Everything You Should Know About Obtaining the Lendingkart Business Loan - Digilocker | Digilocker Web

Businesses need capital to expand and meet their other financial needs. This is where securing a business loan in India comes into the picture as it ensures a smooth cash flow while the business owner can focus on strategies to expand and leverage the market demands to their benefit. Lendingkart is focused on the idea of making business loans easy, quick and reliable. The mission to make MSMEs enter the big game has simplified loan approvals. Let’s learn more about a business loan from Lendingkart.

Check Your Eligibility Criteria

Securing a business loan in Delhi is an easy step. However, first, it is important to check whether your business is eligible for a loan from Lendingkart. Take a look at the eligibility criteria for different kinds of loans:

Private limited companies

If you are looking for a loan up to ₹15 lakhs then the Net Annual income must be more than ₹1.5 lakhs and a Net Annual Income of ₹3 lakhs for loans beyond ₹15 lakhs.

For Proprietorship or Limited Liability Partnerships

Statements of profit and loss are required to evaluate the eligibility.

Self-employed professionals

Original certificates to prove their qualifications. For instance- A certificate to prove that you are a Doctor or a Chartered Accountant and so on.

General criteria

Must be between the ages of 21 to 65.
Businesses must show cash profits for the past two years.
An audited balance sheet is done by a registered chartered accountant.

Documents required

Lendingkart believes in keeping the loan process as simple as online shopping and therefore requires minimum documentation. Here’s a list of documents that you need to keep handy-

Identity proof issued by the government of India.
Passport-size photographs.
Bank statements of the last 6 months.
Balance sheet of previous years.
Profit and loss statement of the last 2 years.
Trade license
Sales tax certificate
Business ownership documents.
Income tax returns of the last 2 years.

Apply for a Lendingkart Business Loan

Applying for a business loan in Pune or any other city in India is a quick online process and can be done by:

Filing an online application form available on the Lendingkart homepage
Submit all the documents required.
Lendingkart will evaluate and assess your documents to check your eligibility for the loan amount.
If your loan gets approved, the amount is disbursed within 72 hours.

Factors Influencing the Approval of Your Business Loan

To evaluate the eligibility and approve the business loan, the following factors are taken into consideration:

Credit score
Cash flow
Age and qualification of the borrower
Performance
Documents showing finances and ownership.

Calculate Your EMI at Home Instantly

Now borrowers can easily calculate the EMI using a business loan calculator. An online tool designed to provide quick and accurate results. Feed in your loan amount, interest rate and loan tenure to get instant EMI.

This helps in evaluating finances and making a management plan that is sustainable for the business.

An Easy Repayment of Your Business Loan

Repaying a business loan can be done either through EMIs or bi-monthly payments. Both options are kept open for the borrower’s convenience.

Note: If you opt for EMIs, the repayment can be done automatically through the National Automated Clearing House (NACH) for a smooth process.

Why Should You Opt for a Business Loan from Lendingkart?

A business loan in Bangalore from Lendingkart provides unique features that give it an upper hand over others by offering:

A smooth online application from anywhere in the country.
A quick disbursement of loan i.e. within 72 hours.
Low interest rates offer a loan up to ₹30 lakhs with 1.25%/month interest rates.
Repayment options are flexible for the borrower’s convenience.
Avail an unsecured business loan to ensure a smooth business expansion on your terms.

Final Thoughts

A simple and uncomplicated loan procedure at Lendingkart motivates small-scale businesses and start-ups. The focus on funding unique ideas with potential influences the policies offering borrowers competitive interest rates, easy application and quick disbursements. A business loan that adds value and support as opposed to stress and burden is a dream that has come to life for many.