Lendingkart Working Capital Loan – Every businessman looks for business expansion but the financial problem always stands tall to restrict it. The problem might affect the working capital or acquiring large machinery or assets. Therefore, leverage from any financial institution would be very helpful. Lendingkart is one of the known financial institution that grant various types of loans. In order to manage the working capital, you can take Lendingkart working capital loan at a low rate of interest.
Business Loan
Quotes from 18 banks | Instant Approval | Maximum Loan Eligibility
By accepting our "Terms and Conditions" you authorize WIshfin and its associated Partner Banks to run a CIBIL/Experian check for your profile
To,TransUnion CIBIL Limited[Formerly known as Credit Information Bureau (India) Limited]One Indiabulls building ,Unit No 1901 – 1905,19th Floor, Tower 2A-2B, Jupiter Mill compound,Senapati Bapat Marg, Lower Parel, Mumbai 400 013
Sub: Grant of Consent
Dear Sirs,
In connection with submission of the application for my credit information offered by CIBIL (“Consumer Credit Information”) through Wishfin and delivery of the Consumer Credit Information to the Company, I hereby acknowledge and agree to the following:
- The Company is my lawfully appointed agent and he / it has agreed to be my agent for the purposes, including, without limitation, to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the Agreement entered into between the Company and TUCL, and the Company has granted its consent for being appointed for the aforesaid purpose.
- I grant my unconditional consent to the Company to receive the Consumer Credit Information from TUCL on my behalf and use it in the manner consistent with the consistent with the Agreement entered into between the Company and TUCL, as the case may be, and the Company has granted its consent for being appointed for the aforesaid purpose. I hereby represent and acknowledge that: (a) I have carefully read the terms and conditions of the Agreement entered into between the Company and TUCL understood the same; or (b) the Terms of Understanding in relation to the use of the Consumer Credit Information has been agreed between me and the Company.
- I hereby expressly grant unconditional consent to, and direct, TUCL to deliver and / or transfer my Consumer Credit Information to the Company on my behalf.
- I shall not hold TUCL responsible or liable for any loss, claim, liability, or damage of any kind resulting from, arising out of, or in any way related to: (a) delivery of my Consumer Credit Information to the Company ; (b) any use, modification or disclosure by the Company of the contents, in whole or in part, of my Consumer Credit Information , whether authorized or not; (c) any breach of confidentiality or privacy in relation to delivery of my Consumer Credit Information to the Company ; (d) for any use made by the Company which is contrary to the Agreement entered into between the Company and TUCL.
- I acknowledge and accept that: (a) TUCL has not made any promises or representations to me in order to induce me to provide my Consumer Credit Information or seek any consent or authorization in this regard; and (b) the implementation of the Agreement between TUCL and the Company is solely the responsibility of the Company
- I agree that I may be required to record my consent / provide instructions electronically and in all such cases I understand that by clicking on the "I Accept" button below, I am providing "written instructions" to Wishfin authorizing Wishfin to obtain my Consumer Credit Information from my personal credit profile from TransUnion CIBIL LIMITED, [formerly known as Credit Information Bureau (India) Limited]]. I further authorize Wishfin to obtain such information solely to confirm my identity and display my Consumer Credit Information to me. Further in all such cases “By checking this box and clicking on the ‘Authorize button, I agree to the terms and conditions, acknowledge receipt of TUCL privacy policy and agree to its terms, and confirm my authorization for Wishfin to obtain my Consumer Credit Information .
- I understand that in order to deliver the product to me, I hereby authorize Wishfin, to obtain my Consumer Credit Information from TUCL.
- By submitting this registration form, I understand that I am providing express written instructions for Wishfin to request and receive information about me from third parties, including but not limited to a copy of my consumer credit report and score from consumer reporting agencies, at any time for so long as I have an active Wishfin account. I further authorize Wishfin to retain a copy of my information for use in accordance with [Wishfin’s] Terms of Use and Privacy Policy.
- I UNDERSTAND THAT THE PRODUCT IS PROVIDED ON AN “AS-IS”, “AS AVAILABLE” BASIS AND TUCL EXPRESSLY DISCLAIMS ALL WARRANTIES, INCLUDING THE WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.
