Financing is the toughest part of running a business. Money flow should not stop for the daily functioning of any business. There should always be adequate funds ready for expansion, further investments, and taking care of the day-to-day operational expenses. But money does not rain down from the skies. The entrepreneur needs to arrange for the funds, either internally or from external sources.
The most popular way to get access to a large fund is through external credit. Credit can be from individuals, financial companies, or even banks. With banks, there is a problem. Before issuing credit or loans, these institutions demand a lot of paperwork to be done. They need guarantees, mortgages, security, credit score, and several forms of identification apart from another scrutiny. This extensive processing means that the approval for the loan and its disbursal will take time. But it does not necessarily have to be this …