Do you often face the situation of a gap between funds required and those available in the business for monthly expenses? Need to make payments on ‘day 1' to your suppliers and vendors? Not left with enough cash for your business expansion plans?
At the end of every month startup founders and small merchants face these financial roadblocks, and often rely on a credit line, be it BNPL or a traditional bill discounting facility. However, these facilities don't ensure you receive the funds as and when you need them. A standard BNPL credit line will require you to register with a lender, go through arduous credit underwriting procedures, never ending KYC checks in addition to impacting your credit score every time you get rejected! Further the BNPL credit line has restricted usage to specific vendors / payables.
Not the most convenient and flexible funding option right?
What if there is a solution that you already have and now has more flexibility and leverage - Credit cards. Yes! A ready solution that you already possess! Credit Cards are an underrated tool for business payments which provides easy access to working capital and offer rewards like cash back or points. When you pay your vendors with a credit card you also get 45-50 days of an extended credit line on your payments, this allows you to focus more on your core business operations.
You may wonder, is it even possible that your vendor/supplier will accept your card?
Well, we have a solution to that! The BharatNxt App allows you to pay your suppliers with a credit card. All you need to do is add your supplier as the beneficiary and transfer the money using your credit card to their bank account. Alternatively your suppliers, also provide you with cash discounts since they've been paid on day 0.
In a nutshell, the card you own provides your business with a lifeline and saves your time !
So next time, think twice before applying for a BNPL line.