Unique Business variants | Up to ₹ 50 lakhs | Tenure up to 36 months

Discover how you can secure a collateral-free business financing in just 5 minutes with Lendingkart, tailored to help your SME thrive in today’s competitive market.

Know 6 Reasons Why To Apply For Business financing With Lendingkart 

  • Flexible Financing: Offers loans from ₹50,000 to ₹50 Lakhs to increase SME approval rates. Irrespective of your capital requirement being big or small, lendingKart offers a lending solution geared towards your business finance needs!
  • Quick Approvals: Same-day financing approvals with an online application process. We at LendingKart are a highly efficient team, our team’s talent coupled with leveraging big data for data collection and assessment, we are able to make lightning quick approvals and disbursals!
  • Rapid Funding: Business financing disbursed within 3 days, faster than traditional bank timelines. Once your loan is approved, all it takes is a mere 3 days for the financing to reach your bank account by an online transfer. Gone are the days with wait times of several days and weeks just to get a disbursal! Getting a new business loan has never been quicker!
  • No Collateral: Access unsecured loans without asset risks.We understand that it can be difficult to arrange a collateral for securing a financing, hence LendingKart offers collateral-free financing, so you don’t have to worry about arranging for a security before opting for a loan!
  • Adaptable Repayment: Repayment terms from 1 to 36 months for operational flexibility.
  • Flexible repayment allows our borrowers to repay loans easily and it also helps bring down the default rate on loans. It’s a win-win situation for both the borrower and the lender!
  • Competitive Rates: Attractive interest rates based on thorough financial analysis.
  • LendingKart offers one of the best interest rates available in the market, our unparalleled rates coupled with flexible repayment plan and no collateral requirement makes borrowing from LendingKart a no-brainer!

Apply for Business Loan Online

Eligibility Criteria for Business financing

  • Minimal Requirements: Streamlined to speed up loan processing, avoiding extensive documents and paperwork.
  • Business Operation: Must have been operational for over 6 months.
  • Revenue Criteria: Minimum turnover of ₹90,000 in the last 3 months.
  • Exclusion Criteria: Cannot be on the blacklisted/excluded list for SBA finance or located in a negatively listed location.
  • Entity Restrictions: Trusts, NGOs, and charitable institutions are ineligible.
  • Verification: Contact for eligibility confirmation if unsure about restricted categories or locations.

For more detailed information check online business loan eligibility criteria

Application Process for Quick Business Loans

Simplified Application: Easy and quick business financing process to apply for any type of small entrepreneurial financing.

Required Documents

  • For All Business Types: Bank statement (last 12 months), business registration proof, company PAN card copy.
  • Specific to Business Type:
    • Proprietorship: Proprietor’s PAN and Aadhar card copies.
    • Partnership: Partnership deed copy.
    • Pvt. Ltd./LLP/One Person Company: Specific documentation as required.
    • Registration Proof Options: Business registration certificate, GST filing, Gumastadhara, trade licence, drug licence, TIN, VAT registration.

Try Lendingkart Business Loan EMI Calculator

  • Easy-to-Use Interface: The Lendingkart business loan EMI calculator offers a user-friendly platform for quick calculations.
  • The interface is easy to use and understand, the users are provided with an option to adjust 3 variables – Loan Amount, tenure, and Interest rate. The user can adjust these variables by punching in the value manually or by simply sliding the toggle. Upon pressing calculate, final calculation is done on a real time basis, and results are shown on the screen!
  • Accurate EMI Estimations: Provides precise monthly payment estimates for any business loan amount.Just key in the relevant numbers like loan amount, duration etc. for the tool to make the calculations for your reference.
  • Customisation: Users can adjust loan amount, tenure, and interest rate for tailored results. This comes in handy when you don’t have a fixed requirement of a startup loan, but would still like to know of the possibilities in case of different loan amounts, tenures, interest rates, etc. and how much your repayment will vary with these variables.
  • Instant Results: Delivers immediate calculations to aid in financial planning.The calculations are done on a real-time basis and the results are shown instantaneously, you can slide the toggle to check different results in different scenarios with varying loan, interest rates and tenures to understand your repayment better in different scenarios.
  • Financial Planning Tool: Helps businesses assess affordability and plan repayments efficiently. The tool helps you check various circumstances and accordingly decide on the loan amount and the repayment tenure which best suits your needs. This financial planning tool helps understand the affordability with different loan sums and nudges the borrowers to check what plan would suit their repayment plan the best.
  • Free Access: Available online for free, facilitating easy budgeting for entrepreneurs.
  • The tool is totally free to use, you can key in or adjust the variables of loan amounts, interest rates and the repayment tenure for real-time calculations. It shows the total principal taken, and the interest payable on the principal based on the interest rate and the repayment tenure for your ease of reference.
  • Supports Decision Making: Aids in comparing different small business financing options and deciding on the best financial strategy.Making informed decisions can help in responsible borrowing and subsequently helps with easy repayment by the borrowers. Having numbers relating to different repayment options and tenures available will help in choosing the best option that suits borrowers repayment capacity while not disturbing the business operations.

