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.

FAQs

Frequently Asked Questions

How do I understand the rejection reasons?

For all rejected applications, you can click on “View Rejection Reason” in the XLR8 Partner Dashboard to see the specific reason for rejection. You can also download the application report to view rejection details for all applications marked as rejected.

How do I track my applications sent to Lendingkart?

You can track all your loan applications directly through the XLR8 Partner Dashboard after logging in to your account. The dashboard allows you to filter and sort applications based on status, sub-status, and other parameters, making it easy to monitor each application’s progress in real time.

Who should I reach out to in case I have any queries about the partner dashboard or API integration?

For any queries related to the Partner Dashboard or API integration, please reach out to us at help.xlr8@lendingkart.com. Our support team will be happy to assist you.

Where Can I find the API documentation link?

Please access the API documentation here – https://www.lendingkart.com/docs/xlr8/api/?shell#introduction

How do I get the API key for starting the integration process?

To get your UAT API key, please contact your Lendingkart Partnership SPOC after your lead source code is generated. Once the UAT integration is successfully completed and approved by the Lendingkart Product Team, your Production API key will be shared.

How do I login to xlr8 Partner Dashboard?

You can log in to the XLR8 Partner Dashboard using your registered mobile number or email ID along with your password linked to your profile.

FAQs

Frequently Asked Questions

ISO Certified

CKYC

FAQs

Frequently Asked Questions

Lodge a Complaint