How to get Project Funding?

1. How to get Project Funding? A lot of us have a dream of making our business successful and known to the world. All we need is a little push, it could be motivation, it could be one missing bit of a brilliant idea, or it could be the lack of funds also. In India ​Project funding is one of the most important yet not as a widely known aspect to the aspiring entrepreneurs. Before going ahead with the process to get project finance, it is essential to understand what exactly project funding means. What is Project Funding? To start any project, there are different kinds of requirements. Project funding is the most basic yet significant part of any business and generated in order to pay for the initial labour, capital, and other requirements. A project loan is provided to invest in new business setups, reconstruction, or expansion of an existing business enterprise. What are the Criteria for Project Funding? A project funding is provided considering certain important aspects on which the amount is decided. At the time of proposing a project finance the criteria that matter are as follows:

2. 1. Project Viability Analysis: The project viability is decided based on its economic pros and cons. If whatever benefits are to be made from the project economically are higher than the costs & expenditure, then the project is considered as viable. Such an analysis will allow the funding firms to know if the project is worth financing and if the proposing entity is capable of paying off the loan. 2. Mortgage Available: The mortgage is generally the project itself & the revenue to be generated from it. The concerned financial firm provides a loan only if there is enough mortgage available on the project. Potential in the venture is also considered by the lender to sanction the loan. 3. Payback Period of The Project: If the project takes too long & that there is no sooner way to generate revenue, there are chances that the proposal may even get rejected. In such cases certain professional ​project funding consultants will help you in drafting a proposal that will increase your chances of obtaining project funding. 4. Personnel Profile & Experience: In other words, the business person’s ratings are considered at the time of deciding the amount of the project funding that can be provided. If the proposing personnel has considerable experience in the commercial world, the chances of getting the project finance sanctioned are quite high. If there are any issues found with the business person or the business, the project may get rejected. Acquiring professional assistance can help you get through to the funding agencies conveniently & help get your project approved.

3. Location & Market Demand for Product The location & the requirement of the product or the service the project seems to sell must be well enough to give the lenders assurance that the project will be successful & the borrower will be able to repay the loan in time as well. If the product is common and easily available, there are chances that this can get the proposal rejected. Who can provide Project Funding in India?  There are limited sources to acquire ​project funding​, Even though there are multiple agencies operating in the debt market. Mainly, the government and the cooperative banks are the ones that provide such kinds of finances if your project is pleasing enough for them. Else, there are quite limited project funding agencies in India. It is essential to find a trustworthy yet providing funding agency for the project proposal in India as these generated funds are the backbone of your dream project.