Q&A library

We are running pre-primary and primary school since last 5 years in semi urban area of Karnataka state. We are looking for a loan or fund support up to 1 Cr for establishing new school building, infrastructure and other key elements. Our school has a good financial track record. Please let us know how to avail the loan?
Questioned by Basavaraj, Karnataka
Nationalised banks, Private / scheduled banks and Non-Banking Financial Institutions are favourable for lending to establish a pre-primary and primary school. Banks/NBFCs would typically provide loans to construct buildings, interior, furniture or equipment. Banks/NBFCs do not fund operational expenditure such as staff salary, maintenance, rental, utility bill, etc., Therefore, it is important that you draw out a cash flow statement for at least one year and systematise loan amount for investment in long-term assets (building, furniture, etc.), which can be funded by the Bank/NBFC. Any shortfall in operational expenditure have to be supported by other funds available with the promoters. State Bank of India (School Plus), Bank of Baroda (Baroda Vidyasthali Loan) and other banks provides special term loan schemes for existing schools in order to repair / renovate / add new buildings or purchase of electronics equipment, computers and laboratory equipment, books, manuals, furniture and other utility fixtures. To avail the loan, the first step is to decide whom you want to approach. The next step is to prepare the documents for completing the loan application. Thereafter file the loan application. Once application is submitted, you should prepare answers for the queries that could be asked by the bank/NBFC officials. Eligibility for Bank/NBFC Loan depends many factors including loan amount, valuation of the property, and clarity of other documentation.

Currently we are running a boutique at our home. We are planning to shift the boutique from our home to a shop with tailoring and designing. Please guide us.
Questioned by Rishi Yadav, Punjab
It will be good to do so, but you would need to be mindful of the increase in expenditure if you plan to hire a space and how you can follow the current guidelines of safety due to the pandemic. If you want to set up a shop you will also need to plan the layout, how to showcase and store merchandise and also ensure that you market the new shop, especially digitally. You could think of having a small store front and focus on selling more online.

I would like to start a business of women's nighty manufacturing. Please suggest a site or place where I can buy cloth rolls for stitching nighties.
Questioned by Deepa Mondal, Andaman and Nico.In.
You can consider looking for a wholesale market in your city/town or even small cloth makers who can directly sell to you rather than through retail. IndiaMart can also be considered as online options for purchasing raw materials.

My wife would like to learn any course related to skilled education or Vocational Education and Training. Kindly guide us on the process and opportunities available. 
Questioned by Alok, Maharashtra
The first step would be to explore all the different fields, courses and options out there and to decide which ones suit you best. There are numerous places that you can start : Register on Skill India Portal: https://skillindia.nsdcindia.org/ Or for online courses: https://eskillindia.org/ List of approved institutions that provide courses (Find one near you and contact them): https://www.aicte-india.org/education/vocational-education Explore Bharatskills or download the Bharatskills e-learning app: https://bharatskills.gov.in/ YouTube channel of National Instructional Media Institute: https://www.youtube.com/c/NIMIVirtualClassroom/videos Alternative Options: Platforms such as Coursera, Upgrad, Udemy etc. offer free and paid online courses. An internship or apprenticeship under someone experienced in the same field is also a good place to start.

I have recently started my online business. I would like to get inputs regarding online sales, marketing strategies and product promotion to develop my online business. Please advise
Questioned by GoINFI enterprises, Madhya Pradesh
The most effective way to reach out to potential customers right now would be on Facebook/Instagram. Create ads and run these ads targeting your customer. You can potentially reach a 1000 people for as low as 50 rupees. It’s the most effective way to increase your customer base and get your product to reach a huge audience.

