Apply for Instant Business Loans – Via Lendingkart App Today!

Lendingkart Instant Business Loans

Business loans for startups are a difficult thing to achieve. For existing businesses, the story is different. A business can apply for a working capital loan based on its age and turnover. Banks have been the usual go-to option for people and businesses for getting financial aid. Alternative digital lenders or NBFCs have become the better choice for businesses now. Lendingkart, as a digital lender, offers short term working capital loans to existing small businesses. One can apply for a business loan through the website or the Lendingkart Instant Business Loans app on Google Playstore.

Requirements for Applying for a Business Loan on Lendingkart Instant Business Loans App

One must bear in mind that this app is for running businesses. The following borrowers can apply for a working capital loan –

1. Businesses more than 3 months old
2. Business that are seeking a supplementary short-term loan for managing sudden emergencies

The business should have an annual turnover of at least INR 3 lakhs.

How to Apply for a Business Loan through Lendingkart Instant Business Loans App

You have the option to apply for a business loan either through our app or website. The app available on Google Playstore is simple to understand. You can use this link to visit the website and download the app. Or you can just search for ‘Lendingkart’ on Playstore to get the following results.

Step 1: Use the highlighted result above to get to the following screen.

Step 2: Tap on ‘Install’ to get started.

The app will access your Google account to verify your identity. It will require access to Photos/Media/Files, SMS, Contacts and Phone. Camera, WIFI and internet data access for video proof.

Step 3: Open the application from the Play Store page or by selecting the LK icon in the app drawer.

Basic Information

Step 4: In the first screen, tap on “Get Started” or “Open” and enter your registered mobile number in the following screen. You will receive an OTP through SMS to verify your phone number.

Please note the following three details required to apply for a loan successfully.

1. Details of your business (Type, Date of establishment, turnover, industry etc.)
2. PAN Number
3. Working bank account (use the one meant for your business)

Step 5: In the ‘About Your Business’ screen, enter the details as asked in the following fields.

For Registration type, you can choose any one of the following options.

1. Proprietorship
2. Partnership
3. Ltd.
4. One-person company
5. LLP
6. Limited company
7. Not registered

Step 6: In ‘How old is your business’, 6 options are available. From ‘Planning to start’ to ‘More than 5 years’.

You can choose the industry type of your company from the following list.

 

Step 7: Choose the annual turnover of your company, the acting owner of the company and the PIN code of the business address. Enter the details carefully as you cannot edit these later. Click ‘Confirm’.

If your business doesn’t meet the basic business loan eligibility criteria of being 3 months’ old or having 3 lakhs annual turnover, you might encounter the following screen.

 

Credit Eligibility Information

Step 8: If the application proceeds to the PAN details screen, enter the PAN details of the owner. In case there are multiple owners, you must enter the name and PAN numbers of multiple people.

Press the ‘Confirm’ button and please wait till the application verifies your PAN details. This process hardly takes any time. The following screen has a progress bar.

Based on your credit history and credit score, you might encounter either of the following screens.

Pre-approved Loan Offer and Bank Information

Step 9: In case you reach the ‘Pre-approved Loan Offer’ page, you can view details of the loan amount and terms and conditions applicable. You can also choose the option of ‘Proceed for Higher Loan’. In that case, it will be a longer process that we will cover in another article.

Step 10: After agreeing to the ‘Pre-approved Loan Offer’, your loan processing will be initiated. Post that, you will come across the following screens. Use the “I Agree to the Loan Offer” option. 

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Step 11: Add a bank account where you need the loan, along with the current business and home address. Here select the “OK. Let’s Complete” button to proceed. 

References and Personal Identity Information

 

Step 12: Thereafter, add two references of people you know and trust. You can pick them from your Contacts list if you want.

Step 13: Lastly, you need to record a 5 second video of yourself holding your PAN Card. Try to keep yourself in the outline of the window.

Lendingkart Instant Business Loan App Process Completion

Step 14: From here, you can go to the ‘Dashboard’ to view the details of your application. In case your company is a ‘Pvt. Ltd.’, you must complete an online application form. ‘OK. Go to Application Form’.

Important Points Regarding Lendingkart Instant Business Loans App

There are a few things to keep in mind when using the application on your phone. Please ensure –

1. Your phone camera and mic work
2. The phone has internet access, through WIFI or through 3G/4G
3. The bank account you provided has business transactions
4. Your email address works and you can access your emails
5. You use your primary mobile number for registration
6. You follow the instructions on the screens perfectly

While using the Lendingkart Instant Business Loans app, it helps if you –

1. Use a current account as your bank account
2. Provide as detailed information about owners as possible
3. Provide detailed contact addresses to receive the agreement
4. Connect your bank account (it is much faster that way and secure as well!)

Need more help while applying through the app? Stuck in the middle of the process? You can always reach the team at this number – 1800 572 0202.

