Mistakes That First-Time Small Business Loan Recipients Make - PowerPoint PPT Presentation

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Mistakes That First-Time Small Business Loan Recipients Make

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While the answer to how to get a small business loan is quite simple, what you must be concerned about are the small business loan mistakes made by first-time loan recipients. Today, let us look at the most common small business loan mistakes in India and ways to avoid them. – PowerPoint PPT presentation

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Title: Mistakes That First-Time Small Business Loan Recipients Make


1
Mistakes That First-Time Small Business Loan
Recipients Make
2
Missing EMI deadlines
1
  • It will impact your credit history and future
    borrowing capability.

3
Hiding cash flow issues
2
  • Informing the lender about this issue will help
    you with loan restructuring.

4
Misunderstanding the costs of the loan
3
  • A small business loan comes with processing fee,
    prepayment charge, etc.

5
Misjudging your requirements
4
  • Over leveraging the loan amount can result in
    higher interest payments.

6
Not nurturing a relationship with the lender
5
  • It will affect your future borrowing capacity and
    may result in higher interest rates on future
    loans.

7
To make the most of your small business loan,
avoid the common mistakes listed above.
6
8
Thank You !
  • Would Love to hear from you.
  • Hero Fincorp Limited
  • 09, Basant Lok, Vasant Vihar, New Delhi - 110057
  • Tel 18001024145
  • Email corporate_at_herofincorp.com
  • Website https//www.herofincorp.com/
  • Know More https//www.herofincorp.com/blog/mista
    kes-that-first-time-small-business-loan-recipients
    -make
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