What is a business loan, and who can apply?

A business loan is financial support provided to MSMEs and entrepreneurs to fund growth and manage operations, repayable with interest over a set period. Eligible applicants include proprietorships, partnerships, LLPs, and private limited companies.

What can I use the business loan for?

You can use the loan for working capital, buying machinery, expanding operations, hiring staff, or other business-related expenses

Do I need to visit a LendingKart branch to apply?

No. LendingKart offers a fully online application process, so you can apply and receive funds without visiting a branch.

How can I apply for a business loan online?

You can apply for a business loan online via LendingKart’s website. Fill out a simple form, upload your documents, and get approval digitally without visiting a branch.

What are the eligibility criteria for a business loan at LendingKart?

To qualify for a LendingKart business loan, applicants should be self-employed individuals, MSMEs, or small businesses with at least 12 months of operations and consistent revenue. The business must be registered in India and demonstrate healthy cash flow and repayment capacity, supported by financial documents and a credit assessment.

What documents are required for a business loan?

You will need your business registration proof, bank statements, GST filings, and basic KYC documents such as ID and address proof.

Can I apply if my credit score is low or if I run a startup business?

Yes. LendingKart evaluates other data points like GST filings, bank statements, and cash flow performance, not just credit scores.

What are the interest rates for business loans at LendingKart?

Interest rates start as low as 13.5% per annum, depending on loan type, amount, and repayment profile.

How much can I borrow with a business loan?

Depending on eligibility and business performance, you can borrow from ₹1 lakh to ₹35 lakh. The exact amount depends on your credit score, cash flow, and repayment history

How long does it take for loan approval and disbursal?

With LendingKart’s fully digital process, loan approval and disbursal typically happen within 3 working days, much faster than traditional banks.

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Frequently Asked Questions

How long does it take for a LendingKart NACH mandate to get activated?

A NACH mandate typically gets activated within a few working days after successful bank verification.

What happens if my LendingKart NACH payment fails or gets rejected?

If a NACH payment fails, you may be notified to make the payment manually, and late charges may apply.

Can I change my bank account details for an active LendingKart NACH mandate?

Yes, bank details can be updated by submitting a new NACH mandate through our support team.

How will I know if my LendingKart NACH mandate is successfully registered?

We notify you via SMS or email once your NACH payment setup is successfully completed.

What should I do if my EMI is debited twice for a LendingKart loan through NACH?

In case of a duplicate NACH payment, contact us immediately, and we will assist with resolution or refund.

When can I cancel a NACH mandate for my business loan online?

You can cancel at any time if you want to stop automatic EMI debits, subject to bank confirmation and loan terms.

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