Advantages of Applying with Lendingkart Instant Business Loans App

Lendingkart’s instant business loans app allows for swift and hassle-free financing solutions. Whether you’re a startup or an established business, this app offers several key advantages:

• User-Friendly Interface: The well-designed interface ensures that even those without extensive technical expertise can navigate the app with ease, making it an accessible tool for all users.
• Quick Disbursal: What makes this the best business loan app in India is that it ensures users can access funds promptly, helping address financial needs without delays, which is crucial for startups.
• Flexible Repayment: Users can tailor their loan repayment schedule to align with their business’s cash flow, providing essential flexibility.
• Minimal Documentation: The application process is streamlined and hassle-free, with minimal documentation requirements. This allows users to focus on their core business activities.
• Carry It Anywhere: The app’s mobility allows you to carry it with you. Whether you’re at your office, on the go, or working from home, with such instant business startup loan apps in India, you can apply for a loan from anywhere.
• Personalized Offers: The app provides personalized loan offers based on your business’s financial profile and catered to your unique needs.
• Prompt Customer Support: Should you have any questions or concerns, responsive customer support on the app is available to assist you throughout the loan application process.

What are the Types of Loans Offered by Lendingkart

• Business Loan: Lendingkart’s standard business loan is designed to support businesses with varying financial needs. It can be used for activities like scaling up operations, purchasing inventory, or meeting other growth requirements. 

• Working Capital Loan: This type of loan is ideal for businesses looking to manage their daily operational expenses. It helps in maintaining a healthy cash flow. It ensures that your business runs smoothly even during challenging periods. 

• MSME Loan: Lendingkart provides loans to Micro, Small, and Medium Enterprises (MSMEs) to help them grow their ventures and compete in the market. These loans are structured to address the unique financial challenges faced by MSMEs in India. 

• Business Loan for Women: Lendingkart offers specific loan products tailored for women entrepreneurs. It encourages women to start, grow, and expand their businesses with easy access to capital. 

• Personal Loan:  Though primarily focused on business loans, Lendingkart also offers personal loans to business owners to cover unexpected personal expenses. This ensures you can keep your personal and business finances stable. 

Features of Loans by Lendingkart

• Multi-Purpose Loans: Lendingkart’s business loans offer flexibility, allowing business owners to use funds for a wide range of purposes. Whether you need to purchase equipment, expand your operations, or hire new staff, these loans can be tailored to meet your business needs. They help you grow at the right pace. 

• Secured + Unsecured Loans: With Lendingkart, you can get both options for secured and unsecured loans, depending on your business needs. This makes it easy for small and medium-sized businesses to access funds without risking their assets or keeping assets when required. For the former, as long as you maintain a solid credit profile and demonstrate a steady cash flow, your business can qualify for financing.  

• Competitive Interest Rates: Lendingkart offers business loan interest rates that are competitive and designed to fit your financial situation. These rates depend on factors like credit score, loan amount, and repayment capability, ensuring you can comfortably manage repayments while growing your business. 

• Tax Benefits: Business loans through Lendingkart may offer tax deductions under sections of the Income Tax Act, of 1961. This means that not only do you receive financial support for your business but you also gain tax benefits, reducing your overall financial burden. 

• Helps Build Credit History: Repaying business loans on time helps you establish a stronger credit history. By taking out short-term loans and responsibly managing repayments, you can boost your credibility, making it easier to obtain loans or other forms of credit in the future. 

Conclusion

Applying for an instant business loan through the Lendingkart app is a smart solution for entrepreneurs in India. With flexible loan options, no requirement for collateral, and competitive interest rates, Lendingkart makes accessing funds hassle-free and efficient. Whether you are looking to expand your business, improve cash flow, or invest in growth, our business loans are designed to meet each and every unique needs. Plus, you can benefit from tax savings and improve your credit history while ensuring your business continues to thrive. Follow the easy steps to download the app and complete your application process to apply for feasible loan options. Start your business journey today! 

You can contact our loan customer care number at 1800-572-0202 or care@lendingkart.com.

FAQs

1. What types of business loans are available through the app?
   Through Lendingkart’s online business loan app, you can access various types of business loans tailored to your specific needs and circumstances. These may include term loans, working capital loans, equipment financing, and more.
2. Can I calculate the EMI for my business loan using the app?
   Yes, one of the features of Lendingkart’s business loan app is the ability to calculate your Equated Monthly Installment (EMI) conveniently. This allows you to plan your finances effectively and understand the repayment schedule for your loan.
3. Is my personal and financial information safe when using the app?
   Rest assured, when using the best app for business loans, your personal and financial information is in secure hands. Strict security measures and encryption protocols are in place to safeguard your data.
4. Can I check the status of my loan application within the app?
   Absolutely, this online business loan app in India offers the convenience of real-time status checks for your loan application. This transparency allows you to stay updated on the progress of your loan approval process, providing you with valuable insights into your loan’s status.