I am working on a project to convert regular fans into BLDC fans for our area, mostly low income families. We need to convince people to buy these comparatively expensive fans by arranging financial services like EMI to them. But it is difficult to find anyone who would give such a small loan (2000-6000 INR). Is there a solution to that.
Questioned by Salim Javed, West Bengal
As your requirement is for extending the finance support of BLDC fan, catering to the low income based group, suggest you may approach any Micro Finance Institution in your area and understand if they would be interested to market your products to their customers as MFI’s will be able to help you with a wide reach to customers and help with a better market penetration. However before you approach them certain details have to be in place which is primary for the business roll out - like a detailed project report about the product you are marketing, market feasibility and detailed product information. It is also recommended to have an ISO certification of the product which is important and essential when you plan to go on a large scale.Alternatively, a consumer durable loan is a finance option for purchase of household items like washing machines, refrigerators, furniture, clothes. This consumer durable loan is available with Bajaj Finserv to fund small purchases, and can be paid back in flexible tenures. You can avail them easily on zero or low interest rates and get financing for up to 100% of your purchases.https://bit.ly/3maLaGi

I am a home baker and want to increase my business. I am not able to generate the amount to fulfil my daily expense. Please do help & guide me in this regard. Hoping for the best. Side by side I am also selling clothes, footwear, etc from home.
Questioned by Mohammed Azam Syed, Maharashtra
You need to identify if your products have any differentiating features or are the same as the rest. They need to have some unique features for clients to buy those bakes. Also conducting special online classes for baking of specific goods such as breads, biscuits or even cake decoration can generate income. Apart from that, try to find corporates or schools who can regularly order from you. That will result in a stable income over a period of time. You should also consider creating a social media presence such as an Instagram or Facebook page for your products. A separate page for food and other goods. This is how all the successful home businesses are reaching their markets. It also helps to display a variety of products to your prospective customers.A few things to keep in mind when you begin to go digital: Display good photos, be active on WhatsApp ad other social media apps, respond promptly to queries and be consistent. These will help you reach a mass audience within a short time. For more information, you can also refer to the marketing and branding answers which were already published on the website

I am an entrepreneur doing super distribution business of Fast moving consumer goods based out at Nagpur (Maharashtra state) and cover whole of Vidharbha area with a network of about 150 sub-db's under us. I am interested to enhance and diversify with a like-minded organisation, but I am finding it difficult to explore good companies who can be trusted for their ethics and marketing policies. We have an excellent coverage in the rural area and would like to expand, kindly guide.
The best way to reach out to businesses is to go through matured communities. An online matured community is something like network capital and Pushstart. Offline communities include clubs and BNI's ( which are now available online as well). These are the best places to meet business's/business owners who will have a similar entrepreneur mindset.

I am a tailor and have been affected a lot by the pandemic - please help me on how I can create a website for my business so that I can manage it online from home
Questioned by Rinku mahawar, Rajasthan
Starting online business may help to improve the business to a large extend. The following steps need to be followed to start a website. (1) Register your domain name - Your domain name should reflect your products or services so that your customers can easily find your business through a search engine. (2) Find a web hosting company - You will need to find a web hosting company to get your domain name on the internet. (3) Prepare your content - Think about what you want your customers to be able to do via your website. This will help you to work out what sections or pages you want to include. (4) Build your website - Websites need to be kept up to date, so make sure you plan for on-going maintenance. Since you offers skilled services, the more content you put on the website along with pictures, the better the engagement of your business will be. Also use other social media platforms which are free of cost such as Facebook, Instagram, Google My Business Account for a more active social media presence. These are great platforms for posting content and photos of the products/service. Using the right hashtags will enable a decent discovery of your page. Refer to https://www.nowfloats.com/ for digital assistance for your business.

I'm Shivaraj, a customer of Muthoot FinCorp. I need MSME loan for investing in my shop and I am waiting since last two months for the circular, but haven’t received any information regarding the loan. Kindly assist.
Questioned by SHIVARAJ, Karnataka
To avail an MSME loan, your organisation needs to be registered under MSME. To register please visit https://udyamregistration.gov.in/Government-of-India/Ministry-of-MSME/online-registration.htm

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