Lendingkart Finance Business Loan Interest Rate – 2021
|Interest Rate||17% onwards|
|Repayment Tenure||Min. 3 months & Max. up to 36 months|
|Loan Amount||From 50,000 to Rs. 2 crore|
|Processing Fee||2-3% of the loan amount (one-time)|
|Eligibility Criteria||More than Rs. 90,000 turnover for 3 months|
|Loan Sanctioning Time||Within 3 working days|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges
Lendingkart Finance is a non-deposit taking Non-banking Financial Company (NBFC) that offers business and working capital loans to Small and Medium-Sized Enterprises (SMEs) throughout the nation. Online access is provided to the applicants with a hassle-free documentation process.
There is no collateral required in taking business loan from Lendingkart Finance. The company does not consider customers’ past financial statements & ITRs in order to evaluate the credit risk profile of its customers. Small business loans can be used for the investment purposes in operations, infrastructure, and plant and machinery.
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Eligibility Criteria for Business Loan
- Business should have been in the operations for past 6 months
- Minimum turnover of ₹ 90,000 or more in the 3 months preceding your loan application
- Business should not fall under blacklisted / excluded list
- Physical location of business should not be in the list of negative area
- Charitable institutions, NGOs and trusts are not eligible for small business loans
- Indian citizen with no criminal background and should not defaulted with any bank or NBFC in past
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Documents Required for Loan Application
|Category||Proprietorship||Partnership||Pvt. Ltd. / LLC / One Person Company|
|Bank statement (12 months)||Required||Required||Required|
|Business registration proof||Required||Required||Required|
|Proprietor(s) PAN Card Copy||Required||Required||Required|
|Pre-close Proprietor(s) Aadhar Card Copy||Required||Required||Required|
|Partnership Deed Copy||Not required||Required||Not required|
|Company PAN Card Copy||Not required||Not required||Required|
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Benefits of Lendingkart Finance Business Loan
Ownership is preserved
Business loan offered is an unsecured loan and there is no risk of losing assets or giving away any stock as an investment. Hence, the business ownership is preserved and business loan offers with amount to expand your company ever further.
Quick loan processing
Quick processing means faster credit for your business at lesser time as compared to other market leaders. It becomes a possibility that profit margin of your business may increase with instant cash at disposal. It saves time and provides an option to improve the business operations.
Cash flow gets streamlined
Loan amount is to be repaid in EMIs, so it becomes easy for the entrepreneur to capitalize on the situation wherein the cash flow is not a problem. Post loan sanctioning, the business is given ample cash and time to make it profitable.
Credit Score gets improved
Business loan offered by NBFCs tend to report it to all credit bureaus which further results in gradual increase in the credit score. Lendingkart Finance makes sure that the credit score gets improved, if it is bit low due to several market scenarios.
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Lendingkart Customer Care Number
Toll Free Number: 1800-572-0202
Email address: firstname.lastname@example.org
Frequently Asked Questions
Ques. How much loan amount I can get as business loan?
Ans. Maximum of Rs. 2 crore can be availed as a business loan from Lendingkart Finance
Ques. What is the interest rate offered?
Ans. Interest rates offered by Lendingkart Finance starts from 17% onwards.
Ques. What is the possibility of getting a loan sanctioned?
Ans. As the company offers a range of ticket-sizes, it increases the chances of loan approval.
Ques. Is there any collateral required to avail the business loan from Lendingkart Finance?
Ans. No, collateral is not required, as it is an unsecured loan.
Ques. What are the pre-closure charges of the business loan?
Ans. No pre-closure charges or hidden fees.
Ques. What is the minimum turnover required for business loan from Lendingkart Finance?
Ans. Minimum turnover of Rs. 90000 or more in last 3 months makes you eligible to avail business loan.
Ques. Do Lendingkart Finance offers business loan to vendors with low credit/CIBIL score?
Ans. Not always but still there are chances of getting business loans with higher interest rates.
Ques. How much time does Lendingkart takes in sanctioning a business loan?
Ans. Loan sanctioning by Lendingkart is comparatively faster as compared to other lenders and it sanctioned within 3 working days.
Ques. If I do not get funds then what should I do?
Ans. Best thing to do is getting the evaluation done and again approach the group NBFC for the same.
Ques. How much time does evaluation takes?
Ans. The loan processing is done within 3 working days and loan approval is provided less than 59 minutes.
Ques. What are the repayment options of the availed business loan?
Ans. You can repay the loan amount by biweekly and monthly payments.