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  • Writer's pictureAparna Gayatri Devagiri Sriram

Episode 15: Getting a business loan - the banker’s perspective

Welcome to another episode of Her Business is Our Business where we Gayathri and Aparna look at Women Entrepreneurship beyond funding – sharing expertise, experiences and tools to grow your business.

This is one of our special episodes, where we interview Ms Padmaja Nair, a career banker and Retd GM State Bank of India.

This is one of our special episodes, where we interview Ms Padmaja Nair, a career banker and Retd GM State Bank of India.

She has had an exciting career journey starting from working with credits for small and large businesses to her stint at SBI capitals with the IPO at Air Deccan and Aircel. She has worked with SBI for over 36 years and retired as the GM Corporate Communications and CSR.

From sharing valuable information and insights on banking and loan application process for entrepreneurs to answering our queries related to the business of banking, she covers all the important aspects that an entrepreneur should know while planning to apply for a loan.

The interview begins with us asking Padmaja Nair a few basic questions about banking and her experience with women-owned businesses.

She also highlights an inspiring story of the woman entrepreneur, Sharadha Sharma of Your Story.

In the second segment, the topic of discussion shifts to specifics such as the business of banking, parameters to choose the right bank, things the banks look for as a part of the loan application, the rights of the customer and the bank, the five essential points that need to be a part of the entrepreneur's business profile.

Key Takeaways:

  • Choose the bank depending on the nature of your business and your requirements

  • Go to the bank well prepared and ask the right questions. This increases the chance of your application being considered

  • Three-year track record, Cash flow to service the loan, Nature of your business and Profit or loss statements are a few important parameters that a bank will look for on the loan application

  • Building a good relationship with the bank adds value in the long run

  • If your business is service-based, it is better to collateralise it

  • 5c's that must be included in an entrepreneur's business profile while approaching a bank for loan:

    • Capital - This shows how much you have invested and proves that you are serious about your own business

    • Condition of the loan - Your purpose for applying for the loan

    • Capacity to repay - Indicates the cash flow to service the loan

    • Collateral - Security and guarantee to repay the loan

    • Credit history - How does your credit history look

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