Business Loan in Trivandrum

The city of Trivandrum resides in and is the capital city of the Kerala State of India. This is also popular as the ‘Evergreen City of India,’ It harbours a number of major IT hubs of the country.

India has developed a lot. And with that development several industries have made their mark all over the world. Trivandrum plays a very significant role in exporting softwares. This city also has strengthened roots in the other sectors like plantation, tourism, commerce, education, and many more.

This city is one of the fastest growing and is responsible for a very high percentage of GDP of Kerala. Trivandrum is surely a city that has seen rapid growth in all its major sectors. This has made way for many enterprises to come into existence as well as have paved the way for them to have significant growth and expansion. Hence, there has been an increased demand for business loans to bolster such growth plans:

Characteristics of a Business Loan In Trivandrum

A business loan in Trivandrum can be availed in its unsecured form. This does make it easy as well as a bit rigid in some matters. Check out the following features and characteristics to know more about them:

1. No Collateral Required: The business loans in Trivandrum are mostly collateral-free. This means that the borrower may keep their assets with themselves without fear of losing them.
2. Eligibility Criteria: There are a few points that need to be fulfilled in order to be eligible for a business loan. Such eligibility criteria include:
   1. Bank statements of the previous year
   2. Chartered Accountant certified books of accounts
   3. KYC documents of the business
   4. Credit Score or CIBIL score of at least 750
   5. 1 to 3 years of business vintage
   6. Business type, and necessary documents to go along with it, like partnership deed
   7. Credit history
   8. Annual turnover
3. Easy Documentation: There is an easy Documentation procedure to be eligible for a business loan in Trivandrum. There are not many formalities and usually, the expert loan providers and their staff help you out, making the procedure very smooth.
4. Short Processing Time: The processing time for loans may have taken more than a month in earlier times, but now, it only takes 5 to 7 days to get the loan amount disbursed into the account of the borrower.
5. Interest Rates: The interest rates for a business loan in Trivandrum start from as low as 14 percent per annum and may go up to 24 percent per annum.

Advantages of Opting for LendingKart’s Services for a Business Loan in Trivandrum

At Lendingkart, you can get a number of services that you may not find anywhere else while searching for a business loan in Trivandrum. Read on to know about why you should opt for us as your business loan providers:

1. Online Application – Lendingkart has a great online procedure for submitting loan applications for business very easily. We have straightforward instructions which could be understood even by a layman.
2. Flexibility With Repayments – We are very flexible with our repayment facilities. We accept biweekly as well as monthly repayments as per the desires of the borrowers.
3. Loan Tenure Extension – With Lendingkart, one can rest assured in terms of the loan tenure. In case of any issues in the operations of a business, the owner might take out a loan for 6 months to resolve the said issue efficiently.
4. Quick Disbursal – Lendingkart has Disbursal policies that are better than any other loan providers. With us, it only takes a minimum of 3 days for the loan amount to be credited to your bank account
5. No Requirement of Collateral – One of the main reasons that people opt for Lendingkart is because of the no requirement of collateral. Instead, we have several other criteria to determine the eligibility of the borrowers.
6. Lower Interest Rates – Lendingkart ensures that its customers get only the best deals on business loans. That being said, we have a few criteria to see what interest rates might be the best suited for the borrowers if they choose to take up business loans from us.
7. Quick Processing – The processing of the business loans at Lendingkart is very easy as well. We do not delay and respect the time of our clients. That being said, we have a same-day loan approval facility, which caters to our clients who are eligible in all the aspects required.
8. One Time Processing Fee – Lendingkart does not ask for any extra fees or has any sort of hidden charges. Though we do have a processing fee which is only 2 to 3 percent.
9. Wider Loan Window – A wider loan window at Lendingkart enables the borrowers to seek loans that could be as low as 50k rupees and as high as 2 Crore rupees.