What’s all the big fuss about it? Understanding them will benefit you at some time in your life.

Financial Literacy

Useful Tips for Personal Loan EMI Management

In today’s fast-paced world, personal loans have become an essential financial tool to meet various needs and aspirations.

Financial Literacy

Does the Purpose of Personal Loan Affects Loan Approval?

When it comes to personal finance, taking a personal loan is often seen as a versatile solution to meet various financial needs.

Financial Literacy

Pros and Cons of Long-Term Personal Loans

Personal loans are one of the most popular forms of borrowing, allowing individuals to obtain funds for various purposes

Financial Literacy

Personal Loans Vs. Mortgage: Choosing The Right Path To Financial Freedom

When it comes to achieving financial freedom, making the right choices about borrowing money can be a pivotal decision.

Financial Literacy

Understanding Personal Loan Interest Rates and Calculations

Personal loans can be a great way to manage big expenses or emergencies, but do you know how their interest is calculated? It’s not as tricky as it seems!