July 28, 2021 A Step Towards Developing India

Small Business Loan for Retailers

Small Retailers have a tricky business to run, one the one hand they need to have all possible stocks and sizes of popular brands that their customers might come calling for and on the other hand they have to place those orders with the distributors and manufacturing corporations and to earn margin they need to place orders in bulk as that’s where the multinationals and distributors offer better discounts. However, it takes time to liquidate those stocks and the end consumers take their own time to buy the goods. This creates a working capital gap and retailers need to pump in funds from outside to plug in this gap.

The options the retailers have to raise this money are limited. Borrowing from friends and family is a risky affair as it puts the relationships on the brink of danger and you would never wish to do that, the other option is to borrow money from local lenders. However, they charge astronomical interest rates which eventually makes it a loss making deal. Thus, the best option that the retailers have is to go for a small business loan in the name of retailer financing.

The Traditional lenders offer the small business loans to the retailers. However it comes with several problems. Firstly, they ask for collaterals in the form of pledging their home or shop premises to the lenders and quite often the small retailers do not have a owned property. Secondly, the traditional lenders ask for multiple documentations in the form of income tax returns and so on which is again a challenge for the small retailers to get the retailer financing. Thirdly, even if the small retailers qualify for retailer financing with the traditional lenders they take a lot of time in processing the small business loan applications, it takes weeks and often even months to process the applications, which defeats the entire process of applying for the small business loans.

Read More : Personal loans for renovations

This is where the digital lenders have proven to be a boon for the small retailers as they have revolutionized the way in which small retailers can get access to retailer financing. Unlike the traditional lenders who ask for collaterals and multiple documents to process a retailer financing application, the digital lenders look at the business transactions on the basis of which they analyze the creditworthiness of the small retailers which results is unsecured small business loans. The digital lenders look at the digital trace of transactions and in the case of small retailers they look at the transactions made against the card swipe machine and the digital wallets to get an understanding of the business patterns and cycle. Thus, the small retailers can get easy retailer financing basis their transactions against the card swipe machine and the payment wallets.

Indifi is a leading digital lender which has a specialized retailer financing product and they analyze the creditworthiness of small retailers on the basis of their digital transactions like payment wallets and card swipe machines. The process for getting this small business loan is really simple for the small retailers. They just have to fill a quick and simple online form with KYC and basic business details, Indifi then fetches the public data and analyzes the transactions against the card swipe machine and payment gateways, this analyzing and underwriting is an absolutely automated process and unlike the traditional lenders which take weeks to analyze at Indifi it is almost real time and the small retailers can get a decision on their retailer financing as early as within 24 hours.

Indifi also offers the flexible loan repayment options to the small retailers which means they can simply connect their repayment to transactions whereby the small amount gets debited against the transactions which eliminates the need of paying EMIs as repays the small business loan automatically, Indifi also offers other options like monthly, weekly and fortnightly installments as per the need of the small retailers. There is no prepayment penalty and managing loan applications is simple on the fast mobile app.

Thus, if you are a small retailer looking for retailer financing, the digital lenders are the best option you have to get your small business loans and Indifi is the leading digital lender that offers special product and small business loans up to INR 50 Lacs for the small retailers.

Related Posts

4 Essential Things To Know Before You Buy Shares

July 13, 2021

July 13, 2021

Investing on shares sounds like an easy task to do and it is indeed not that hard however, investing on...

Preparation Tips for SSC GD Constable General Awareness 2021 Exam

May 25, 2021

May 25, 2021

Conducted by the Staff Selection Commission, SSC GD Constable Exam is an examination that takes place for the recruitment of...

Is The Microsoft Certification Exam 70-762 Worth It?

May 23, 2021

May 23, 2021

This test is made arrangements for data base specialists who develop and do informational collections across affiliations and who ensure...

You can say these famous writers’ love quotes on your wedding anniversary with some additional words into them: Read whole

May 9, 2021

May 9, 2021

I don’t think so that other than India a husband is very much respected in any other country. I’m not...

Longtime Attorney in Binghamton Has Been Disbarred

May 9, 2021

May 9, 2021

New York State’s Attorney Grievance Committee has forced a Binghamton attorney to close his practice after disbarment. The court decided...

Career Development: What to Do and How Can IFFCOYuva Help With It

May 9, 2021

May 9, 2021

Career development does not happen overnight; it takes time. In fact, you are bound to face plenty of roadblocks in...

4 Amazing Benefits of Chakrasana | Yoga asana for healthy lungs

March 30, 2021

March 30, 2021

Yoga is all about determining who you are and what you want to be. Yoga is the basic fundamental to...

WHAT IS BOLLY2TOLLY?

March 27, 2021

March 27, 2021

Bolly2Tolly is a piracy website that offers free online streaming of Hindi, Malayalam, Tamil, Telugu, Bengali, and Kannada films. There...

What is all about OnionPlay? | Watch Latest HD Movies and

March 15, 2021

March 15, 2021

Onionplay is a site that is dedicated for watching movies. The live streaming of your favorite shows in television is...

5 Places To Visit In The World for Adventure Lovers

March 6, 2021

March 6, 2021

Adventure! Doesn’t it sound great and amazing to you? Well, it sounds amazing to anyone who is interested in adventure...

6 Helpful Tips for Future Restaurant Owners

March 6, 2021

March 6, 2021

Opening a restaurant is a dream for several people with entrepreneurial ambitions. However, only a handful of them eventually starts...

Job Categories You Can Apply For At IFFCOYuva

February 24, 2021

February 24, 2021

In line with the Prime Minister’s vision of Digital India and Skill India, the IFFCOYuva job portal aims to help...

Get Your Dream Home With A Loan Against Property In Vizag

February 24, 2021

February 24, 2021

Do you live in Vishakhapatnam or Vizag and have a home? Did you want to sell it off and buy...

Myths and Truths about Braces and Aligners

February 24, 2021

February 24, 2021

Braces make you look ugly and funny. Those wired teeth are like a big issue which can introduce a lot...

Knowing All About Light Balance in Pictures

February 24, 2021

February 24, 2021

Pictures base their perfection in different strategies but really small details that make them different from one another and some...

Comments
Leave a Reply

Your email address will not be published. Required fields are marked *