What to do when the business loan is refused

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• What to do when the business loan is refused
• Capital and funding are the indispensable
  attributes of any business. Be it small or a
  large business firm, funding is a prerequisite.
  After you have exhausted the savings and other
  sources of funding, you resort to taking either
  a Loan Against Property or a business loan.
  Taking a Business Loan in Delhi is not different
  than taking one in another city. So if you are
  from Delhi, you must take the loan from the same
  city and not get involved with the rate of
  interest offered in a small city. This may allure
  you, but it will not be easy for your as
  documentation needs are large and must be
  fulfilled so you get the loan. However, if you
  are rejected a loan in Delhi, this is what you
  must do
• Analyze the reason for denial Sometimes a
  pre-approved loan is also rejected giving a good
  blow to your business. In this case, do not let
  this go. Find out the reason behind the rejection
  which may be due to various factors ranging from
  the business location to the operational strategy
  of the business or even an idea that was not
  supported by the lender. Upon scrutiny and
  seeking help from the bank employees, when you
  know the reason, it is best that you work on that
  factor and apply again.
• Evaluate the financial prominence of the
  business Sometimes we have to think from the
  lender's point of view and this calls for
  revisiting the financial stature of the business.
  If there is collateral involved evaluate the
  value of that too as a Loan Against Property also
  sometimes is not enough for a large sum of
  money. Other reasons could be debt that the
  company is into and wishes to pay off that
  through the loan. However, the purpose of the
  loan is not to pay off Debt but to expand the
  business. Try to find the grass-root issue in
  finances and move ahead with an improvised
  proposal for the loan.
• These are the two steps that can help you reapply
  and get a Business Loan In Delhi or any other
  location where you wish to have the business
  operations. However, planning about the debts,
  and other factors that affect the Cibil Score
  must be avoided to have a good financial standing
  in the market.