Business Loan Rates 201979 views
Lendingkart Business Loan – You started your new business 6 month ago and you need funds to expand the business so here is the best option to take fund from lendingkart. It provide unsecured with collateral free loan. It has created a fast and efficient digital interface. You can apply this loan with minimum documents and hassle free process. They provide funds to annual turnover of Rs. 3 Lacs and more.
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
Table of Contents
Lendingkart Business Loan Interest Rates
|Rate of Interest||1-2% per Month|
|Loan Amount||Rs. 50,000 - Rs. 2 Crore|
|Processing Fee||1-2% (One Time)|
|Tenure||6 Month - 36 Months|
Types of Business Loan
Bank Overdraft / Credit Line – In Bank overdraft a person can withdraw money from its account which is approved limit, even if the actual account balance is zero.
Equity Funding – Equity financing is the process of raising capital through the sale of shares.
Short Term Loans – A short-term loan is a type of loan obtained is support of a need for temporary personal or business capital. This loan is meant for the small business holders to set up the business.
Equipment Finance – Equipment financing loans can easily help you buy or upgrade equipment for your business to get more and more output.
Trade Creditor – A trade creditor is a supplier who has shipped your business good, or supplied you with services that you have not yet paid.
Lendingkart Business Loan Eligibility
- The borrower minimum age is 21 years and maximum age is 65 years at the time of loan maturity.
- An established business that has been in operation for over 6 month.
- Business minimum turnover of Rs.90000/- or more in the first 3 month before your loan application.
- Business should not fall under the blacklist or excluded list for SBA finance.
- Trusts, NGOs and charitable institutions are not eligible for small business loan.
- Business Vintage should be 6 months and more, it should be registered.
- Only Proprietorship, Partnership Pvt Ltd, LLC, One person company can apply.
Business Loan EMI Calculator
|Loan Amount||Interest Rate||Loan Tenure||Monthly EMI||Total Amount with Interest||Total Interest Amount|
Lendingkart Business Loan Documents Required
- Pan Card.
- Passport Size Photograph.
- Identity Proof.
- Address Proof.
- Company Pan Card
- Last 12 month statement till latest date for all accounts / OD accounts.
- Business Continuity Proof – Business Certificate, GST Filling, Gumastadhara, Trade License. TIN, VAT Registration, Sale Tax Challans.
- Mandatory documents for sole prop declaration or certified copy of partnership deed. Certified true copy of Memorandum & Article of Association.
How to Apply Business Loan
Application Form – The application form required your personal details, business details.
Upload Documents – You have to upload your digital copies of all the documents which they required.
Approval – Get instant soft business loan approval and get disburse in 3 working days.
Business Loan Features
- To get a loan, your Cibil Score must be 600 or more than 600+.
- Lendingkart duly gives you a loan of at least Rs. 50,000/- to Rs.2 Crore.
- It offers faster loan plan in just 59 minutes.
- It offers unsecured business loan which don’t not require any kind of asset or security.
- A minimum of 6 month and maximum of 36 months of loan tenure.
- Only charge one time processing fee of 1-2% based on the loan amount.
- If you get higher approval loan amount there is higher possibility of lesser interest.
- The business loans can be repaid in monthly or weekly EMIs.