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Intimidated by the long-drawn process of getting a loan approved from conventional sources such as banks and traditional NBFCs, schools in India often discard the idea of borrowing funds for improvements on their campus. They try to make the most of their limited available funds, even if it means some degree of compromise on the quality of upgrades they had planned for the school.
Such an approach does not bring any benefits in the long term. In some cases, it may even backfire. For instance, if a school purchases low-quality furniture due to inadequate funds, which causes discomfort to students/staff using it for 6-7 hours every day, it may not only tarnish the school’s reputation but also cause serious health problems for the users.
What comes as a relief is that school loans are available on easy terms from FinTech companies that are essentially NBFCs but have a streamlined digital lending model for quick disbursal of funds. From a loan for buying school furniture to any other loan for school development, they can provide funds within a week of application receipt. The application needs to be substantiated by only the soft copies of a few documents verifying the credibility of the school.
So what are the benefits of leveraging a quick school loan from such a source? Does it lead to more profitability for the educational institution?
Here’s how the benefits of these loans unfold:
Enable improvements in infrastructure and purchase of new teaching equipment
FinTechs can provide a loan for school construction which helps the borrowing institution to divide students of the same class into different sections. With this, teachers can give more attention to each student, and the quality of teaching improves. The building structure can also be expanded when a school decides to admit more students or has to advance its existing classes to higher grades.
Schools can also take a loan for smart class facilities that are sought in every private school today and have become significant for a generation growing in the digital age. Other areas where a school loan can be used include furbishing of labs and computer rooms, purchase of games supplies and investment in vehicles for transportation services.
Invigorate interest in admissions
The most direct impact of bringing improvements in school facilities is a rise in the number of students who want to be a part of the institution. While senior students can understand the benefits of moving to an optimally planned school on their own, the parents of younger children who join an academy from kindergarten will also try to place their children in such a school. Provision of excellent facilities and keeping pace with new techniques that transform the learning environment is a natural incentive for more admissions in a school.
The good repute of a school can instantly attract students who move to the city due to their parents’ job transfers and have to find an educational institution in minimum time to avoid loss of studies in an ongoing academic session.
Collection of more fees
More admissions imply higher fee collection, and constant increase in this amount eventually leads to increased profitability for schools. A school loan taken to add new facilities and create better learning experiences has multiple benefits for schools that aim to be the leaders in delivering quality education services. Evidently, the increase in their earnings also helps them to repay the borrowed fund.
Whether you need a small loan for school furniture or up to Rs. 50 lakh to finance any development process in your school, Capital Float ensures that you get it most conveniently. Visit https://www.capitalfloat.com/school-finance to apply for your fund today.
Oct 24, 2018
The Great Indian Finance Festival or GIFF 2017 is an online initiative by Capital Float to offer working capital loans to MSMEs across different sectors in the country. GIFF aspires to reach out to over 10 million SMEs by offering lucrative offers on working capital finance, in a bid to bridge the credit gap that small businesses continue to be challenged by. Over the next three months, starting July 1, 2017, GIFF kicks off a one-of-its-kind loan festival that will provide Indian SMEs with the working capital support they need to diversify and scale up their businesses.
|Working Capital Loans
|Up to Rs. 10,000 PayTM gold for every loan on offer||Three Long Months
Jul 1 – Sep 30, 2017
|Interest as low as
At GIFF 2017, you can get access to quickly disbursed, flexible, short-term loans that are typically used for the purchase of inventory, servicing new orders or optimising cash cycles. You can apply online in minutes, select desired repayment terms and receive funds in your bank account in as little as 3 days.
