Lendingkart Finance Private Ltd. (formerly known as Aadri Infin Limited) is an RBI registered NBFC (Non- Banking Financial Company) providing financial services and SME lending in India. It is registered as a Non-Govt Company at the Registrar of Companies, Ahmedabad and was incorporated on 15th December 2014. Lendingkart has an employee workforce of over 500 and has established its footprints in around 135 cities across 22 states of India. Lendingkart has made it easy for SMEs to receive business loans by influencing technology and analytical tools to access the credit worthiness of small businesses accurately and rapidly. The company offers a host of retail and corporate banking, lending, investments, advisory and treasury services along with lending agricultural loans and micro-financing services.
Lendingkart Business Loan
Businesses sometimes need loans to meet their daily operations or for the purpose of expanding their firm. Business loan acts as a perfect financial aid to meet the financial crunch of the new or existing businesses. Lendingkart business loans are created exclusively for SMEs and MSMEs to help them grow and diversify their businesses further. Lendingkart strives for the easy availability and accessibility of working capital finance to the entrepreneurs, so that they can focus on their business growth instead of worrying about their cash-flow crunch. Lendingkart offers a hassle-free business loan application process with simplified documentation, flexible loan tenure and lower interest rate for businesses of all sizes. Lendingkart business loans can also be availed against any collateral or security which has a good market value and is freely transferable. Lendingkart provides you with a customized loan application process such that its suits any individual’s requirements. Afinoz.com has an exclusive tie-up with Lendingkart. Therefore applying for Lendingkart business loan through Afinoz.com makes the process of application and approval of business loans from Lendingkart much easier and quicker. By availing the benefits of Lendingkart business loans through Afinoz.com, business owners can achieve their dreams of establishing a profitable and productive business.
What is Afinoz.com?
Afinoz.com is India's foremost online financial marketplace for availing loans and investments. Our main objective is to make the process of getting a loan or making an investment safer, convenient and hassle-free for individuals. We work with public and private banks, NBFCs and mutual fund houses across the entire country and offer an unbiased quotation on financial products. You can contact our team to get more information or apply for a loan or investment by calling on +918795021552 or by emailing at email@example.com. Afinoz.com provides solutions which are quick, reliable, transparent, confidential and above all free.
Features and benefits of Lendingkart Business Loan
Lendingkart has attractive benefits from quick loan approval, to flexible interest rates along with longer loan tenure. The maximum amount of business loan offered by Lendingkart to its customers depends on a lot of factors such as profits generated by the business in the last 3 years, credit history of the borrowing entity etc., including their loan requirements. Following are the various features and benefits which a customer can avail when applying for business loans to fulfill their financial needs:
- Online eligibility check: Check your eligibility for availing business loan online as per your requirements within a minute
- Quick Disbursement: Loans are usually disbursed within 3 days of approval based on your credit history and your requirement
- Lendingkart offers collateral/security free business loans based on EMI’s
- You can avail a business loan up to Rs. 1 crore without providing any collateral/security/guarantor
- The maximum amount of business loan that can be sanctioned depends on the quality and size of your business including the profits being generated per year
- Flexible tenure: Lendingkart provides flexibility to its customers in the form of loan tenure which ranges from 1 month to 1 year
- Provides a high level of transparency to its customers about the charges involved at each stage of the loan process
- Very low processing fee of around 1% of the sanctioned amount is charged while taking a business loan from Lendingkart
- Easy and simple documentation
- No hidden charges
- Zero foreclosure charges
- Attractive Interest Rates: If you have a higher credit score or if you provide a collateral/security for availing business loan, then you will be charged a lower interest rate on your business loan by Lendingkart. It is always advisable to calculate your cost versus benefit ratio, before availing any business loan.
- Very low pre-payment charges
- Quantum of borrowing under Lendingkart business loan ranges from Rs. 50,000 to Rs. 1 crore
Lendingkart business loan eligibility and Lendingkart business loan interest rates can easily be evaluated through and seen on Afinoz’s website. If there is any query about Lendingkart business loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at firstname.lastname@example.org and get all the solutions at one go.
