Please be informed that no Bank will lend money unless they have a clear picture of your assets and liabilities. Balance Sheet is the only medium which gives complete details of these. In fact Income Tax Department normally insists on full statement of affairs including Balance Sheet for Professionals. If not now, they will certainly seek the same once you start your business. A well structured Balance sheet makes it easier for you to obtain loan subject to fulfillment of norms. more  

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Harvinder singhji loan is not a Dana that is not to be repaid. It is not a charity to be given to a needy. It is such attitude and misconception imbibed in public mentality by politicians and bankers succumbing to such temptations and vested interests is the reason for today's financial sector crisis. Loan is a temporary gap filling finance to an entreprenuer between the period he puts his money and period he will be able to realise back the money. An over financing as well as under financing will land his business in difficulty. Because his profit margin should be more than the interest he pays for the loan. more  
Hi all, I am struggling with a bank loan from a nationalized bank of Rs 95 crores which I am struggling for the past three years. A small part of it is released (8%) but the rest is still pending and there is no green signal for the rest till now. So, I am basically stuck as I can neither move forward in the absence of rest amount nor retract back. We are a group of 4 partners and mortgaged our properties for that. Any genuine suggestions are welcome on how to get it cleared from the back. more  
Exactly sir....They never lend loan to the needy. Per banks, only a financially healthy individual is eligible for loan meaning they should not need it at all. more  
Stop taking loan from banks. Use your own money prudently not to feel proud in front of neighbor or others. Live as you have,.no pretentious. I for one todate did not take loan. Living peacefully. more  
I think Sri Subramanian is talking mainly about taking loans for business more than for personal reasons. Guess, for business development, taking loan is a universally acceptable practice. more  
I fully agree that a well structured Balance sheet is a must but in my four decades experience in banks I have found more than financial statements political influence works Thatis the reason for high NPA in banks as promoters do not know Management and bankers rely on financial statements and Collateral security alone more  
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