Products & Features:
During GIFF 2017, we will be providing three of our loan products at interest rates starting 16%:
|Merchant Cash Advance||Term Loan||Online Seller Finance|
|Loan against card swipes and receivables – ideal for merchants with consistent card settlements||Unsecured business loan – ideal for SMEs with positive monthly cash flow||Online Sellers – ideal for those looking to expand their marketplace presence and sales|
|Credit: Rs 1 lakh – Rs 1 crore||Credit: Rs 1 lakh – Rs 50 lakh||Credit: Rs 1 lakh to Rs 1 crore|
|6 months – 1 year||6 months – 3 years||Flexible payment options|
|Know more||Know more||Know more|
In addition to the three-month long festival, watch out for short ‘Flash Sales’ throughout GIFF 2017. A flash sale lasts for three days, and you can earn up to 10,000 in PayTM gold!. Each product will feature a flash sale of its own, so be sure to visit the GIFF website regularly!
The entire process at GIFF 2017 is online. You need to fill up an online application and submit all the relevant documentation. If you meet the eligibility criteria and your paperwork is correct, your application can be approved within a few hours. The best part is that the loan amount will be credited to the bank account within 72 hours of approval.
GIFF 2017 Application Process
The first step is to fill up basic details about yourself and the company such as the registered name of your enterprise, years of operation, type of company (private limited/partnership/proprietorship/unlisted), company turnover and loan amount required in the online application form. Next, upload relevant documents on the website. These documents or paperwork are necessary to demonstrate your creditworthiness and ability to repay.
Capital Float leverages technology such as big data analytics and proprietary algorithms to make quick lending decisions based on the verifiable data you have provided. Over the years, the technology and intelligence we deployed have ensured better decision-making and quick disbursal of loans.
GIFF 2017 and the festive season
A recent Nielsen’s global consumer confidence index report showed that India’s consumer confidence score rose to the highest it’s ever been in the last 10 years. This swing in consumer sentiment even made Nielsen proclaim India as ‘a nation of determined optimists’. So, as we head into a period of positive consumer sentiment and with many major festivals coming up, the timing seems perfect for SMEs to think big.
Even though we Indians have festivals all round the year, consumer spending spikes from July to December. Traditionally, Ganesh Chaturthi, Onam, Durga Puja, Dussehra, Diwali and Christmas have been occasions for large spending by the Indian consumer. In 2016, Indian consumers spent an estimated amount of Rs 12,000 crore ($1.8 billion) online during Diwali alone. The festive season is also when the marketers spend almost 40% of their annual budget in attracting customers and boosting sales by 20% – 25%.
Timing is everything:
Cashing in on an opportunity at the right time is critical for SMEs to prosper. The upcoming festive season and a high consumer confidence score is a lucrative opportunity that smart SMEs will want to leverage for growth and expansion. Over the next few months, we will be providing our impactful working capital finance products at discounted interest rates with our esteemed promise of 3-day disbursal. Tap into this opportunity and propel your enterprise towards a busy season ahead, equipped with all that you need to succeed and #BreakLimits.
Oct 24, 2018
What makes or breaks a product team?
Strong design principles are one. A clear, effective roadmap is another. But one of the most important, yet overlooked, aspects of all great product teams, are the relationships between the designers and engineers on your team.
“Truly great products are often a combination of two things: a technical breakthrough and a never-before-seen design it enabled.”
Yet many designers compartmentalise building a product into two distinct parts — design and development. This distinction is one of the most dangerous traps a product team can fall into. When the design is seen as a satellite that orbits engineering, it usually comes crashing back to earth.
The problem is we separate design from implementation. In product design, both these things are inextricably linked. A world with terms such as “design freeze” or “handoff” just won’t cut it.
Truly great products are often a combination of two things: a technical breakthrough and a never-before-seen design it enabled. So it’s essential designers understand the possibilities and restraints of the technology they’re working with before they can properly delve into the design.
Here’s an example. Let’s say you’re designing a native mobile app. Here are some technical questions you might receive from an engineer that can heavily influence your design decisions:
- Which framework are we going to use for that home screen chart? If we don’t know the suitable one, we should ask the developer for a suggestion and follow the UI of that framework.
- How long does it take the API to fetch the data for that list-view? If it’s too long, you’re going to need to do more than place a spinner.
