You can get up to 25 lakh business loans within 72 hours. The required age should be 21 to 63 years. The interest rate starts from 14% to 16% per annum.
Also, you have to fill out the other documents. Check out the article in detail.
Business Loan Quick Recap
| Loan Amount | Up To 25 Lakh |
| Rate of Interest | 14% to 16% p.a. |
| Loan Term | 1 -3 years |
| Age Required | 21 -63 years |
| Income Required | 12 lac per annum |
| Processing Fees | Up to 3% of the loan amount |
| Eligible For | Self Employed |
Features & Benefits of Business Loan
Instant Approval: Get the business loan within 72 hours. This is a fast & instant loan process.
Maximum Loan Amount: You can get up to a loan of up to 25 lakhs. This is a higher loan amount compared to other finance.
Minimum Documents: You must provide the minimum documents required to get this business loan. KYC documents& bank statements are the necessary documents.
Repayment Tenure: The loan repayment tenure is 12 to 36 months. You can pay EMI with easy monthly installments.
Top-Up Loan: A top-up loan facility is available after 6 successful EMIs.
CIBIL Not Required: Don’t require a credit score. You can apply for a business loan with a zero CIBIL score.
Online Process: You don’t have to go to any branch. You will get the loan online.
Also Read: Can I get personal loan if my salary is 12000?
Eligibility Criteria to Get Business Loan up to 25 lakh
Let’s check the eligibility criteria to get a business loan of up to 25 lakh
- Should be an Indian Citizen
- Minimum Age 21 to 63 years required
- Applicant should have a minimum 2-year vintage Proof required
- Annual bank turnover required Rs. 12 lakh
- CIBIL score required -1/700+
Documents Required for Business Loan
- Applicant Pan Card
- Applicant Aadhaar Card
- 1 yr. Bank Statement pdf
- 2 yr Trade License / MSME Certificate/ ITR File required
- Residential proof (Electricity Bill)
- Co-applicant Pan Card
- Co-applicant Aadhaar Card
Also Read: Paytm Business Loan
Interest & Other Charges
| Interest Rate | 14% to 16% p.a. |
| Processing fee | 3% + GST |
| Late Payment fee | Applicable |
How to Apply for a Business Loan up to 25 lakhs
Step 1: Click on the “Lendingkart Business Loan” button to start.
Step 2: Enter the active mobile number.
Step 3: Enter the KYC & other details.
Step 4: Upload KYC documents & 1 year bank statement.
Step 5: After checking CIBIL & eligibility criteria, you will get the loan offer. It will take around 24 hours to get the loan offer and the money will be credited within 72 hours.
FAQs on Business Loan up to 25 lakhs
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What are the eligibility criteria to get a business loan?
Your yearly bank transaction requires a minimum of 12 lac & recent 3-month average balance required 8,000 to get the loan offer.
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Can I apply for a loan with Trade License?
You can apply for a business loan with a minimum 2-year Trade License. One trade license will be old & one should be old.
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Which bank account will require current or saving?
You can apply for a business loan through current or savings. Just upload the bank statement that matches our eligibility criteria.
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I have a Private Ltd company. Can I apply for a Lendingkart business loan?
You can apply for a loan. But you have to give proper documents like a partnership deed, business pan card, etc.
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What is the maximum loan repayment tenure?
The loan repayment tenure is 1 year to 3 years.