Lendingkart Finance Business Loan Interest Rate – 2021
|Interest Rate||18% onwards|
|Repayment Tenure||Min. 12 months & Max. up to 36 months|
|Loan Amount||Up to Rs. 1 crore|
|Processing Fee||2.5% of the loan amount (one-time)|
|Business Turnover||Rs. 12 lakh or above|
|Business registration proof||6 months|
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) registered with RBI that offers business loans, MSME loans, working capital loans to individuals, self-employed customers and Small and Medium-Sized Enterprises (SMEs) and MSMEs.
There is no collateral or security required in availing business loans from Lendingkart Finance. Small business loans , MSME loans and business loans for women entrepreneurs can be used for the expansion and investment purposes in operations, inventory, infrastructure, and plant & machinery.
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Eligibility Criteria for Business Loan
- Business should have been in the operations for past 6 months
- Minimum turnover of Rs. 12 lakh or above
- 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
- Applicant should not have 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 Finance Customer Care
Toll Free Number: 1800-572-0202
Email address: email@example.com
Frequently Asked Questions
Ques. How much loan amount I can get as business loan?
Ans. Maximum amount of Rs. 1 crore can be availed as a business loan from Lendingkart Finance.
Ques. What is the interest rate offered for business loan or working capital loan by the NBFC?
Ans. Interest rates offered by Lendingkart Finance starts from 18% per annum and shall vary as per business requirements and applicant’s profile.
Ques. Is there any collateral required to avail the business loan from Lendingkart Finance?
Ans. No, collateral or security is not required by the company as they offer unsecured business loans.
Ques. What are the pre-closure charges of the business loan?
Ans. No pre-closure charges or hidden fees are charged by Lendingkart Finance.
Ques. What is the minimum turnover required for business loan from Lendingkart Finance?
Ans. Minimum turnover of Rs. 12 lakh makes you eligible to avail business loan.
Ques. Do Lendingkart Finance offers business loan to vendors with low credit score?
Ans. Not always but still there are chances of getting business loans with higher interest rates.
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.