All business owners dream of building an empire. To do this, the business must be turned into a brand, which requires passion, hard work, conviction, and, of course, money. While the entrepreneur will have to cultivate the first three for himself, the funds can be arranged through various sources, such as Lendingkart business loans.
If you think your business has got it all to reach the pinnacle of success, but it is just the capital holding you back, then you need not worry. You can simply apply for a business loan provided from Lendingkart today through Finserv MARKETS. Such an advance should help you in becoming the entrepreneur you have always wanted to become.
Features and Benefits of Lendingkart Business Loan
Some of the features of a Lendingkart business loan are as follows:
High loan value of up to ₹50 Lakhs: You can avail a high-value business loan of up to ₹50 Lakhs to expand your business venture.
Superfast business loan processing: The application process in its entirety is carried out online on Finserv MARKETS. The process for applying for this particular loan does not require you to furnish a lot of documents.
Fast turnaround time and disbursal: You no longer have to wait for long periods to avail the loan. You can get money credited in your account in a matter of just three working days.
No collateral required: Lendingkart business loans are unsecured in nature, which means that you do not need to pledge any collateral as security.
Fair interest rates: You can be assured of the fact that you will get the loan amount at the best possible interest rates. The big data tools which are always at play are used so that you secure a Lendingkart business loan which attracts the lowest possible interest rate.
Flexible loan repayment tenure: The loan repayment tenure tends to stay within the range of 6 to 36 months. Such flexible repayment tenures will make it easier for you to pay off the loan.
No hidden costs: There are no hidden costs and charges when you make a business loan application with Lendingkart. You will be charged a one-time processing fee of anywhere between 1-2%.
Lendingkart Business Loan Interest Rate and Charges
While availing the loan, we will encourage you to consider the interest rates and associated charges. Lendingkart Business Loans come with competitive interest rates and minimum processing charges. The interest rate of such loans are usually between 15-24% per annum or 1.25%-2% per month. These will, however, depend on the loan amount and the type of business that you are in.
In addition to the applicable interest, there are only two other kinds of charges. One of them is a one-time processing fee of anywhere between 1-2% of the loan amount. The second one is the loan foreclosure charge if you wish to repay or foreclose the loan ahead of tenure. Such a facility can be availed only after the first EMI is paid.
You must also keep in mind that the interest rates and associated charges are always subject to change. You would also incur GST along with the processing charges.
Lendingkart Business Loan Eligibility
You must fulfil the following eligibility criteria to secure a Lendingkart business loan:
Your business must be operational for at least 6 months.
A minimum turnover of ₹12 Lakhs p.a. is required from your business while applying for the loan. The documents which will be provided as evidence for the same should reflect that the business has been meeting the turnover criteria successfully since the past three months.
You should be 25 years of age at the least and 60 at most.
Documents Required for Lendingkart Business Loan
While applying for a Lendingkart Business Loan, you must provide a handful of basic documents as well, namely:
Address Proof: Aadhaar Card, Voter ID, Driving Licence, etc.
Identity Proof: PAN Card, Aadhaar Card, Driving Licence, Passport
Proof of the fact that your business exists, such as the GST registration certificate and relevant trade licences, among others
Copy of Income Tax Returns for past 2 financial years
Bank statement going back at least 12 months
How to Apply for Lendingkart Business Loan?
Applying for a Lendingkart Business Loan online on Finserv MARKETS is quite simple. All you must do is:
Filling details online: Enter your personal and professional details.
Select your lending partner: From the list of loan offers, select the one offered by Lendingkart.
Specify loan details: Select the loan amount and repayment tenure as per your choice.
Upload the documents: Upload the scanned copies of your documents.
Approval and disbursal: Get online approval in 2 minutes and money in your bank within 3 working days.
Frequently Asked Questions on Lendingkart Business Loans
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✔️Why choose a business loan from Lendingkart?
Lendingkart offers Business Loans up to Rs. 50 Lakhs with interest rates starting from 15% p.a and going up to 24% p.a. The loan can be used to expand your business operations, buy raw materials and much more.
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✔️What is the minimum and maximum tenure of business loan in Lendingkart?
The repayment tenure for a Lendingkart Business Loan ranges from 6-36 months.
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✔️How much business loan amount I can borrow from Lendingkart?
You can borrow up to Rs. 50 Lakhs as a business loan amount from Lendingkart.
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✔️How much time does Lendingkart takes in sanctioning a business loan?
Lendingkart takes 3 working days to sanction the loan.
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✔️How much time does evaluation takes?
The evaluation typically takes 1-3 days.
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✔️What are the repayment options of the availed business loan?
The loan can be paid in EMIs either monthly or bi-weekly basis.
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✔️What is the interest charged on Lendingkart business loan?
The interest charged on Lendingkart business loan ranges between 1.25% per month to 2% per month.