Lendingkart Business loan Eligibility Criteria
Any Indian citizen having his own business and having residual income and the ability to repay the loan is eligible for Lendingkart business loans. Other parameters that a loan seeker must satisfy in order to be eligible for getting a business loan for their business are mentioned below:
- Individuals whose businesses are constituted as any one of the following are eligible to apply for a business loan from Lendingkart:
- Partnership Firm
- Private Limited Company
- Self-employed Professional/Non-Professional
- Unlisted Public Limited Company
- Proprietorship company
- LLP(Limited Liability Partnership Company)
- Trust, Societies and Section 25 Companies(mainly for hospitals or educational institutions)
- Age: Minimum age at the time of application of loan should be 21 years; Maximum age at the time of maturity should be 65 years
- Business Vintage: The business should have been well-established and should be up and running for the last 3 years
- Turnover: The gross income of the company should range from Rs. 10 lakhs to Rs. 2 crore per annum
- Work Experience: Minimum 2 years of work experience in the current line of field for Self-employed individuals
- CIBIL score: Loan approval will be difficult if your CIBIL score is low. In some cases, even if your credit score is low, but your business is doing good then your loan application might get approved, but you might be asked to pay a high-interest rate and will be offered many unfavorable terms and conditions on your loan.
- Lendingkart business loan eligibility calculator: Using the business loan EMI calculator and business loan eligibility calculator at Afinoz.com you can easily calculate the exact amount of your monthly instalment and your eligibility as per your potential.
Lendingkart Business Loan Documents Required
Business loan entails the simplest form of documents which can vary slightly for different types of companies like self-employed individual proprietorship firms, private limited companies, and partnership firms. Thus, for obtaining the maximum amount of loan, a borrower should produce the documents according to their business profiles as follows:
Documents for Self-employed & Proprietorship Companies
- Application form with a recent photograph of all co-applicants
- Financial Documents: Copy of IT returns/P&L and balance sheets of last 3 years as documented and verified by CA
- Bank statement: Last 6 months bank statement
- Existing Loans: If you have any existing loan, then the sanction letter of that loan/loans along with its repayment records or account statement
- Proof of business ownership: Certified copy of Proprietorship deed/Service tax certificate/Tax bill/Certificate of Shop and establishment
Documents for Private Ltd. Companies
- Application form with a recent photograph of all directors (as they stand as co-applicant)
- PAN card/Form 60 - For all the Directors as they stand as co-applicant
- Last 2 yrs. Individual ITR along with COI(certification of incorporation) of all directors
- Any electricity or water bill of residence or office for ownership
- Last 3 yrs. ITR with Complete financials
- Landline/Postpaid phone bill
- MOA(Memorandum of Association)
- List of director and shareholders
- Business Ownership Proof: Registration proof of company
- Bank Statement: Last 1-year bank statement (all major accounts)
- All running loan schedules, if any
- Current year vat and service tax return
Documents for Partnership Firms
- Application form with a recent photograph of all the partners
- PAN card of the firm
- PAN card of all partners
- In case if there are multiple partners in a firm, ample number of co-applicants must be made part of the loan application such that total ownership of all loan applicants exceeds 51%
- Address proof: Residence address proof of all partners (electricity bill, water bill, house tax receipt)
- Business Ownership Proof: Office address proof of firm (latest phone bill not older than 2 months)
- Any registration proof in the name of firm
- Partnership deed copy
- Financial Documents: Last 2 yrs. Individual partner's ITR with computation of income (if more than 1 partner is acting as applicant or co-applicant , then ITRs of all are required)
- Last 2 yrs. ITR with complete financials of firm
- Any 3 yr. old continuity proof (if incorporation date mentioned in registration proof then not required)
- Bank Statement: Last 1 Year bank statement of the main account
- All running loan schedules and their statements
- Last 4 quarters of Vat or service tax return whichever is applicable.
Lendingkart Business Loan Interest Rates
16% ( Up to 50 lakhs )
27% ( Above 50 lakhs )
1 Month to 1 Year
Up to 1.00% of the total sanctioned loan amount + Service Tax
Subject to a minimum amount of Rs 1000
No prepayment permitted until the repayment of minimum 6 months EMI
2 % per month on overdue installment amount
Special Note: Rates are subject to periodic change. Business loan interest rates in Lendingkart and other fees and charges are subject to regular review and can vary from customer to customer depending upon a number of factors ranging from credit score, to existing loans, amount of savings, company with which you are currently employed, number of years of relationship with Lendingkart etc.
Why should you apply for Lendingkart business loan through Afinoz?
Afinoz.com is India's finest personalized financial marketplace. We have created a business loan platform which lets you choose the best business loan that meets your requirements from the multiple options that are available to you.
- Instant Approval - Once you fill in and submit the application form along with the mentioned documents, you will get your e-approval within 2 to 3 business days.
- Real-time application tracking - Keep track of your application status in real-time with a unique transaction id which is generated at the time of loan application submission on our website. We ensure that all the applicants are kept informed about their application process at each step via SMS and emails.