Loan Amount

1 lac

50 Lakhs

INR

Tenure

6 Months

36 Months

Months

Interest Rate

1%

21%

%

Principal Amount

Rs.1,00,000


Interest Amount

Rs.291


Monthly EMI

Rs.16,715

Total Amount Payable:

Rs.1,00,291

Business financing Interest Rate and Charges

Customized Interest Rates Fair, Transparent – starting from 1.25% per month
Processing Fees 2-5%
Loan Tenure up to 36 months
Pre-closure Charges Pre-closure charges are applicable as per the lender’s policy
Eligibility Criteria > ₹ 90,000 turn over for 3 Months
Loan Amount ₹ 50,000 – ₹ 50 Lakhs
Installments Flexible Monthly / Bi-weekly
Penal Charges INR 300/- for each overdue installment of Loan; and 0.1% per day on the overdue installment of Loan.

*Based on the health of your business, revenues and annual turnover

**Pre-closures are only allowed after the first EMI is paid in full

Explore Lendingkart’s business loan interest rates as low as 1.25% per month.

Apply For Online Business debt funding in Simple Steps:

Submit application, upload documents, receive approval & funds within 72 hours.*

  • Verify business loan eligibility in 2 minutes with basic details.
  • Complete application by uploading documents within 24 hours.
  • Receive a tailored loan offer after evaluation within 24 hours.
  • Send signed loan agreement and KYC documents within 24 hours.
  • Funds disbursed to your account post-verification.
  • Documents required: PAN Card, Aadhaar Card, Bank Statement, Registration Proof.
  • Additional for specific entities: Partnership Deed, Company PAN (for Partnership firms, Pvt. Ltd, or LLC companies).

Do’s of Business financing

  • Explore All Options: Before applying, consider alternatives like cost reduction, increasing sales, or using contingency funds to meet capital needs.  It’s always crucial to explore all the options before opting for debt funding. Furthermore, comparing options to find out the cheapest funding source just makes sense.
  • Plan Loan Usage: Clearly define how you intend to use the loan for critical business tasks, ensuring immediate and effective deployment of funds. Debt funds sitting idle in the account and not being used efficiently is a form of loss for the business, because you’d be ultimately paying interest on those funds, hence it is imperative to have a plan in place on how you’re going to utilize the funds effectively once the loan is secured.
  • Renewal Opportunities: If possible, opt for lenders like Lendingkart that offer loan renewals upon repayment for continuous project funding. Loan renewals put the borrower at ease, you can carry forward the remaining amount by renewing the debt term to ensure that you do not have a big obligation in the near future and are able to repay off the financing as per your convenience.
  • Consult with Experts: Discuss with financial planners and operational heads to strategize growth and ensure the loan benefits your business. These subject matter experts have unparalleled experience in efficiently managing finances. Getting an opinion would be a smart move as they might have a better understanding and idea on how to efficiently utilize the money while effectively minimizing the cost implication on the business.

Don’ts of Business financing

  • Avoid Excessive Borrowing: Applying for a high loan amount increases EMI, potentially straining finances during low sales or delayed invoices.
  • Refrain from Impulse Spending: Avoid using loan funds for non-essential tasks like paying off existing debts or unplanned purchases that can deplete working capital.
  • Reconsider Non-Beneficial Loans: If the loan does not contribute to meaningful business growth, reconsider the necessity of borrowing.

General Advice for Business financing

  • Careful Planning: Assess the potential financial impact and repayment capability before seeking financing to avoid future financial distress.
  • Purposeful Investment: Ensure every capital investment, including loans, aligns with business growth and operational efficiency strategies.

