Private lenders are the individuals who are willing to lend money to the businesses in need. These lenders are the most common source of lending medium for small businesses in India. The reason that these lenders are in demand is that they don’t give much preference to credit score. The ease of lending via private lenders is something that attracts businesses the most.
Small businesses generally face the problem of rejection from banks because they are unable to meet up their requirements. Even if you have a great idea but there is no collateral then you will not be able to raise loans from banks. Then private lenders come to the rescue as they understand the need for an entrepreneur and step up to invest in their business.
Small businesses preferred banks for their lending needs but now the time has changed. The services offered by NBFCs are way better than others so small businesses prefer this mode of lending. Let's see the advantages of taking business loan from NBFCs:
This platform is offering a marketplace where businesses and private lenders can meet to fulfill their requirements. Both lender and businesses now have the opportunity connect at one common place. The barrier of finding a lender is removed with the help of this platform. If you are interested in this opportunity then register now at BusinessEx. For more information, contact us.