For small business owners, availing a working capital loan may not always be a cake walk. Granted, today there are numerous new-age avenues that owners of small businesses can approach for quicker, more convenient and easier loans than ever before. However, there are still times when a borrower is refused a loan and he is given no clear indication of why the loan has been declined. Receiving coherent feedback can prevent him from repeating past mistakes and help him prepare better the next time.
Key Reasons -
*Poor CIBIL score
*Delay in meeting loan repayment obligations in the past
*Low Business Vintage
*Financial discipline issues
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