Lendingkart Business Loan 2022

AFINOZ.COM is an online financial marketplace for customized rate quotes on loans and investment products in India. The company is owned by DS Finworld Pvt. Ltd.

Lendingkart Business Loan 2022 Highlights

Get Lendingkart Business Loan Interest Rates @ 12.00%. Check eligibility, Interest Rates, EMI Calculator, Documents & apply Lendingkart business loan online.

Description

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 lowers 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 it suits any individual’s requirements.

Lendingkart Business Loan Interest Rates

TYPE

CHARGES

Interest Rates

15% to 27%

Loan tenure

1 Month to 1 Year

Processing Charges

1-2% (One time)

Subject to a minimum amount of Rs 1000

Prepayment

No prepayment permitted until the repayment of minimum 6 months EMI

Prepayment charges

NIL

Penal Interest

2 % per month on the 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.

Lendingkart Business Loan Eligibility Criteria ( CIBIL & Financial Criterial )

Basic Criteria

Parameter Value
Type of Customer Small and Medium Enterprise
Running Online/Offline Business
In need of Working Capital Loan
Age of Business Greater than 6 months
Age of Customer 21 - 65 (Preferred 30 - 45 years)
Business Registration Type Proprietorship / Partnership / Pvt Ltd / Public Ltd / LLP/ Single owner company
Industry Preferred Industry - Online sellers, Apparel/Garments, Electronics, Mobile phone dealers, mobile accessories, FMCG, pharma/chemist, mobile recharge, Retailers, wholesalers, traders, distributors of various goods, B2B service companies, small scale industries, technology companies, manufacturing units, Education, etc. - List shared in another tab
List of Negative Industry - Shared in another tab
Region All cities except:
RED zone Pin code: No loans to be sourced - List shared in another tab
New to Credit Allowed

CIBIL Criteria

Criteria Value
CIBIL Cut-Off >=650 
Total enquiries in the last 180 days <=30
No Derogs ever  Derogs refer to Charge Off/Written Off/Settlement/Wilful Default
No current DPD in non-CC tradelines ( If only CC trade lines then at least one tradeline should have highest sanction amount >= 30K)
No 90+ ever  (with amount overdue > 1000)

Financial Criteria

Annual Turnover Greater than 12 Lakhs
Minimum Bank Account Balance Greater than 25k
Monthly Credit Transaction (nos.) Greater than 2
Last 3 Month Cheque Bounces 5 or less
Last 6 Month Cheque Bounces 8 or less
Last 12 Month Cheque Bounces 15 or less
Ongoing Liabilities (Outstanding) Outstanding Loan Amount < 3*Average Monthly Revenue
Bank Account type Savings/Current (Preferred - Current)
*Subject to Credit Evaluation  

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 crores per annum
  • Work Experience: Minimum 2 years of work experience in the current line of the 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 installment and your eligibility as per your potential.

Lendingkart Business Loan Documents Required

 
Stage Property name Property Value Document type Documents
Pre Terms     Bank Statement (12 Months)
All current accounts
Bank Statement
Business Type Proprietor Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
Proprietor PAN Propreitor PAN Card
Partnership All Partner PAN Partner's PAN Card
Company PAN Company PAN Card
Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
Partnership Deed Partnership Deed
LLP All Partner PAN Partner's PAN Card
Company PAN Company PAN Card
Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
LLP Deed Partnership Deed
Private Limited All Director PAN Partner's PAN Card
Company PAN Company PAN Card
Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
Limited company All Director PAN Partner's PAN Card
Company PAN Company PAN Card
Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
OPC All Director PAN Partner's PAN Card
Company PAN Company PAN Card
Registration Proof
  • GST Certificate
  • Shop & Establishment Act
  • Municipal Corporation/Mahanagar Palika/Gram Panchayat
  • Udyog Aadhaar
  • Drugs License/Food and drugs control certificate
  • Other
Not Registered Proprietor PAN Propreitor PAN Card
Age <30 or >60 (Additional) PG PAN Guarantor's PAN Card- Additional 
Stage Property name Property Value Document  
Post Terms     Address Proof - Individual

