Lendingkart Finance has identified certain industries as high-risk or unsuitable for their lending operations. These industries often involve significant financial volatility, legal complexities, or ethical concerns.
Here’s a list of industries that Lendingkart Finance typically avoids:
High-Risk Industries:
- Trading-related: Tobacco products, live animals, edible oil, bidi paper leaves, leather, coal, and shares/bitcoins/old coins.
- Manufacturing: Bricks (including fly ash bricks) and red bricks.
- Services: Film production, astrology, recovery agency, law services, and financial services (chit funds, small finance companies, stock broking, NBFCs, money lending).
- Other: Lottery business, arms and ammunition dealing, mining and mining products, power, bar/liquor, and intelligence/security agencies.
Why Avoid These Industries?
These industries are often characterized by:
- High Risk of Default: Fluctuating market conditions, economic downturns, and regulatory changes can significantly impact the financial health of businesses in these sectors.
- Complex Legal and Regulatory Environment: Industries like mining and financial services are subject to stringent regulations, making it difficult to assess risk and enforce loan agreements.
- Ethical Concerns: Some industries, such as tobacco and alcohol, raise ethical questions and may not align with Lendingkart’s corporate values.
- Limited Collateral: Businesses in these sectors may have limited assets to offer as collateral, increasing the risk of loss for the lender.
By avoiding these high-risk industries, Lendingkart Finance aims to mitigate its exposure to potential losses and maintain a strong financial position.
Note: This list is not exhaustive, and Lendingkart Finance may have specific criteria for evaluating individual loan applications. It’s always advisable to consult with a Lendingkart representative for the most accurate and up-to-date information.
Lendingkart Finance: A Quick Guide
Key Points:
- Business Vintage: 7 Months Minimum
- Property Type: Rented and Resi-Cum-Office Allowed
- Minimum Average Daily Balance (ABB): ₹5,000
- Minimum End-of-Day (EOD) Balance: 4-Digit Requirement
- Location: Pan-India (Tier 1, 2, and 3 Cities)
- Industry: FMCG Allowed
- CIBIL Score: NTC (-1) Allowed
- Age: 22 to 65 Years
- Tenure: 12 to 36 Months
- Maximum Funding: ₹35 Lakhs
Lendingkart Finance is a leading financial institution offering a range of lending solutions for businesses of all sizes. With a focus on ease of access and quick disbursals, Lendingkart has become a preferred choice for many entrepreneurs.
Key Criteria for Eligibility:
To be eligible for a loan from Lendingkart Finance, businesses must meet the following criteria:
- Business Vintage: A minimum of 7 months of operational history.
- Property Type: Both rented and residential-cum-office properties are accepted.
- Bank Account Balance: A minimum average daily balance (ABB) of ₹5,000 and a 4-digit end-of-day (EOD) balance are required.
- Location: Businesses operating in Tier 1, 2, and 3 cities across India are eligible.
- Industry: The FMCG industry is eligible for lending.
- CIBIL Score: Even with a negative CIBIL score (NTC -1), businesses may still qualify.
- Age: Business owners must be between 22 and 65 years of age.
- Tenure: Loan tenures range from 12 to 36 months.
- Funding Amount: Loans of up to ₹35 lakhs can be availed.
Why Choose Lendingkart Finance?
- Quick Disbursals: Receive funds quickly to meet your business needs.
- Minimal Documentation: A streamlined application process with minimal paperwork.
- Flexible Repayment Options: Choose repayment terms that suit your cash flow.
- Pan-India Reach: Access to funding across various locations in India.
- Customer-Centric Approach: Dedicated support to guide you through the process.
If you’re a business owner looking for flexible financing solutions, consider Lendingkart Finance. With its simplified process and eligibility criteria, you can access the funds you need to fuel your business growth.
