Features of Lendingkart Business Loans for Women
Lendingkart is a leading FinTech business finance provider in India. Being a tech-enabled platform, Lendingkart’s business loan approval is based on business analytics and Big Data technologies. This means that there is no bias whatsoever when approving or disapproving a business loan application. The whole process is based on solid data and financial health of an enterprise. Hence, Lendingkart is a great platform for women entrepreneurs looking for a business loan. The whole process is reliable, quick and allows personalized loan terms for individual businesses.
The ticket size of our business loans for women starts at ₹ 50,000 and goes all the way up to ₹ 2 Crore. It increases the chances of a loan approval for women entrepreneurs looking for a business loan.
Lendingkart’s business loan application process is totally online, which makes it faster than applying for a loan with a bank, and also makes it totally unbiased when it comes to approvals. The online loan approval process also enables us to offer same-day loan approvals.
Once you upload the required documents online, we complete the verification process within 72 hours and disburse the loan funds in your business’s bank account. Hence, enabling fast execution of your business plans.
Lendingkart’s business loans for women do not require any kind of security and thus, give women entrepreneurs a veritable financial vehicle to grow their enterprise.
As we use data analytics for calculating all aspects of a loan offer, our business loans for women come with the best available interest rates for your category. The process works without any manual intervention and hence is free from any bias or mischief.
Our business loans for women are offered with an extended repayment window of 1 month to 36 months, adjusted as per the principal amount. There is also an option to repay the loan early if your enterprise is doing really well, through bi-weekly instalments.
Lendingkart offers business-friendly finance for women entrepreneurs, which means we have kept the acquisition costs to a bare minimum. Our business loans for women come with a simple processing charge of 2-3% based on the approved loan amount and that is it, there are no other costs involved.
Taking our business-friendly loan terms a step further, we offer the facility of zero prepayment penalties. It allows you to repay the loan in full, any time after servicing the first EMI. There are no charges, fees or penalty amount for doing so.
Benefits of Lendingkart’s Business Loans for Women
Lendingkart is a leader in FinTech finance in India, offering loans across India for women entrepreneurs and small business owners. Here are the benefits of our business loans for women.
– Unbiased process for loan approval
At Lendingkart, we believe in the economic progress of the country and its people, without succumbing to social stigmas about gender and race. Our loan application, approval, verification and disbursal processes are completely based on your entrepreneurial skill. In case, a bank or NBFC is not approving your business loan for any of the above reasons, you can apply with us a and get a quick business loan approval.
– Put your plans into action
With a superfast turnaround time of 3 days, you can put your business plans into action without having to wait for weeks or months. The quick business finance offered by Lendingkart also ensures that you do not miss out on critical business opportunities as they come your way.
– Be your own boss
Lendingkart’s business loans for women help you retain control of your enterprise and keep your valuable assets protected. Our loans are unsecured, so you do not need a collateral to apply for one, plus, unlike some invoice financing lenders and banks, we do not interfere in the running of your business at all. So, you are in control of your business, always.
– Reduce cash-flow risks
Lendingkart business loans also allow women entrepreneurs to reduce risk associated with fluctuations in cash-flow. This is especially true for relatively young SMEs and startup ventures. A business loan brings order to your working capital fund as you start building the customer base and attempt capital formation.
– Become eligible for higher funding
Lendingkart reports all your transactions to various credit bureaus, thus helping in creating credibility and goodwill for your business among leading investors and lenders. Which in turn, can open up the possibilities for getting higher funding or commercial partnership opportunities for your budding enterprise.
Business Loans for Women: Fees & Interest Rates
|Customized Interest Rates||15 to 27% *|
|Loan Tenure||up to 3 years|
|Eligibility Criteria||> ₹ 90,000 turn over for 3 Months|
|Loan Amount||₹ 50,000 – ₹ 2 crore|
|Installments||Flexible Monthly / Bi-weekly|
*Based on the health of your business, revenues and annual turnover
**Pre-closures are only allowed after the first EMI is paid in full
Eligibility Criteria for Lendingkart’s Business Loans for Women
Lendingkart has kept the eligibility requirements to the bare essentials in order to process business loans for women faster. We do not require too many documents or unnecessary paperwork that can hold-up the loan approval process.
- An established business that has been in operations for more than 6 months.
- A minimum turnover of ₹ 90,000 or more in the 3 months preceding your loan application.
- The business should not fall under blacklisted/excluded list for SBA finance.
- The business should not fall under blacklisted/excluded list for SBA finance.
- Trusts, NGOs and charitable institutions are not eligible for small business loans.
