lendingkart – The Real Experience of LendingKart Loan – Online Loan NBFC – LendingKart Business Loan
Lendingkart Technologies is a leading Fintech company in India. Lendingkart Finance Limited is a non-deposit-taking NBFC arm of Lendingkart Group, providing working capital loans and business loans to MSMEs across India. The Company is pioneering financial services for helping MSMEs grow their business through digital lending and bringing them and their family into the financial mainstream. Thus, contributing towards building entrepreneurship and a strong Indian economy.
Since its inception, Lendingkart Finance has evaluated nearly half a million applications, disbursing 1,00,000+ loans to more than 89,000 MSMEs in 1300+ cities across 29 states and union territories of the nation, making it the NBFC with the largest geographical footprint in the country.
Aligned with the Government of India’s agenda of building financial inclusion and supporting MSMEs, Lendingkart Finance works towards ensuring the availability of credit for small and micro enterprises across the country that either do not have access to credit or are capital deficient currently. Lendingkart leverages robust in-house technology tools based on big data analytics and machine learning algorithms to evaluate creditworthiness. By analyzing thousands of data points to assess factors like financial health, comparative market performance, social reliability & compliance, and a distinctive evaluation process, Lendingkart aims to disburse loans with minimal paperwork within 72 hours.
Lendingkart Technologies has been identified as a “Soonicorn” by Inc42 in the digital lending space for possessing the potential to become a Unicorn company by 2020 and has also won the title of “Best Fintech Company” in the Lending category organized by KPMG in India along with Business Today.
Lendingkart Group has the backing of strong strategic and financial investors such as Fullerton Financial Holding Private Limited, Mayfield India II Ltd., Bertelsmann Nederland B.V., Saama Capital III Ltd., India Quotient, Sistema Asia Fund.
Lendingkart has been recognized as an industry leader and has won many accolades.
Lendingkart Finance Business Loan Interest Rate – 2021 |
|
| Interest Rate | 18% onwards |
| Repayment Tenure | Min. 3 months & Max. up to 36 months |
| Loan Amount | From 50,000 to Rs. 2 crore |
| Collateral | Not required |
| Processing Fee | 2-3% of the loan amount (one-time) |
| Pre-closure Charges | Nil |
| Eligibility Criteria | More than Rs. 90,000 turnover for 3 months |
| Loan Sanctioning Time | Within 3 working days |
Note: The mentioned interest rates, fees, and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
Lendingkart Finance is a non-deposit-taking Non-banking Financial Company (NBFC) registered with RBI that offers business loans, MSME loans, working capital loans to individuals, self-employed customers, and Small and Medium-Sized Enterprises (SMEs) and MSMEs.
There is no collateral or security required in availing business loans from Lendingkart Finance. Small business loans, MSME loans, and business loans for women entrepreneurs can be used for expansion and investment purposes in operations, inventory, infrastructure, and plant & machinery.
Eligibility Criteria for Business Loan
- The minimum age of the applicant should be 18 years and maximum 65 years
- Business should have been in the operations for past 6 months
- Minimum turnover of ₹ 90,000 or more in the 3 months preceding your loan application
- Business should not fall under the blacklisted/excluded list
- The physical location of the business should not be in the list of negative area
- Charitable institutions, NGOs, and trusts are not eligible for small business loans
- Applicant should not have defaulted with any bank or NBFC in past
Documents Required for Loan Application
| Category | Proprietorship | Partnership | Pvt. Ltd. / LLC / One Person Company |
| Bank statement (12 months) | Required | Required | Required |
| Business registration proof | Required | Required | Required |
| Proprietor(s) PAN Card Copy | Required | Required | Required |
| Pre-close Proprietor(s) Aadhar Card Copy | Required | Required | Required |
| Partnership Deed Copy | Not required | Required | Not required |
| Company PAN Card Copy | Not required | Not required | Required |
Benefits of Lendingkart Finance Business Loan
Ownership is preserved
A business loan offered is an unsecured loan and there is no risk of losing assets or giving away any stock as an investment. Hence, the business owner is preserved and business loan offers with the amount to expand your company even further.
Quick loan processing
Quick processing means faster credit for your business at a lesser time as compared to other market leaders. It becomes a possibility that the profit margin of your business may increase with instant cash at disposal. It saves time and provides an option to improve business operations.
Cash flow gets streamlined
The loan amount is to be repaid in EMIs, so it becomes easy for the entrepreneur to capitalize on the situation wherein the cash flow is not a problem. Post loan sanctioning, the business is given ample cash and time to make it profitable.
Credit Score gets improved
Business loans offered by NBFCs tend to report it to all credit bureaus which further results in a gradual increase in the credit score. Lendingkart Finance makes sure that the credit score gets improved if it is a bit low due to several market scenarios.
Lendingkart Finance Customer Care
Toll-Free Number: 1800-572-0202
Email address: info@lendingkart.com
Frequently Asked Questions
Ques. How much loan amount I can get I as a business loan?
Ans. A maximum amount of Rs. 2 crores can be availed as a business loan from Lendingkart Finance.
Ques. What is the interest rate offered for business loans or working capital loans by the NBFC?
Ans. Interest rates offered by Lendingkart Finance start from 18% per annum and shall vary as per business requirements and the applicant’s profile.
Ques. Is there any collateral required to avail of the business loan from Lendingkart Finance?
Ans. No, collateral or security is not required by the company as they offer unsecured business loans.
Ques. What are the pre-closure charges of the business loan?
Ans. No pre-closure charges or hidden fees are charged by Lendingkart Finance.
Ques. What is the minimum turnover required for a business loan from Lendingkart Finance?
Ans. Minimum turnover of Rs. 90,000 or more in the last 3 months makes you eligible to avail business loan.
Ques. Does Lendingkart Finance offer business loans to vendors with low credit scores?
Ans. Not always but still there are chances of getting business loans with higher interest rates.
Ques. If I do not get funds then what should I do?
Ans. The best thing to do is to get the evaluation done and again approach the group NBFC for the same.
Ques. What are the repayment options of the availed business loan?
Ans. You can repay the loan amount by biweekly or monthly payments.
