L&T Finance Holdings Ltd Business/SME Loan

Overview

L&T Finance Holdings Ltd Business/SME Loans is endorsed by Larsen & Tourbo Ltd. which is one of the largest multinationals in India. At present times, L&T is one of the leading NBFC (Non-Banking Financial Service) that provides financial solutions to a wide range of clients through its loaning and non- loaning businesses.

There are times when small business owners may find it challenging to meet the working capital shortages. It is then when they look for an ideal business loan that will help them to add some financial stability during their rough phases. And fortunate enough, these loans are available for short, medium, and long term with/without collateral as per requirement with different amount and tenure. The point is which financial institution is right to avail such loan loans.

L&T Financial Services presents small & medium enterprise that’s helps to power the business or practice to the next phase. The company provides tailored finance solutions to SMEs as well as Professionals like CA, Doctors who are running their own business with minimum documentation and attractive rate of interest.

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L&T Finance Holdings is endorsed by Larsen & Tourbo Ltd. which is one of the largest multinationals in India. At present times, L&T is one of the leading NBFC (Non-Banking Financial Service) that provides financial solutions to a wide range of clients through its loaning and non- loaning businesses.

Its loaning businesses includes

  • Rural Finance
  • Housing Finance
  • Infrastructure Finance
  • The non-loaning business of LTFS contains the mutual fund business, that takes advantage of India’s reserve funds potential by giving venture roads and channelizing them into useful monetary instruments.

At present, LTFS hold the No 1 ranking in Farm Equipment Financier, and remains third largest micro loans provider in India.

L&T Financial Services has received the highest credit ranking for an NBFC. The company has been rated AAA by four key rating agencies – CRISIL, ICRA, CARE and India Ratings to acknowledge its robust business model.

Therefore, it is indeed a good decision to take a loan from such a trustworthy company. To have more details about L&T business loans, consider reading till the end. We have tried to cover all the information regarding its features, eligibility criteria, required documents, application process and FAQs.

Read More: How to refinance your business loan?

Benefits

Swift Approval: The approval process for the loan amount is very quick and simple and includes extremely nominal steps. It is absolutely paperless for the clients who are needing monetary assistance.

Modest Repayment options: Applicants can choose their L&T EMI plan to make their repayments process simpler.  L&T provides enough flexibility of time with a number of payment mode options to repay the loan EMI amount.

Accessibility: L&T Business loan is extremely suitable for all the users. Applicants get all financial solutions at one place; one doesn’t need to worry about anything at all.

Who can get a business loan from L&T Finance

With L&T Finance, the process to apply for the loan is easy and gets approved within no time. Also, the rate of interests is quite competitive. Below is the category of customers who are eligible to apply for a business loan from L&T:

  • Applicant who is a sole/individual Proprietorship
  • Holding a private limited company
  • Having a Partnership firm
  • Closely held Public Limited Companies
  • Hospitals, Nursing Homes, Diagnostic Centres, Pathological Labs.

SME Loans – Features, Eligibility criteria, Documents required

Working hard for your business to grow will definitely be fruitful but when it comes to expanding it, you need reliable financial solutions. L&T Finance can be your right choice in this path. The SME loans are hassle- free, fully digitalized, and hence you can concentrate more on expanding your business and less on getting your loan approval. 

Features of the loan:

  • Provides unsecured Loan up to Rs. 50 lakhs 
  • Tenure up to 60 months
  • Rate of interest starting at 15.5% 
  • Competitive industry TAT
  • Live application and status Updates 
  • No Hidden Charges 

Eligibility Criteria

  • Applicant should be minimum 26 years old, and not more than 65 years
  • Expected Turnover is 80Lakhs – 250 Crores
  • Applicant should have a running business establishment of minimum 3Years
  • Bureau History of previous 6 months

Documents Required

In case, the applicant is a Firm/Company, following documents are required:

  • PAN Card,
  • Proof of address
  • Registration Certificate of GST (If Applicable) and Other Related Registrations