Business Loan FAQs:

Cities We Serve

Delhi NCR

Delhi, East Delhi, Gurugram, Faridabad, Ghaziabad, New Delhi, South Delhi, Noida, Rithala

Haryana

Chandigarh, Rohtak, Palwal, Gurgaon, Rewari, Panipat, Kaithal, Karnal

Himachal Pradesh

Shimla, Mandi, Manali, Chamba, Kullu, Rampur

Uttar Pradesh

Lucknow, Agra, Kanpur, Allahabad, Varanasi, Meerut, Jhansi

Punjab

Amritsar, Ludhiana, Jalandhar, Patiala, Firozpur

Uttarakhand

Dehradun, Haridwar, Mussoorie, Roorkee, Kichha

Odisha

Bhubaneswar, Cuttack, Sambalpur, Berhampur

West Bengal

Kolkata, Hooghly, Howrah, Kalyani

Bihar

Patna, Sasaram, Nalanda, Aurangabad, Jahanabad, Siwan, Darbhanga, Buxar

Jharkhand

Ranchi, Jamshedpur, Dhanbad, Deoghar

Gujarat

Ahmedabad, Vadodara, Surat, Jamnagar

Goa

Panaji, Madgaon, Mapuca, Ponda

Rajasthan

Alwar, Jaipur, Ajmer, Behror, Dholpur

Maharashtra

Mumbai, Palghar, Pimpri, Ulhasnagar, Thane, Ahmednagar, Aurangabad, Nashik, Nanded

Telangana

Hyderabad, Ranga Reddy, Khammam

Karnataka

Bangalore, Mangalore, Hubli, Mysore, Shimoga, Davanagere, Gulbarga, Bellary, Belgaum

Andhra Pradesh

Vijayawada, Visakhapatnam, Guntur, Tirupati, Rajahmundry, Kakinada, Amaravati, Kadapa, Nellore, Kurnool, Anantapur

Tamil Nadu

Chennai, Coimbatore, Madurai, Trichy, Salem, Vellore, Erode

Kerala

Ernakulam, Kochi, Thiruvananthapuram, Kollam, Thrissur, Malappuram

Business Loan Latest News:

Bank Advances Reach Record High Due to MSME Credit

The necessity to satisfy working capital demands and ambitious development plans propelled Micro, Small, and Medium-Sized Enterprises (MSMEs) to a sharp increase in credit offtake in the 2023–24 fiscal year. Bank advances reached a decadal high of Rs 10.16 lakh crore, up 19.98% from Rs 8.46 lakh crore in FY2022-23, according to the State Level Bankers’ Committee (SLBC) of Gujarat.

The amount of credit made to MSME alone was Rs 2.5 lakh crore, or almost 30% of all advances and 19% more than the Rs 2.13 lakh crore advances made the year before. Strong MSME performance and corporate expansion ambitions, particularly in Gujarat’s packaging, engineering, iron and steel, and pharmaceutical sectors, are what drove this rise, according to a senior SLBC official. The Production-Linked Incentive Scheme (PLI) and better balance sheets following the COVID-19 pandemic also contributed to the increase in credit demand. One important factor, according to Pathik Patwari, the former president of the Gujarat Chamber of Commerce and Industry (GCCI), is the increased working capital needs resulting from late payments.

News Updated Date: 26th June 2024

Summary of RBI’s New Guidelines on Loan Charges and Key Fact Statement (KFS)

The Reserve Bank of India (RBI) issued a directive on April 15th that prohibits all banks and regulated entities from imposing additional fees on loans that are not listed in the Key Fact Statement (KFS). This directive is set to take effect from October 1, 2024. The RBI’s move aims to enhance transparency and aid borrowers in making informed financial decisions. According to the guidelines, all new retail and MSME term loans sanctioned from the specified date must adhere to these conditions strictly.

The KFS, a crucial document in loan agreements, must be presented in clear language and include all relevant details like fees, charges, and the computation of the annual percentage rate (APR) and amortization schedule. Furthermore, the RBI requires that borrowers provide explicit consent for any charges not pre-listed in the KFS, ensuring that banks and entities cannot levy hidden fees at any stage of the loan. This policy aligns with efforts to empower borrowers and uphold financial fairness.

News Updated Date: 22th April 2024