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Lendingkart Finance Limited is a non-deposit taking Non Banking Financial Institution. It was established to provide easy access to the SME sector. Lendingkart provides business loans to existing businesses as well as startups of the SME sector with the focus on their current and future projections instead of considering their past records like financial statements and income tax records. Lendingkart is currently based in Mumbai, Ahmedabad and Bangalore but can provide loan options to all the potential borrowers across the country.
The details of the business loans provided by this NBFC are provided hereunder.
The eligibility for the existing businesses as well as for startup businesses is enlisted below.
The list of documents required by Lendingkart for its business loans, commercial loans and startup loans is more or less the same. The details of such documents required are enlisted below.
The various features and benefits associated with the business loans offered by Lendingkart are discussed below.
Amount of loan
Lendingkart provides easy and hassle free business loans to entrepreneurs up to a maximum of Rs. 2,00,00,000. The minimum business loans offered to any entity is Rs. 50,000. This huge range of business loans enables the organizations to satisfy their many business needs like expansion, working capital requirements, etc,
Rate of interest
The rate of interest Lendingkart business loans or other loans are very competitive and thereby do not create a burden or burn the borrower’s pocket with exorbitant interest charges. The approximate rate of interest offered by Lendingkart for each of its loan types is stated below.
Rate of interest
1% to 2% per month
15% to 27% per annum
15% to 27% per annum
Faster loans processing and disbursal
Lendingkart has a very loan processing and disbursal time as compared to many traditional banking institutions and financial institutions. This ensures that the borrowers get timely loans for their business needs and are not left stranded in spite of a loan approval. The loan disbursal time of Lendingkart is only 3 working days.
The tenure of loans various types of loans that are provided by Lendingkart to the business community are considered to be among the most comfortable repayment options that make it a preferred choice over traditional banking institutions. The tenure of Lendingkart loans to the business community are tabled below.
Up to 36 months (3 years)
Up to 24 months (2 years)
Lendingkart offers an easy and flexible repayment schedule where the borrower can repay the loan taken on monthly basis or bi-weekly basis.
Borrowers are not burdened with the usual requirements of collateral while applying for a loan with Lendingkart. They can get easy unsecured loans provided the eligibility criteria are duly met and all the necessary documents have been submitted.
Processing charges and Pre-closure Charges
Lendingkart offers loans to business entities at standard processing fees and no further hidden costs for all types of loans (Business loans, Commercial Loans or Startup Loans). The processing fees of Lendingkart Finance Limited are in the range of 1% to 2% of the loan amount. Also, borrowers do not have to worry about any pre-closure charges levied on the loan at any point of time. Lendingkart allows the borrowers to pre-close the loan taken at zero charges any time during the tenure of the loan.
Extension of loan tenure
Borrowers can also apply for an extension of the loan tenure in the event of difficulty in meeting the loan obligations due to any temporary business problems or crisis that they may be facing. Such extensions can be provided for a period of 6 months or more depending on the guidelines set by Lendingkart in this regard. Tenure extensions for startup loans can also be up to a period of 4 years depending on the credit profile of the applicant and the future projections of the entity.
These unique features ensure the following benefits to the borrowers,
Lendingkart offers many types of loan solutions for the SME sector to ensure business growth and survival as well as diversification. The various types of business loans offered by this NBFC are mentioned below.
The application process of Lendingkart Business loans is very simple. Applicants can check their eligibility by contacting the nearest branch of the NBFC or by reaching them at their customer care service. Upon verifying their eligibility, applicants can apply for the business loans through the following steps.
Customers can contact the organization for any queries or any information that they may require pertaining to the loans by either visiting the nearest branch or by connecting through the customer care service. The means to reach the customer care service of Lendingkart are mentioned below.
Alternatively, customers can also download the android version of the app for Lendingkart from the Google Playstore.
1. What is the maximum amount of business loan that can be received from Lendingkart?
A person can receive a maximum loan of Rs. 2,00,00,000 as business loan from Lendingkart.
2. What is the minimum age limit to apply for the business loan of Lendingkart?
The minimum age to apply for a LendingKart business loan is 21 years.
3. What are the processing charges for business loans?
Lendingkart charges standard processing charges of 1% to 2% of the loan amount and no additional or hidden charges.
4. What are the types of business loans of Lendingkart?
the types of business loans offered by Lendingkart are
5. What is the minimum turnover requirement for business loans of Lendingkart?
Lendingkart requires the applicants to have a minimum turnover of Rs. 90,000 for the preceding 3 months of applying the loan.
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