Running a small or medium business involves juggling many responsibilities—inventory, staffing, and finances. As an MSME it can be challenging to get credit for your business. However in today’s digital age, digital lending is a quick and convenient option, without the hassle of paperwork. With a simple click of a button on your phone, you can apply for and get an approved loan within a very short time. With this advantage also comes the risk of cybersecurity.
Online loan applications require sharing sensitive personal and business information. That makes digital safety as crucial as selecting the right lending partner.
It is important that as a consumer you are aware of the different ways in which your security could be compromised. Messages that often seem genuine are designed to trick people into clicking links or sharing OTPs. These are phishing scams. One click on a fake link can open the door to sensitive business information being stolen.
Sometimes, hackers find a way to break into digital systems and steal stored data—this is called a data breach. For small businesses, even a small leak can lead to financial losses and loss of customer trust.
Stay safe while borrowing online: Simple cybersecurity tips for MSMEs
As a small business owner, it is vital that while enjoying the benefits of a digital loan, you remain cautious and take measures to avoid compromising your safety. Following are some of the ways you can protect your and your company’s assets:
- Use strong passwords & two-factor authentication
The first line of defense starts with your login. Always create strong, unique passwords using a mix of letters, numbers, and special characters. Avoid using names, birthdays, or anything easy to guess.
To add another layer of security, enable two-factor authentication (2FA) or OTP-based login. This way, even if someone guesses your password, they can’t access your account without the second step.
- Choose trusted, verified lenders and stay alert when installing loan apps.
Always borrow from RBI-registered and recognised platforms. Before sharing any personal information, check for credentials, certifications, and reliable customer support. Be cautious while installing: if an app requests access to your SMS, contacts, or location without a valid reason, it’s a major red flag. Genuine lenders follow transparent processes and will never pressure you into quick decisions.
- Be careful with links, calls, and messages
Phishing scams are common. Always double-check email senders and never click on links from unknown sources. Never share sensitive info like your OTPs, passwords, or bank PINs over calls or messages—even if they appear to be from a “bank” or “official” number.
- Keep devices and apps updated
Updates aren’t just about new features—they also patch up security flaws. Always update your phone, laptop, and financial apps to the latest versions to stay protected from new threats.
- Avoid public Wi-Fi for financial tasks
Free Wi-Fi at cafes, stations, or airports may be convenient, but they aren’t secure. Avoid using them for anything related to banking or borrowing. Always use a trusted internet connection when accessing loan apps or making transactions.
- Back up your data & monitor activity
Keep regular backups of important business data in secure locations—like cloud storage or external drives. Also, make it a habit to check your loan accounts for any unusual activity and report anything suspicious immediately.
Final thought: Borrow with confidence and ease
Trust and security are essential when borrowing online. At MyShubhLife, we combine smart technology and strict safety measures to protect your information and make the loan process straightforward and reliable. Our in-house systems manage everything securely, following all government regulations and ensuring transparent pricing—no hidden fees or surprises.
Whether you need quick funds to expand or manage daily expenses, MyShubhLife offers a fast, simple application process designed with your needs in mind.
Thousands of MSMEs already trust us to support their growth. With MyShubhLife, you get more than a loan—you get a partner who understands your business.
Ready to take the next step? Explore our loan options and see how we can help your business thrive.