- Online eligibility check - Do all your dealings with the bank online. You have to Provide your basic information and our online business loan eligibility calculator will let you know the amount of loan you are eligible to borrow from Lendingkart for financing your business.
- Secure Environment - Afinoz.com has built-in security for your personal information which is stored in a secure environment on our system with your consent. This information is then sent to the bank in an encrypted format digitally and is very secured and scripted.
- 24/7 Customer Service - At any stage of the process if you have any query or seek any financial advice, our experienced and well-trained customer service team will offer the best financing/investment solutions to your problems. So there's no need for you to waste time and make multiple trips to any bank, NBFC or financial institution to discuss the various terms and conditions.
- No third-party agent - Afinoz.com online loan application process is free of any unwanted expenses and delays. One can approach a bank online directly through Afinoz without approaching any agent.
- Free quotations - Get the best online deals on Lendingkart business loans and free unbiased quotes on business loan interest rates. All you have to do is to select the loan amount you want to borrow and the tenure you want it for. You will get a targeted online quote within minutes of application.
How to apply for Lendingkart business Loan on Afinoz?
Lendingkart has an exclusive tie-up with afinoz.com. If you are looking for a business loan then you can simply log on to Afinoz.com to check your business loan eligibility and apply for a loan.
Business owners can apply for a loan in Lendingkart through Afinoz.com in the following three simple steps:
- Check your eligibility for a business loan - Firstly, you need to make sure you meet Lendingkart business loan eligibility criteria on Afinoz.com. For that, you have to submit some basic details relating to you and your business such as the employment type, business turnover, city, mobile number, email id on our business loan eligibility page. Once you submit these details, our system intelligence then runs an algorithm and get's you a quick quotation on the best business loan options available to you immediately.
- Select the loan amount and tenure - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit.
- Upload and submit documents - In the next step, fill out the application form along with details of the KYC documents and submit your application for processing from Lendingkart. The bank then verifies the applicant's information and starts processing the loan for disbursement.
At each step of the application process, Afinoz.com allows it's applicant to keep track of the status of their application in real-time via SMS as well as through emails. Due to such simplified and fast processing, Afinoz.com has become the most popular option among a number of business owners.
Query-What is the minimum and maximum amount of business loan that I can avail?
Reply- Lendingkart provides a minimum loan amount of Rs. 50,000 up to the maximum amount of Rs. 1 crore as per your business finance needs and your eligibility.
Query- Are there any pre-closure charges on business loans?
Reply- Lendingkart don’t levy any pre-closure charges on business loans
Query- Can I repay my business loan early?
Reply-Yes, you can pre-pay your business loan after a period of 6 months or repayment of 6 EMIs whichever is earlier or as per the terms and conditions stated by Lendingkart.
Query- How much time will it take to get the loan disbursed?
Reply- Once you fill in and submit the application form online on Afinoz.com, the organization will then take 2 to3 business days to process and disburse the business loan amount. The sole approval time of the loan depends exclusively on the loan amount and your eligibility.
Query-How can I find out if I am eligible for the Lendingkart business loan?
Reply-Afinoz.com provides you with an eligibility calculator called business loan eligibility calculator which you can use to determine your eligibility for a business loan. It will also tell you the amount up to which you can avail this loan.
Query-Do I need to provide any security for availing business loan from Lendingkart?
Reply-No collateral/security is needed while applying for a business loan from Lendingkart.
Query-What is the maximum and minimum loan tenure for a business loan from Lendingkart?
Reply- You can avail a business loan from Lendingkart for a period of 1 month to 1 year.
Query- Will my information be safe online?
Reply-Afinoz.com is India’s most committed financial platforms which does not share any of its client data with third-parties other than the concerned financial institution/s. All the data is sent online in an encrypted format making it safe and secure at all times.
Query- How do I repay my Lendingkart business loan?
Reply-You can repay your loan in EMIs (Equated Monthly Installments) in the form of post-dated cheques.
Query- How can I track my loan application process?
Reply- You can log onto our website www.afinoz.com with the unique transaction ID provided to you at the time of signup and track your application. You can also track your application process through your registered mobile number and email-ID in real-time.
Query- What is the basis on which the loan limit is decided by Lendingkart?
Reply-Loan amount is mainly decided based on your annual income/earnings and your credit history.
Query-What are the interest rates offered by Lendingkart for a business loan?
Reply-Lendingkart business loan interest rates currently range from 16% to 27% /.
For any query about Lendingkart business loan application, you can log on to afinoz.com or give us a call at +918795021552 or mail us at email@example.com.