- I shall not sue or otherwise make or present any demand or claim, and I irrevocably, unconditionally and entirely release, waive and forever discharge TUCL , its officers, directors, employees, agents, licensees, affiliates, successors and assigns, jointly and individually (hereinafter “Releasee”), from any and all manner of liabilities, claims, demands, losses, claims, suits, costs and expenses (including court costs and reasonable attorney fees) (“Losses”), whatsoever, in law or equity, whether known or unknown, which I ever had, now have, or in the future may have against the Releasee with respect to the submission of my Consumer Credit Information and / or my decision to provide TUCL L with the authority to deliver my Consumer Credit Information to the Wishfin . I agree to defend, indemnify, and hold harmless the Releasee from and against any and all Losses resulting from claims made against TUCL L by third parties arising from and in connection with this letter.
- I agree that the terms of this confirmation letter shall be governed by the laws of India and shall be subject to the exclusive jurisdiction of the courts located in Mumbai in regard to any dispute arising hereof. TUCL is entitled to assign its rights hereunder to any third person without taking my prior written consent.
Yours faithfully,
Name :____________________________Address : ____________________________Date : ____________________________
Details of Working Capital Loan from Lendingkart
Types of Working Capital Loan
Bank OD/Credit Facility
Lendingkart offers you with Bank OD facility. If you are having a current account then you can easily withdraw money exceeding the available amount. Lendingkart will charge interest depending upon the working relationship with the business.
Equity Funding
Investors and some personal resources usually acquire equity funded working capital loans. Those types of loans are taken by startups and businesses having low credit scores less than the ideal one.
Short Term-Loan
Short Term-loan are important financial help for managing working capital. Many business organisations and SMEs take short term loan to payout labour wages, purchasing raw materials and many other petty expenses.
Loans on Receivables
You can also get the working capital loans easily on the basis of account receivables. All you need is to mortgage the receivable for a certain span of time and take the necessary amount from the financial institution.
Trade Creditor
Trade creditor working loans are usually given by current and new suppliers. This loan has strict parameters and the borrower has to pay a huge amount of interest. While taking the Lendingkart working capital loan would be less costly.
Advances by Institutions
This loan is given against future credit card receipts. If you accept payment from a credit card as well then this loan would be suitable for you. It is almost as same as receivable loans but you can get a loan without a confirmed sale.
Features of Lendingkart Working Capital Loan
- Super fast processing of working capital loan in just 75 hours.
- No need for any collateral to be secured.
- All the procedure is online and you don’t have to wait in a loan queue.
- The physical appearance of the applicant is not needed as all the formalities are done online.
- Option for flexible repayment.
- Helps in Improving the credit score.
Eligibility Criteria
- The minimum turnover of the company must be more than ₹90,000 in the last 3 months.
- The business must not be blacklisted under SBA Finance.
- Businesses must be 3 months old.
- The locations of the business must be in an appropriate city.
- The non-eligible parties for working capital loans are trust, NGOs and charitable Institutions.
Documents Required
- Partnership Firm – 12 Months Bank Statement, Registration Proof, Pan Card, Applicant’s Aadhaar Card, Copy of Partnership Deed.
- Proprietorship Business – Bank Statement of 12 Months, Business Registration Proof, Proprietor Pan Card, Proprietor’s Aadhaar card.
- LLP, OPC and Pvt Ltd Company – 12 Months Bank Statement, Certificate of Incorporation, Applicant’s Pan Card and Aadhaar Card, Company’s Pan Card.
How to Apply for Working Capital Loan
Now you know all the features of Lendingkart Working Capital loan. If you are willing to apply for the same then you can log in to the official website of Wishfin. You can use Whatsapp for chatting with our customer representative. Our relationship management team will give you best solutions. If you want to calculate the EMI on the above mentioned rate of interest, then you can use the EMI Calculator Online.
Track Application Status
You can track the status of your working capital loan on the official website of Lendingkart. There you’ll see whether your application is approved or rejected. It can also be in a pending state if all the documents are not submitted to the institution. If you want to increase the loan amount then working capital loan won’t work. You have to apply for Lendingkart Business Loan. This loan will help you in purchasing large machinery, buildings and other assets.
