Securing Funds Through an MSME Business Loan: A How-To Guide

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Capital resources are the support pillar that a business needs to sustain and accelerate its growth. Sometimes, to fulfil capital needs, a business may require an MSME loan. Small and medium enterprises have a vast scope of growth. In this journey, having options of collateral-free business loans for small businesses can be a great financial assistance. Let’s understand how you can secure the needed funds through business loans for new businesses.

MSME Loan Apply Online: Step-by-Step Process

The online application for MSME loan has made the whole procedure quite fast and easy. People can apply for MSME Loan emi calculator from anywhere without any hassle. LendingKart offers collateral-free MSME loans at zero prepayment fees. The procedure for the same are:

  • Step 1: On the Website

On the website of Lendingkart, click on the option “MSME loan” and proceed

  • Step 2: Eligibility Check

You can fill in the details as asked like name, email id, monthly sales, etc. to check your eligibility for the loan. Also under MSME, there are three types of loan options. Take a look at them and choose one that best suits for needs:

  • Shishu for loans up to ₹50,000
  • Kishor for loans over ₹50,000 to ₹5 lakhs
  • Tarun for loans over ₹5 lakhs up to ₹10 lakhs.
  • Step 3: Application Form

Fill out the application form and submit it along with the required documents, such as your PAN and Adhaar Card. 

  • Step 4: Verification

The Lendingkart team will verify your application and approve the loan immediately

  • Step 5: Loan Disbursal

Upon approval of the loan, the loan amount will be disbursed to your mentioned bank account without any delay.

MSME Loan Calculator

On the website, you can find the MSME loan calculator. This is an online calculator that helps you make an informed decision. You can enter the loan amount and details to calculate the lump-sum interest charged for the type of loan you are seeking. This quick and instant calculator helps you make a practical decision.

Business Loan App: Lendingkart

MSME loan apply online has become easier than ever before. Using the business loan app of LendingKart, apply for a loan at your fingertips. You can download the mobile application on your smartphone and do the formality to apply for the loan.

Here are the benefits you can enjoy with the Lendingkart business loan app for MSME loans:

  • Quick Process

The quick and accelerated loan application process of LendingKart makes it a popular choice. You no longer have to wait for weeks and months for the loan to get approved.

  • Zero Prepayment Fees 

There can be a situation when you have a financial surplus and you want to close the loan. With LendingKart, you can close a loan without any prepayment fees.

  • Collateral-free Loans

MSME loans at LendingKart are unsecured loans. Hence, you need not present collateral against the business loan.

  • Easy Eligibility

The eligibility criteria is quite easy to fulfil. So, any new or small business can look forward to the business loans for small business loans offered by LendingKart.

End Words

The MSME sector is the backbone of any economy, especially of the Indian economy. The vast contribution of MSME sectors is commendable. LendingKart strives to cater to and fulfil the financial needs of small and medium enterprises for growth and management. If you are also looking for MSME loans, LendingKart can be your choice. Through the LendingKart business loan app, the process has become easier than ever before.

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Daniel.L