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.
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.
No, Lendingkart offers unsecured business loans, which means you can receive funds without any collateral or keeping property as security.
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.
Yes, you can apply for a business loan from Lendingkart even if your credit score is on the lower side. Improving your credit score, however, can increase your chances of approval and help you get more favourable terms.
The maximum amount a business can get is 35 lakhs
No, The due date of the EMI payment can not be changed.
The credit evaluation process at Lendingkart is quick and efficient. Once you submit all the required documents and details, the evaluation begins immediately. The duration may vary depending on the completeness and accuracy of the information provided, but our automated system ensures that it is completed as quickly as possible.
You’ll need to provide KYC documents, business registration proof, bank statements, and any additional documents requested during the process. Ensuring that all information and documents are accurate and up to date helps speed up the credit evaluation and loan approval process.
Lendingkart offers unsecured business loans of up to ₹35 lakhs, based on your business eligibility and credit assessment.