An Examination of the Awareness Level of Entrepreneurs Towards Terms and Conditions for Borrowing Loan

Abstract

The primary goal of this research is to assess entrepreneurs' understanding of the terms and conditions of loans. In this study, factor analysis was utilized to detect and categorize entrepreneurs' understanding of the terms and conditions for borrowing loans from an NBFC. This statistical strategy condenses the information contained in numerous original variables into fewer dimensions (factors) while minimizing data loss. Before doing the factor analysis, the data adequacy test was performed using KMO and Bartlett's Test. And to determine the level of awareness among entrepreneurs, a sample t test was used. It may be argued that the outcome is minor, and that entrepreneurs are unaware of the aforementioned requirements and conditions for obtaining a loan.