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About Business Loan

Credit agreements come in a wide range of structures and with changed terms, extending from straightforward promissory notes among loved ones to increasingly complex advances like home loan, auto, payday and student advances.

Banks, credit associations and other individuals loan cash for critical, however vital things like a vehicle, student, advance or home. Different credits, similar to private venture advances and those from the Department of Veterans Affairs, are just accessible to choose gatherings of individuals.

Business Loan Products

Types of loans that we provide to our clients are:

Goods And Service Tax ( Gst ) Loan

As we know that the “Goods and services tax (GST)” is a value-added tax levied on most goods and services sold for domestic consumption.The GST is paid by consumers, but it is remitted to the government by the businesses selling the goods and services.But today, many private and public sector banks, government institutions and financial companies are offering loans to small and medium enterprises. One of the popular loan schemes is the GST Loan. A GST business loan is a working capital loan of up to Rs.1 crore based on GST returns for micro, small and medium enterprises. Through this scheme MSME’s (The Ministry of Micro, Small and Medium Enterprises ) can get a business loan ranging from Rs.10 lakh to Rs.1 crore with in an ample of time and less complications.In order to apply for this there are specific steps to be followed.

GST Pointers

  • Return filing Frequency = Monthly
    1. Then Number of returns in last 12 months >=6.
    2. Date of last filing return should be within 60 days of current Date.
  • If Return Filing Frequency = Quarterly,
    1. Then Number of returns in last 12 months >=2
    2. Date of last Filling Return should be within 90 days of current date
    3. In case of composition filer, PDF of GST returns required till last application quarter.
  • GSTN should be active at the time of processing
  • Average monthly sales as per GST returns should be >25000 for last 3 months .
  • For GST sanction >=10 lakhs, ITR is mandatory.
  • If only partial bank statements are available, then case can be pitches for GST but not if the case has been rejected in regular bank statement flow.
  • Renewal and top-up cases will not be considered for GST.
  • The case will remain pending toll the costumer login is done on Karza link which has been started.

Business Loan - Eligibility

Product Details :

Loan Amount : 50,000 – 50lakh (Exception can be taken for higher loan amount on case to case basis)

Tenor : 15 Days – 36 Months

Repayment : Monthly

Rate of Interest : 10.35% to 12.00% (Rate will be unique to each customer) FLAT OR REDUCING

Processing Fee : 2% + GST & INSURANCE

Documents for log-in :

  • Turnover < 1.00 Cr : 1 Year Bank Statement for all accounts (In .PDF/Excel/Notepad format), VAT/Service Tax receipts of last 1 year
  • Turnover > 1.00 Cr (Additional docs) : Audit report of last 2 years (Provisional if applicable), ITR & invoices
  • KYC will be collected by Lendingkart sales team at the time of disbursement

Process :

  • Online Application of customer with uploading of documents
  • Telephonic personal discussion by Credit Analyst
  • Approval / Rejection
  • On Approved, signing of agreement & Disbursement on same day

Targeted Sector :

Online Sellers (on Marketplaces like Amazon, Flipkart, Snapdeal) / Retailers / Service Providers / Manufacturers – Any Sector where income is verifiable from bank statement

Avoidable Industries :

Real Estate / Bar Owners / Commodity traders /Finance Companies / Film Agencies / Arms & Ammunition dealers/Tour and Travels/ REAL ESTATES AND BUILDERS/HOTELS AND BAR /RESTAURANT /Gold jewellery

* Note in Negative Industry Cases we can take call if case is good

  1. We Accept Case All Over The India
  2. We Also Do Resi Cum Office As well as Both Rented case
  3. We Only Charge 2% PF and G.S.T to customer there is
  4. We Charge Zero Foreclosure Charge
  5. We Accept Case Of All Negative Location
  6. Our Process Its Total Digital (Online Process)
  7. Loan Amount Is From 50k To 50 LAKH For first time. We Can Also Go For Higher amount Depend on Cases….
  8. Tenure is form 1 Month to 36 Months.
  9. We provide loan to 6 month old company also no vintage required
  10. Without ITR we provide loan upto 5 lakh to 8 lakh …..

We require below given documents to process this case .

* In Case Of If Company Having Turn Over below 1 Cr…

  1. 1 year All account bank statement in (PDF,NOTEPAD,rpt,txt or excel ) format from 1st Sep 2018 to till date [E-STATEMENT]
  2. ITR(17-18 FY 18-19 AY) current year and provisional for this year If Applicable
  3. Customer KYC’s (PAN Card, Resi- Proof & Office Proof (Registration Cert —Gumasta Or ST or VAT Certificate)
  4. GST CERTIFICATE …

*Following Documents Required for Pvt Ltd & LTD Company

  1. Pan card all directors (As per MCA)
  2. Aadhar card all directors (As per MCA)
  3. Business Registration Proof
  4. GST Certificate
  5. [For all his current account shown in ITR ]1 Year bank Statement – Digital format (from 1st June-18 to till date)
  6. GSTR 3B DOWNLOAD COPY FORM APRIL-18 TO TILL MONTH
  7. MOA, AOA
  8. Company Pan
  9. Audited ITR A.Y. 18-19
  10. Provisional ITR A.Y. 19-20 (if customer has)
  11. Major Purchase and Sales bill (5 to 6 bills in last six months )

*IN PARTNERSHIP FIRM or LLP Firm

  1. ADDITIONAL PARTNERSHIP DEED AND COMPANY PANCARD
  2. COI IN LLP FIRM

Get a Quote

Now apply for a Business Loan online, All you need to do is provide your details below application form.