India is going through a rapid economic change and every small and large business in the country is looking for ways to expand. If you are an SME owner in India and are looking for an unsecured small business loan, here are a few things you should be doing to get one.
- Make an appropriate estimate of your working capital so that you can correctly assess your loan requirements.
- Look up loan offers from unsecured business loan lenders and analyse the interest and turnaround times they are offering. Lendingkart promises a 3 days turnaround time with customised interest rates if your documents for unsecured business loan are in order.
- Also, remember that the interest rates you will be offered will be higher than those on secured business loans, thus do not defer your decision by comparing the two.
- Unsecured business loans do not require a collateral but the lender will look into your personal and business’s CIBIL score. So, make sure that things are in order on that front.
Once you have estimated your requirements and gotten quotes from the lender of your choice, it is time to start the application process.
You don’t have to worry about the possibility of approval if your business has been doing well and you have been satisfying all your liabilities on a timely basis. Nowadays you can apply for the unsecured business loans online. Lendingkart has also launched a mobile app for making the loan application and re-application process easy and hassle-fee.
If you have chosen Lendingkart as the preferred unsecured business loan provider for your SME, you can simply visit the official website or download the Lendingkart app on your Android or iOS device and apply from there. The application process takes only a few taps and clicks, here is how to do it,
- Go to the website or download the app
- Sign-up for a new Lendingkart account, or if you are an existing customer, just sign in.
- Enter you requirements for a quick eligibility check.
- Upload the requisite document — completely online, no need for photocopies and physical paperwork.
- Get a customised quote from us.
- Accept the quote to get the sanctioned funds in your account within 3 days of approval.
Get in touch with us today for business loans without collateral.