You can complete the credit evaluation for your business in advance and choose to request disbursement whenever you actually need the funds. Once your loan is approved, the funds are released quickly and conveniently, ensuring you have timely access to working capital when it matters most.
No, Lendingkart offers unsecured business loans, which means you can receive funds without any collateral or keeping property as security.
Loan foreclosure (or prepayment) means repaying your entire outstanding loan amount before the end of the loan tenure. You can choose to close the loan early instead of continuing with monthly EMIs. A small foreclosure charge may apply as per loan terms.
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.
Lendingkart offers unsecured business loans of up to ₹35 lakhs, based on your business eligibility and credit assessment.
To be eligible for a business loan, your business must have been operational for atleast 12 months within the MSME sector.
