Lendingkart Business Loan
Last Updated : Sept. 3, 2019, 1:36 p.m.
Lendingkart Business Loan – Business Loans usually boost up the normal working of a business organization. The scarcity of funds is covered by business loan only. But choosing the best financial institution with the optimum facilities is a difficult task for the borrower. Therefore, no need to wander around here and there because Lendingkart is one of the famous financial institutions that grant business loans even without collateral securities.
Lendingkart Business Loan Interest Rates
| Particulars | Details |
|---|---|
| Rate of Interest | 1% to 2% per Month |
| Loan Amount | ₹50,000 - ₹2 Crore |
| Processing Fee | 1% to 2% (Only Once) |
| Tenure | 1 Month to 36 Months |
| Collateral Security | Optional (if the bank statement is strong) |
| ITR | Optional (if the bank statement is strong) |
| Processing Time | 3 Days (if all the documents are submitted on time) |
| Nature of Payment | Flexible (Depends on User's Efficiency) |
Types of Business Loan
Bank Overdraft / Credit Line – In Bank overdraft a person can withdraw money from his account which is an 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 in the 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 |
|---|---|---|---|---|---|
| ₹50,000 | 24% p.a | 6 Month | ₹8926.29 | ₹53557.74 | ₹3557.74 |
| ₹50,000 | 24% p.a | 12 Months | ₹4727.98 | ₹56735.76 | ₹6735.76 |
| ₹50,000 | 24% p.a | 36 Months | ₹1961.64 | ₹70619.04 | ₹20619.04 |
| ₹5,00,000 | 24% p.a | 24 Months | ₹26435.55 | ₹634453.2 | ₹134453.2 |
| ₹5,00,000 | 24% p.a | 36 Months | ₹19616.43 | ₹706191.48 | ₹206191.48 |
| ₹10,00,000 | 24% p.a | 24 Months | ₹52871.1 | ₹1268906.4 | ₹268906.4 |
| ₹10,00,000 | 24% p.a | 36 Months | ₹39232.85 | ₹1412382.6 | ₹412382.6 |
Lendingkart Business Loan Documents Required
- Pan Card of the individual, Company or Partnership Firm.
- Identity Proof- Voter I.D Card, Aadhaar Card, Passport, Driving License. (Only one identity)
- Passport Size Photographs
- Address Proof- Aadhaar Card, Passport, Voter I.D Card, Telephone Bill, Electricity Bill, Driving License. (Only One Proof)
- Last 12 Months Bank Statement.
- 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 Online?
You can easily apply for the business loan on the official website of Wishfin. You can either use the whats app chat in order to get in touch with the company’s representative. The company will suggest you the best offers of business loans provided by Lendingkart. One can also avail collateral-free business loan from Lendingkart.
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 ₹50,000/- to ₹2 Crore.
- It offers a faster loan plan in just 59 minutes.
- It offers an unsecured business loan that doesn’t 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.
To Know More Details:- https://www.lendingkart.com/