Lendingkart Business Loan: A Comprehensive Guide & Comparison with Other Business Loans
Lendingkart Business Loan: A Comprehensive Guide & Comparison with Other Business Loans
Starting or expanding a business requires significant financial investment, and securing the right business loan can make a big difference. One popular option in India is the Lendingkart Business Loan. This article provides a detailed overview of Lendingkart business loans, their features, eligibility criteria, benefits, and a comparison with other business loan providers.
What is a Lendingkart Business Loan?
Lendingkart is a leading fintech-based NBFC (Non-Banking Financial Company) that offers quick and hassle-free business loans to small and medium enterprises (SMEs) in India. It provides loans without collateral and uses AI-based algorithms to evaluate a borrower’s creditworthiness.
Key Features of Lendingkart Business Loan
- Loan Amount: ₹50,000 to ₹2 crore
- Interest Rate: Starts from 1.5% per month (18% per annum)
- Loan Tenure: 12 to 36 months
- Processing Time: 3 days (fast disbursal)
- Collateral Requirement: No collateral required
- Processing Fee: 2% to 3% of the loan amount
- Repayment Mode: Monthly EMIs or flexible repayment options
Eligibility Criteria
To qualify for a Lendingkart business loan, you must meet the following requirements:
- Business must be operational for at least 6 months
- Minimum annual turnover of ₹90,000
- Applicant must be 21 to 65 years old
- Business should have a good financial track record
How to Apply for a Lendingkart Business Loan?
Applying for a Lendingkart loan is a simple online process:
- Visit the Lendingkart Website – Go to the official Lendingkart portal.
- Fill the Online Application – Enter business details, loan amount, and other necessary information.
- Submit Documents – Upload KYC documents, bank statements, and business registration details.
- Approval & Disbursal – Loan gets approved within 72 hours, and funds are disbursed directly into your account.
Documents Required
- PAN card and Aadhaar card
- Business registration certificate
- Bank statements (last 6–12 months)
- GST registration details
- Income tax returns (if applicable)
Comparison: Lendingkart vs Other Business Loans
Key Differences
- Faster Disbursal: Lendingkart offers one of the fastest loan disbursal processes in India.
- Higher Interest Rates: Compared to banks like SBI and HDFC, Lendingkart's interest rates are slightly higher.
- No Collateral Required: Unlike SBI and HDFC, Lendingkart does not require collateral, making it suitable for startups and small businesses.
- Limited Loan Tenure: Lendingkart’s maximum tenure is 36 months, whereas banks provide loans for up to 15 years.
Advantages of Lendingkart Business Loans
✔ Quick loan approval – Get funds in 72 hours
✔ No collateral – Ideal for startups and small businesses
✔ Flexible repayment – Monthly EMI or bullet repayment
✔ Minimal paperwork – 100% online process
Disadvantages of Lendingkart Business Loans
✖ Higher interest rates – Compared to banks
✖ Shorter repayment tenure – Maximum 3 years
✖ Processing fee – Slightly higher than traditional banks
Who Should Choose Lendingkart?
Lendingkart business loans are ideal for:
✔ Startups and MSMEs needing quick capital
✔ Businesses with no collateral for secured loans
✔ Companies with urgent cash flow needs
✔ Entrepreneurs looking for hassle-free online applications
Conclusion
Lendingkart business loans are a great option for startups and SMEs who need quick, collateral-free funding. However, if you prefer lower interest rates and longer repayment tenures, traditional bank loans from SBI or HDFC may be more suitable. Before applying, compare your options based on interest rates, repayment tenure, and loan amount to make the best financial decision for your business.
Need a Business Loan?
If you are looking for expert guidance on choosing the right business loan, feel free to reach out for personalized financial advice!
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