Is this the name that will appear in the checklist?
  • Aadhaar Card
  • Passport
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Utility Bills
  • Others
    10 Re Cheque(Primary Account) 10 Re Cheque(Primary Account)
Age <21 or > 65 ID Proof of guarantor - Aadhar/PAN
  • PAN Card
  • Aadhaar Card
 
Address Proof of Guarantor
  • Aadhaar Card
  • Registered Rent Agreement
  • Driving License
  • VoterID_IndAdd
  • UtilityBills_IndAdd
  • Others Address Proof
Loan Amount >=10L GST Returns for last 4 quarters GST Returns
ITR for last 2 years ITR Returns
Business Type OPC MOA and AOA and COI MOA and AOA and COI
Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others
Private Limited MOA and AOA and COI MOA and AOA and COI
Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others
LLP COI COI
Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others
Limited MOA and AOA and COI MOA and AOA and COI
Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others
Propreiotor Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others
Partnership Address Proof - Company
  • Aadhaar Card
  • GST Certificate
  • Registered Rent Agreement
  • Driving License
  • Voter ID
  • Passport
  • Saving A/C Bank Statement/Passbook
  • Others

A 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 the 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 the 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 the 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 an applicant or co-applicant, then ITRs of all are required) 
  • Last 2 yrs. ITR with complete financials of the 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 Features and benefits

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, the 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 a 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 the 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

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:

  1. 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.
  2. Select the loan amount and tenure - Once you meet the eligibility criteria, select the loan amount and tenure as per your eligibility and submit.
  3. 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 an 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.

About Lendingkart

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 creditworthiness 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.

Signing Location

Name of the cities with in person BD signing by LK All other Cities
Mumbai
Bangalore Norh
Bangaloe south
Hydrabad
Pune
Hydrabad
Mumbai
NORTH/WEST
Mumbai
Jaipur
Surat
Faridabad
Ahmedabad
Hydrabad
South Delhi
Varanasi
Chennai
Ahmedabad
Surat
Patna
Jaipur
Jaipur
AGRA/UP OUTER
Indore
Pune
Kolhapur
Thirvallur
Coimbatore
EAST/NORTH
Bangaloe East
Vadodara
Hyderabad
Rajkot
Udaipur
Aurangabad
Jodhpur
Valsad
Nagpur
KANPUR
Mumbai
Vijaywada
Pune
Bhilwara
Gorakhpur
Cuttak - Odisa
PANIPAT/OUTER HARYANA
GHZ/NOIDA
Ahmedabad
Thane
Mumbai
Ahmednagar
Chitoor
Banglore
Raipur
North Delhi
Tiruppur
North 24 pargan
Visakapattinam
South 24 pargan
Kolkata
Thane
ALLAHABAD
SOUTH/WEST
NORTH/CENTRE
Samastipur
GURGAON
Purnia- BIhar
Kanchipuram
Kolkata
Kolkata
Kolkata
Mumbai
Mumbai
Bairelly
Bellary
Kanpur
Delhi
Rengareddy - Hydrabad
Ludhiana
   
   

