Ways To Get A Working Capital Loan With A Low Credit Score

By Author: Aanya Bhat
Total Articles: 4
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When applying for a business loan like the working capital loan, your “business credit score” is of prime importance. Business credit score objectively defines the creditworthiness of a company and helps banking agencies & non-banking credit providers analyze the risks of lending money to any business. Business scores are measured across various standards, the most popular being the CIBIL score in India. A good credit score (700-900 CIBIL score) helps avail corporate facilities & working capital loans with ease. But for those without a credit history (usually for the newer start-ups) or with a poor credit score, availing business loans or even a corporate credit card can be nightmarish. Add to it the pandemic havoc and consequent stagflation projecting a dim future for our entrepreneurs. This has also led many Indian MSMEs to struggle with business payments and financing working capital for sustenance. To boost the economy and help small and medium entrepreneurs with finances, India’s fastest growing fintech platform, EnKash, has launched a series of corporate cards like the EnKash Credit card. The unique feature ...
... is its availability to even those with a low credit score. A Corporate Credit Card is essentially a multi-user credit card issued by the employer to its employees for business payments and related expenses. It has multiple uses and employer benefits and helps your day-to-day business finance needs (“working capital”), without raising impractical business loans.
Unlike other corporate credit cards, the EnKash Credit Card is designed as an multi-utility credit card that can be used by all teams & employees with no special training. It covers not just the standard credit card use cases but also takes it a notch higher by allowing companies to pay for their GST bills, supplier & vendor payments, etc. with the least risk of internal or external fraud. EnKash delivers real-time spending visibility along with a unique WhatsApp tracking feature for all the spends across the cards, your data is always safe, and your money is at the control of your fingertip.