This fintech of Gujarat gives collateral free small loans to traders in just 72 hours. These collateral free loans are given for up to 36 months. Startup Lendingkart offers loans up to Rs 2 crore.
Working capital facility for new business
Since inception in 2014, Lendingkart has given loans worth Rs 4,500 crore to about 70 thousand customers. The company offers loans up to Rs 5 lakh for 6 to 36 months, which businesses can use as working capital.
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Lendingkart’s co-founder Harshvardhan had worked in the Lunia advisory business. But his experience in lending was new then. Lunia said that to make it, we needed a team that could make it. A platform was to be created for the borrowers without seeing and getting loans. Apart from this, such people were also needed who would give us the money to give loans. We are working out solutions to some of these challenges.
Reach in 1300 cities across the country
The startup, which started with Rs 1.10 crore, has so far raised equity of about Rs 1 thousand crore. Lendingkart has made a good hold through its offices in Mumbai, Delhi, NCR, Kolkata and Ahmedabad. Apart from these, the company is providing loans to small traders in about 1,300 cities.
they get loan
Harshvardhan Lunia says that the company gives loans to small businesses such as coaching classes, computer academy, mobile phone seller, cloth merchant, two-wheeler repair shop.
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