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Divyanshu Singh - 94 - Tyco - Edp - Exp 6
Divyanshu Singh - 94 - Tyco - Edp - Exp 6
Divyanshu Singh - 94 - Tyco - Edp - Exp 6
Experiment No. 6:
Visit a bank/financial institution to enquire about various funding schemes
for small scale enterprise.
Funding Schemes :
Here are 3 features of SmartUp Account which can be beneficial to your start-
up:
1) Cash Deposit
➢ You can enjoy 25 free transactions per month, upto Rs. 100 lakhs for the Alpha
Current Account, and 60 transactions up to Rs. 200 lakhs a month.
2) Credit Card
➢ You can manage your business expenses with a Credit Card backed by Fixed
Deposit. The card allows a credit limit upto 75% of your FD amount.
3) Tax Payment
➢ The digital payment option also allows you to pay your organization’s taxes, as
the bank is authorized to collect direct and indirect taxes.
➢ These loans are mostly available for existing businesses, though some lenders
offer Small Business Loans or SME for start-ups as well. One such Loan is the
Line of Credit or LOC, which mostly caters to small to medium sized
businesses, for female entrepreneurs.
Eligibility: A credible credit score is very important which is used by the lender
to establish the final eligibility of the applicant for the loan. Personal and business
related documents are also required.
Benefits:
Conclusion: Hence the survey of HDFC Bank was conducted for knowing
various funding schemes for small scale enterprise provided by it.