When it comes to small or medium sized enterprises, alternative lending, or rather non-traditional alternative lending is a blessing when it comes to business loans. Smaller business owners are typically the underserved when it comes to being considered for loans by traditional lenders such as banks. The requirements with banks are rather stringent and for the most part, small business owners find it difficult to provide the length and depth of security or documentation.
In this scenario it is the alternative lending companies or platforms that come to the rescue. While there are many fintech companies floating in the market, there are some that are better than the others and provide more viable options to explore.
Best fintech companies for commercial business loans in India
Out of all the new age fintech companies, Lendingkart.com has secured its place as the premier platform for money lending and in supporting small and medium sized businesses. With a team that is expert in credit knowhow, financial strategy and financial management, they work with the applicant to provide the best possible and most optimized solutions for raising capital.
When it comes to fund raising, working capital loans are the most common ones required by a business. As operational loans which are mostly used for the day to day running of a business, these working capital loans are crucial to small business enterprises. Lendikart.com provides loans that are quick and easy to procure and the process is simple.
Here are a few reasons why they top the list of best fintech companies for commercial business loans in India:
No Collateral: Providing security in the form of collateral is the biggest roadblock that most smaller enterprises face when applying for loans with traditional lenders. Lendigkart.com is one of the few lending platforms that actually consider applications without asking for any collateral whatsoever. This is a huge advantage.
Nominal Interest rate: For the most part, non-banking financial institutions tend to charge a higher rate of interest on the money that they give out. The logic is simple. Since their risk is higher, they make up for the same by raising the interest rate. No so with Lendingkart. The rate of interest charged is nominal and within the capacity of the business owner.
Online application: Time is money when it comes to business. By providing the facility of end-to-end online application, lendingkart.com has simplified the process to make it user friendly as well as extremely timely. In fact, once the application is submitted, the decision making process is rather quick too.
Quick disbursal:Another reason why this platform is one of the best fintech companies for commercial business loans in India is the quick turnaround on money disbursal. Eventually, having the money in their bank account quickly is what matters to the applicant especially after approval. This is a process that is very quickly completed by the team at lendingkart.com and this adds to their credibility immensely.
Flexibility: Last but not the least is the fact that they are quite flexible when it comes to the loan amount, the tenure and the repayment method. This is in fact a USP for the non-banking financial institutions because banks tend to be very rigid with all of the above.
The point is, to be the best fintech company for business loans, one needs to offer services that help the applicant find the money that they need to run and grow the business. It’s a collaborative process and it is important that the platform that one is exploring is supportive and understands the needs as well as the challenges faced by a business. Lendingkart.com fulfills all of those requirements fully and as a market leader they offer services that are unmatched by any other platform.