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Why A Startup Must Choose A NBFC Over Bank For A New Business Loan

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  Are you worried about funds to start your startup? Or are you worried about funds to run and expand your startup? In either case, this blog will help you to solve your crucial problem, which is the source to get loans for small business /startups.  What is a startup A startup is a young company started by one or more entrepreneurs with a unique product or service which they want to develop and bring to the market. Initially, it is funded by the founder’s own money. The startup process can take a long period.  Initially, startup faces a high level of uncertainty and challenges. Many face failure but few startups become successful ventures.  Some become Unicorns that are privately held startup companies valued at US$ 1 billion. Challenges When starting a business a new entrepreneur faces many challenges like • High competition in the market. • Hiring skilled candidates within a limited budget. • To acquire customers. • Dealing with unknown. • Unrealistic expectations. • Lea
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How to write a compelling business loan request letter

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Running a business is not that simple as you need funds from time to time to cater to your requirement and take advantage of opportunities that come your way. This fund requirement can be fulfilled by an SME business loan . One can get a business loan from banks or NBFCs. In order to get your business loan approved you need a compelling business loan request letter. In this article, we are going to discuss how to write a compelling business loan letter and what points to keep in mind while writing it. But before that, let’s discuss a little bit about business loans. A business loan is a loan that you take from either a bank or NBFC to support your urgent needs to grow your business. It is a way to add more funds to your business without changing the ownership in any way. That’s why a business loan is an extremely vital part of your business. It can help you to start, run, and expand your business. It can be secured or unsecured but primarily it is an unsecured loan. The interest
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