{"id":5536,"date":"2019-02-28T09:44:00","date_gmt":"2019-02-28T09:44:00","guid":{"rendered":"\/blog\/?p=5536"},"modified":"2020-01-10T09:50:44","modified_gmt":"2020-01-10T09:50:44","slug":"trends-transforming-online-business-lending","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/loan-for-business\/trends-transforming-online-business-lending\/","title":{"rendered":"Trends Transforming Online Business Lending"},"content":{"rendered":"\n<p>India\u2019s focus on digital transformation in the last few\nyears coupled with other path-breaking\nefforts such as the Jan Dhan Yojana and the Direct Benefit Transfer scheme by\nthe government has opened up vast space in the business of lending more\nspecifically in the business lending space. The digital push by the government\nand Corporate India have made sourcing of funds relatively easy today, small-time entrepreneurs can now hope to secure\nfunds to develop their businesses.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" href=\"https:\/\/tata-blog.osian.dev\/business-loan.html\">Know More<\/a><\/div>\n\n\n\n<p>All lenders have adopted online technologies to pass on the\nbenefit to the borrowers exponentially. Borrowers today can look up to quick\nprocessing of loan applications, quick due diligence and quick disbursal.<\/p>\n\n\n\n<p>The lending to business borrowers is gaining momentum\nbecause of several trends. We list the following 8 trends that will transform\nthe business lending space.<\/p>\n\n\n\n<p><strong>1.\nGovernments\u2019 push towards the inclusion\nof all strata of society in building India\u2019s economy<\/strong><\/p>\n\n\n\n<p>The governments at the centre\nand states have launched various schemes such as Skill India, Make in India,\nStartup India and Standup India. These schemes encourage aspiring entrepreneurs\nto start their own businesses. Lenders have a captive audience to cater to.<\/p>\n\n\n\n<p><strong>2.\nSocial, Mobile, Analytics and Cloud (SMAC) Technologies will Drive SME\nbusinesses<\/strong><\/p>\n\n\n\n<p>Lenders are adopting various cutting edge technologies such\nas Internet of Things, blockchain, machine learning and artificial\nintelligence to harness their power to fine tune their loan offerings to\nborrowers. These are also available to borrowers who can leverage these\ntechnologies to improve their businesses in terms of both top line and bottom\nline numbers.<\/p>\n\n\n\n<p><strong>3.\nMany Unconventional Financial Technology Companies are Sprouting <\/strong><\/p>\n\n\n\n<p>The financial industry is seeing the emergence of new forms\nof financial institutions using technology as a base known as financial\ntechnology companies (Fintech). Fintech companies use technology to collect\ndata from businesses to analyze rapidly and transparently to enable business\nowners to avail funds quickly. Fintech companies take away the burden of cash\nflows from the business owners allowing them to focus on improving their\nbusinesses. Such type of funding is also known as alternate funding.&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p><strong>4.\nE-commerce is Helping Businesses to Grow<\/strong><\/p>\n\n\n\n<p>The traditional brick and mortar store is beginning to adopt\nthe E-commerce route and by one estimate\nabout half of the businesses are already embracing Ecommerce. The growth of E-commerce and the availability of professional\nlogistics have increased the reach of small businesses to encompass the whole\nof India and in some cases globally.<\/p>\n\n\n\n<p><strong>5.\nRegulatory Framework to Streamline Fintech Companies&nbsp; <\/strong><\/p>\n\n\n\n<p>Fintech companies will need to comply with regulatory\nmechanisms created by statutory authorities. The exposure to KYC system and\nAadhaar authentication will hasten the smooth transition to a transparent\nsystem reducing the scope for frauds and\nmisuse. <\/p>\n\n\n\n<p><strong>7.\nGST Implementation Allows Pan India Market<\/strong><\/p>\n\n\n\n<p>Prior to GST, businesses had to face hurdles of incidence of\na variety of statutory levies when they\nwanted to sell products and services to other states. The statutory levies\nincluded VAT, service tax, excise, cess, luxury tax, entry tax and Octroi\nbesides central sales tax. Each state had its own rates and conducting\nbusinesses out of state was acutely cumbersome telling on the operational\nefficiency of the businesses as they had to store and maintain huge amount of records. With GST, all the\nstatutory levies get subsumed into CGST, SGST and IGST calling for lesser number of records. The GSTN network took\ncare of the storage and maintenance of records once the businesses entered the\nbasic transactions on to the system. With this, businesses can become more\ncompetitive as there is a level playing field. The earlier reticence in\nconducting business out of state is no longer there. Businesses would want to\nexpand into the all India market thus leading to business expansion.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n\n\n\n<p><strong>8.\nRobust Digital Infrastructure with India Stack <\/strong><\/p>\n\n\n\n<p>The creation of a set of APIs under the India Stack\ninitiative allowing various stakeholders including businesses, developers,\nstartups and governments to provide services that are cashless and paperless is\ndriving the Fintech companies in a big way.&nbsp;&nbsp;&nbsp;&nbsp;\n<\/p>\n\n\n\n<p>Financial institutions such as banks and NBFCs such as Tata Capital are at the forefront of lending to a vast spectrum of borrowers who need funds for acquiring a home, an automobile, pursuing higher education or starting or expanding a business. To help medium and small businesses, Tata Capital has tied up with Fintech companies such as Capital Float to offer working capital loans to business owners and Biz2Credit to offer finance to small businesses. These are online resources that provide services in an effortless manner.<\/p>\n\n\n\n<div class=\"wp-block-button aligncenter\"><a class=\"wp-block-button__link has-background has-vivid-cyan-blue-background-color\" href=\"https:\/\/tata-blog.osian.dev\/online\/loans\/business-loans\/home#!\">Apply Now<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>India\u2019s focus on digital transformation in the last few years coupled with other path-breaking efforts such as the Jan Dhan Yojana. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/business-loan\/trends-transforming-online-business-lending\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":5540,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"class_list":["post-5536","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-loan-for-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Trends that Transform Online Business Lending - Business Loan Blog by Tata Capital<\/title>\n<meta name=\"description\" content=\"The digital push by the government and Corporate India have made sourcing of funds relatively easy. Read this Tata Capital Business Loans blog to understand how trends lately are changing business lending online.\" \/>\n<meta name=\"robots\" content=\"noindex, nofollow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trends that Transform Online Business Lending - Business Loan Blog by Tata Capital\" \/>\n<meta property=\"og:description\" content=\"The digital push by the government and Corporate India have made sourcing of funds relatively easy. 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