Negative Pincodes

 
Negative Pincodes
180002
180003
180004
180005
180006
180007
180009
180010
180011
180012
180013
180015
180016
180017
180018
180019
180020
181101
181102
181111
181121
181122
181123
181124
181131
181132
181133
181141
181143
181145
181152
181201
181202
181203
181204
181205
181206
181207
181221
181224
182101
182104
182121
182122
182124
182125
182126
182127
182128
182141
182142
182143
182144
182145
182146
182147
182148
182161
182201
182202
182203
182204
182205
182206
182221
182222
182301
182311
182312
182313
182315
182320
184101
184102
184104
184120
184121
184141
184142
184143
184144
184145
184148
184151
184152
184201
184202
184203
184204
184205
184206
185101
185102
185121
185131
185132
185135
185151
185152
185153
185154
185155
185156
185201
185202
185203
185211
185212
185233
185234
190001
190002
190003
190004
190005
190006
190007
190008
190009
190010
190011
190012
190014
190015
190017
190018
190019
190020
190021
190023
190024
190025
191101
191102
191103
191111
191112
191113
191121
191131
191132
191201
191202
191203
192101
192121
192122
192123
192124
192125
192126
192129
192201
192202
192210
192211
192212
192221
192230
192231
192232
192233
192301
192302
192303
192304
192305
192306
192401
193101
193103
193108
193121
193122
193123
193201
193202
193221
193222
193223
193224
193225
193301
193302
193303
193401
193402
193403
193404
193411
193501
193502
193503
193504
194101
194102
194103
194104
194105
194106
194109
194201
194301
194302
194401
194402
194403
194404
247001
247002
247120
247121
247122
247129
247231
247232
247340
247341
247342
247343
247451
247452
247453
247551
247554
247662
247665
247669
180001

Negative Indusry List

 
Negative Industry List
Arms and ammunition dealers
Financial service providers (NBFCs/ Other money lending companies)
Shares/Bitcoins/Old coins trading or Other speculative activities
Edible Oil business
Tobacco Products
Power
Mining & Mining Products
Bar / Liquor
Aircel distributor / R-com distributor
Film Producer
Intelligence Agencies/ Private Security Firms
Jewellery

Registration Document

➤ FAQs

Ques. What is the minimum and maximum amount of business loan that I can avail?

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.

Ques. Are there any pre-closure charges on business loans?

Lendingkart don’t levy any pre-closure charges on business loans

Ques. Can I repay my business loan early?

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.

Ques. How much time will it take to get the loan disbursed?

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.

Ques. How can I find out if I am eligible for the Lendingkart business loan?

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.

Ques. How can Lendingkart offer lower interest rates for its business loans?

Lending Kart offers business loans online which helps it to reduce the cost of Lending Kart business loan processing. The savings thus made are passed to their customers by offering the Lending Kart Business Loan interest rate, which is much lower than the competition.

Ques. How can I speed up the approval of my Lending Kart business loan?

If you track the lending kart business loan status, you will find out that these loans are already much faster than those from other lenders. You can speed up the process further by submitting correct lending kart business loan documents and other personal details for verification.

Ques. Lending Kart business loan offers the facility of bi-weekly installments for repaying the loan. What is the benefit of it?

The unique facility of bi-weekly installment allows you to repay the Lending Kart business loan faster. In addition, if you are using a business loan to optimize your working capital, faster repayment facility helps you to renew your loan quickly; thus, converting the loan into a form of revolving credit.

Ques. What is the minimum turnover requirement for a Lending Kart business loan?

In order to avail a Lending Kart business loan, you need to have a minimum turnover of Rs 90,000 or more in the last three months.  You need to provide supporting documents such as a valid salary proof along with other lending kart business loan documents.

Ques. Can a lending kart business loan be used for working capital management?

Yes, you can! These loans can be used to accomplish many short-term functions such as inventory management, working capital management, and purchasing equipment, among others. With a lending kart business loan, you can watch your business grow, with better overall fund management and can have absolute peace of mind!

Ques. Do I need to provide any security for availing business loan from Lendingkart?

No collateral/security is needed while applying for a business loan from Lendingkart.

Ques. What is the maximum and minimum loan tenure for a business loan from Lendingkart?

You can avail a business loan from Lendingkart for a period of 1 month to 1 year.

Ques. Will my information be safe online?

Afinoz.com is India’s most committed financial platforms which do 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.

Ques. How do I repay my Lendingkart business loan?

You can repay your loan in EMIs (Equated Monthly Installments) in the form of post-dated cheques.

Ques. How can I track my loan application process?

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.

Ques. What is the basis on which the loan limit is decided by Lendingkart?

Loan amount is mainly decided based on your annual income/earnings and your credit history.

Ques. What are the interest rates offered by Lendingkart for a business loan?

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 +0120-411-0376 or mail us at info@afinoz.com.