The EMI is calculated using the formula:
E = P × r × (1 + r)n / ((1 + r)n – 1)
Where, ‘E’ is the EMI, ‘P’ represents the loan amount availed, ‘r’ represents the monthly interest rate, and ‘n’ is the duration of the loan.
The EMI is calculated using the formula:
E = P × r × (1 + r)n / ((1 + r)n – 1)
Where, ‘E’ is the EMI, ‘P’ represents the loan amount availed, ‘r’ represents the monthly interest rate, and ‘n’ is the duration of the loan.
You can available an unsecured business loan upto ₹35 Lakhs.
– To be eligible for a business loan, your business must have been operational for atleast 12 months within the MSME sector.
– Applicants must have a minimum turnover of ₹75,000 in the three months preceding the loan application.
– A minimum CIBIL score of 650 is essential for loan approval.
You can check your application status at your Lendingkart account after login. It will be notified at the dashboard.
You can apply for a business loan on Lendingkart online. The process to be followed is noted in the section above.
Even though our loans are faster than banks, we urge you to provide correct documents and follow the online application process thoroughly to ensure no delays in loan approval.