If you are not sure if your business falls under a restricted category or location, you can contact us to confirm your eligibility.
Documents Required for a Business Loans for Women
|Proprietorship||Partnership||Pvt. Ltd. / LLP / One Person Company|
|Bank statement (12 months)|
|Business registration proof|
|Proprietor(s) PAN Card Copy|
|Proprietor(s) Aadhar Card Copy|
|Partnership Deed Copy|
|Company PAN Card Copy|
1)Business Registration Certificate 2)GST filing 3)Gumastadhara 4)Trade License 5)Drug License 6)TIN 7)VAT registration
3 simple steps to your Business Loans for Women
Simply enter your personal, business and financial info to receive a Business Loans for Women offer.
Upload digital copies of your documents in a single step process for verification.
Receive your Business Loans for Women approval and disbursal within 3 working days.
Calculating EMI for Your Business Loan
Business Loan EMI explained
Equated Monthly Instalments (EMIs) break down a loan into easily repayable financial units. Each unit contains a component of the principal amount and the accrued interest. Flexible EMI schedules offered by lenders like Lendingkart Finance help you in one of the two ways. Either you can repay your loan with ease by breaking it down in small monthly instalments. Or, you can speed up the repayment of your financial debt by opting for bi-weekly instalments, halving the repayment cycle. You can also avail refinance for the previously approved loan amount with Lendingkart’s auto-renewal option.
How to Calculate Business Loans for Women EMI?
The Business Loans for Women EMI calculation is done on the basis of a simple formula i.e.
E = P x r x (1+r)n/(1+r)n-1
‘E’ is the EMI
‘P’ represents the loan amount
‘r’ stands for the interest rate offered on a monthly basis
‘n’ is the duration of the loan
Our MSME / SME loan EMI calculator is a digital version of this formula, that allows you to calculate EMI amount through a web interface. The loan EMI calculator can help you understand the breakdown of interest and principal loan amount, thus, allowing you to decide the layout of your cash resource planning.
Problems Faced by Women Entrepreneurs in India
Women entrepreneurs in India face challenges that are singular to the country, such as,
The patriarchal setup of the Indian society puts enterprising women at a disadvantage by raising questions about their ability and competitiveness. While Indian women have broken these stigmas time and again, society is yet to witness a comprehensive transformation of mindset when it comes to promoting women equality in social, economic and political life.
Aggressive behaviour of peers:
The theme of bias against women is not limited to society, but also extends into the financial sphere, where women entrepreneurs are often patronized by their peers. Often times such aggressive and assertive behaviour can be detrimental for a woman’s enterprising spirit and business vision.
Women entrepreneurs are such an isolated breed at the moment that it becomes difficult for them to join business networks, notwithstanding the aforementioned disadvantages of working in a male-dominated environment.
Quite often, an enterprising woman is also responsible for managing the household. This puts her at a disadvantage in comparison to male entrepreneurs when it comes to devoting time to business development.
Given the sheltered way in which most Indian women are brought up, it takes time for them to become a shrewd business operator. Sometimes, a stakeholder or competitor may take undue advantage of a woman entrepreneur’s trusting nature.
Safety and security:
A major problem faced by most women entrepreneurs in India is that of personal safety and security. Their work may involve odd working hours and frequent travelling to new places, which always warrants caution.
How Business Finance Helps Women Entrepreneurs in Overcoming Business Disadvantages
Business finance not only helps women in growing their business operations by streamlining production processes, eliminating cash-flow disruptions and expanding to new markets but also solves many of the traditional disadvantages faced by women entrepreneurs in India. Here is how a Lendingkart business loan for women enables an Indian woman to challenge the social and economic norms.
- With economic independence comes social value and appreciation. A business loan from Lendingkart enables success for your enterprise and hence helps in breaking the social stigma that accompanies your position.
- Economic growth also attracts investors and serious commercial partnerships for your enterprise, shutting down the naysayers in business circles. Hence enabling a future full of exciting business opportunities.
- With success comes the confidence to interact with fellow business owners and approach bigger investors/clients. So, the success brought by business finance also extends to your social and financial networks and further contributes to the growth of your enterprise.
- As your enterprise grows, you can expand the management process, relieving yourself of non-critical duties. Which in turn gives you time to balance your personal and work life.
- The experience gained by expanding your enterprise also brings about shrewdness and resourcefulness as you seek to maximize the gains from a business loan or investment.
- Finally, business finance also enables you to secure a better, safer work environment for yourself and your women employees. Thus, contributing to overall women safety and establishing your business as a shining beacon of inspiration for fellow women entrepreneurs.