- The API takes a little too long to load user’s loans. What do we display in the meantime?
Questions such as the above should be asked and addressed as early as possible by discussing with engineers. Involve them in the design process, at the end of the day, it’s the developer that actually builds the website or app.
Even though you’re the designer, the developer knows best when it comes to certain other aspects of the user experience (perceived performance, page loading times, miscellaneous features that will crash the browser).
Turning design into reality
Being a great designer requires you to be empathetic, not only to users or clients but also to your engineers. Let’s not forget that all of us are working for the same goal of building a kickass product!
So here are key pointers to turn your design into pixel perfect reality:
1. (Atomic) Design System:
Design System is a list of all the elements you are using in a project. It helps you maintain consistency in the design. Want to know how we built our design system? Take look at this article:
We all have been generating & sharing UI mocks comfortably for many years now. But there are few things which will help us avoid confusion.
Nowadays we have a wide range of devices. Not just web but our mobile platforms also has varying screen sizes! It’s important to decide how will our product look on all those screens? Define the breakpoints and keep in mind the media queries that developers are going to use. Talk with your developer if you don’t know what it is.
Breakpoints and responsive layouts:
Upload an artwork to Zeplin or Google Gallery or InVision with the responsive design (according to the breakpoints that you’ve already set), in other words, share how your design looks in different screen resolutions and devices.
You think it‘s clear that the design will be horizontally centred at higher resolutions, such as 1920 x 1080 pixels, but developers are not mind-readers.
Tools for designers:
We have developed a Sketch plugin which allows you to quickly generate guides for a selected element and helps you achieve web development’s famous grid (column) behaviour in Sketch. The plugin was featured on SketchApp website and newsletter.
File names and versioning:
The name of the screen should simply describe its function. If you’re not yet using a version control solution for your designs, you probably should.
Make sure to use consistent casing when naming your screens, whether it’s ‘camelCasing’ or ‘Sentence casing’ or ‘lower casing’ etc.
We also add 3 number to give the sequence to mockups.
Make a flow: Putting the mockups together is only half the work done. You’d need to stitch the screens together based on the flow using Hotspots (or just make an Interactive Prototype). It helps the product manager understand how the user journey is panning out and helps the developer plan her/his approach to code.
Figure out the fidelity: Not every screen has to be fleshed out with high fidelity prototypes. Few screens could simply be static with explanatory comments, few could get away with platform-specific standard interaction patterns and few might require those custom prototypes. There’s no blanket rule for all the screens, so discuss with your developer & plan accordingly.
Suggested Tools: Overflow, Marvel, InVision, Google Gallery, Principle or craft it directly in code!
Assets and resources:
Even better if you use SVG.
When you use SVG for your icons or illustrations, you don’t need to worry about devices with different pixel densities. Another advantage is that SVG graphics use up less space, and can be compressed effectively by gzip on the server side.
Think twice before you send an asset larger than 1MB to a developer! Don’t be lazy and send the job off to a developer; you are responsible for the visual quality of the project. Check out this image optimisation guide by Google.
Assets also include custom fonts and copy for your vernacular Apps.
1. Don’t be too visionary.The ideas must work.
2. Work with real data in mind and think about a “scalable design”. If there is a long text, what happens? how does it work in other languages? and if in the future will be adding more items to the menu, what happens?
3. Empty states: if you don’t know what they are, find out!
4. Explain the reason for your choices about the layout, colors and interactions.
6. Never forget the user.
Although you shouldn’t need another reason to be considerate of your fellow teammates (especially developers, who traditionally, designers find it hard to see eye-to-eye with), using these tips will help you, as a designer, just as much as they help everybody else. Cutting corners to save time only creates speed bumps further down the road, so add a little care and some foresight with your design choices.
Tap the ? button if you care about your developer (and/or you found this article useful).
Have any tips of your own? Let us know ?
Source:- Capital Float’s Medium Blog
Oct 24, 2018