• KreditStreet

Why Banks Hate my Business

Updated: Mar 10

I've always wondered why the banks hate my business so much. I've always tried for a loan, it's been almost 3 years now. First they said it's a certificate of incorporation issue, then they said the trade licence is improper, but after GST the things have become better. Yes, now they can calculate my turnover at the click of a mouse. Many banks already know what margin I operate under, because I am a plastic trader. I started my business in 2009 with a turnover of Rs 50 Lakhs but it's a Rs 15 crore business now. I had only one employee to start with but things have really turned for the better with the export SOPs provided by the present government. I now regularly discount my LCs with minimal margins and share an excellent relationship with my bank



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