Lord Finacap is a Non- Banking Financial Company that extends the service of business loans. The company offers both secured and unsecured loans at an attractive interest rate to help the traders and small entrepreneurs. The loan is offered for the maximum tenure of 5 years at fixed rate of interest. At Lord Fincap the loan is issued for the amount ranging between Rs.10,000 – 10,00,000. The other important facts linked to the loan are mentioned below :
Table of Contents
Lord Fincap Business Loan Details – Your personal knowledge pal
|Loan Amount||Rs. 10,000 – 10,00,000|
|Tenure||12 months – 5 years|
|Processing Fee||Based on company's policy|
How To Apply
To apply for a personal loan call on the customer care number or send an e-mail. You can even avail the loan by visiting the branch office located in Delhi and Jaipur.
Lord Fincap Business Loan EMI Calculator – How much EMI you will have to pay ?
The best way to calculate the EMI is using the EMI calculator. It is a useful device designed to make the calculation of EMI easy and less time consuming. It aids in computing the amount of interest payable on the business loan obtained. To know the value of interest and EMI the user must put in the loan amount, tenure and the interest rate in the calculator. The EMI is computed using the formula given below:
E = P.r. (1 + r)n / (1 + r)n -1
E = EMI
P = the Principal Loan Amount
r = the rate of interest calculated on a monthly basis
n = the tenor/duration of the loan
For Instance, A candidate avails the loan amount of Rs. 10,00,000 for the period of 5 years at an interest rate of 18% per annum. To know the EMI he uses the calculator. His computed EMI is Rs. 25,393.
Table Showing EMI, Total Interest Amount, Total Repayment Amount
|Total Interest Amount|
|Total Repayment Amount (Principal + Interest)
Eligibility Criteria – Who can avail the Lord Fincap business loan ?
Eligible segments :
- Small Entrepreneurs
Documents Required :
- PAN Card
- Identity Proof – Any one (e.g. Voter ID / Driving License / Passport / Aadhar Card)
- Address Proof – Any one (e.g. Voter ID / Driving License / Passport / Telephone Bill / Electricity Bill / Registered Lease Deed or Sale Agreement / Bank Statement)
- Ownership proof of either residence or office either in the name of applicant or jointly with family members
- Business Continuity Proof – Any one document (Bank Statement / Sales Tax Challans / IT Returns / Shops & Est. Certificate / Certificate of Incorporation / Partnership Deed)
- Letter certifying end use of the business loan funds on Business Letterhead
- Passport Size Photographs of all applicants and co-applicants
Factors Affecting Business Loan Eligibility – The parameters for loan approval !
- Loan Repayment track
- Credit Performance / Credit Bureau Update
- Debt servicing capacity of the customer
- Business Vintage which determines the year in which the firm has started making investments.
- Financial Ratios determining the health of the business
- Existing relationship
Features & Benefits
- Avail loans from Rs.10,000 – 10,00,000
- Flexible repayment tenure ranging from 12 – 60 months
- Availability of both secured and unsecured loan
- Competitive interest rate
- No collateral or security required
- Minimal paperwork and hassle free processing
- Fast loan approval
Lord Fincap Contact Details
You can call on the customer care number to pose your query and gain further details of the product. The expertise service is available on the telephone and email. Call on 011-41632058/59 or send an e-mail on the mail id provided on the company's official website.