Incase, the applicant is Proprietor/Partner/Director, following documents are required:

  • PAN Card
  • Aadhaar Card
  • Electricity Bill/Rent Agreement

Apart from that, the following additional documents are required:

Income Documents:

  • Latest 2 years Income Tax Returns along with computation
  • Latest 2 years Profit/Loss statement and Balance Sheet
  • GST Returns
  • Bank Account Statement:
  • Up-to-date Running Bank Account Statement of 12 months
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Any applicable Fees & Charges

Interest Rate- Depending on the credit score, viable interest rates from 15.5-20.5%

Pre-Payment Charges – 2% on principal outstanding + applicable taxes

Processing Fees- 2% processing fee is applicable on the sanctioned business loan amount

Bounce Charges– Rs. 500 per bouncing charges

Business Loans for Professionals

Apart from SMEs, business loans L&T Finance also offers offer fast and hassle-free loans to grow professional practice. This loan is basically customized for professionals like Doctors, Chartered Accountants and so on to expand their business.

Features

  • Applicant can avail unsecured Loan of minimum Rs.5 lakhs and maximum Rs. 50 lakhs
  • Interest rate starting at 12.5% (Risk based)
  • Tenure up to 60 months 
  • Industry Best Turn over Time (TAT) 
  • Live updates of status 
  • No Concealed Charges 

Eligibility Criteria

  • Eligible age: Applicant should not be less than 26 years, and over 65 years
  • Applicant should be a graduate professional like a doctor, CA, etc.
  • A running Profession Vintage of minimum 3 Years
  • Minimum 6 months of earlier Bureau History

List of documents

Qualification documents: Certificate of degree and practice

Documents of income: IT Returns, Balance sheet & Computation sheet of latest 2 years

KYC documents: PAN Card, Address Proof and Other Applicable Registrations for firm or company

Aadhaar Card, Pan Card, Electricity Bill/Agreement of Rent/Index II for Proprietor/Partner/Director

Read More: Is it possible to avail credit for your business without ITR ?

Applicable Fees

  • Competitive interest rates from 12.5-14.5%- depending on the credit score
  • Pre-Payment Charge of 2% on principal remaining amount plus applicable taxes
  • One time processing Fees of 2% on the sanctioned loan amount
  • 500 of bouncing charge on every bounce

Application Process

The process to apply for business loan at L&T Finance is quite simple which you can complete without any interruptions by just completing a secure form which takes less than 10 minutes.

Then upload the necessary documents and your loan will be approved within just minutes.

  • Online application can be done by visiting their official website. There are step-to-step guide to complete the procedure.

  • Incase, an applicant is not comfortable to apply online, then they may walk in to the nearest branch to understand better the procedure and apply for the loan.

  • You may also take help over the phone or email for any kind of assistance regarding your business loan. Write to [email protected] or call at 8886666821 to know more details about your loan.

Making L&T Finance Emi Payment Online for Business loan

It is easy to pay the L&T business loan online through the website or using any third-party application by following few simple steps. Hence, one can make their loan EMI just at the click of a button. For your convenience, we have mentioned below the steps that you need to follow.

  • Firstly, under the ‘Recharges & Bill Payments’ section, click on ‘EMI Payments’
  • Next, select your operator as ‘L&T Finance’
  • Then, enter the needed user details as asked like loan number etc.
  • Click on ‘Continue’
  • Check your EMI Amount & make the payment and you are done.

How to Check L&T EMI Payment Due?

Checking your L&T dues is just as easy as making the payment. If you are using any third-party application, then you can check it there as well. They are quite secure and safe. Following the below mentioned steps will help you let you know your EMI payment dues:

  • Firstly, Go to L&T Loan payment page on your third-party application.
  • Enter the account number of your loan account.
  • Enter your mobile number (if asked)
  • Finally, click on Proceed to check your EMI status.

L&T Finance Micro Loans for women

While L&T Finance provides business loans to SMEs and professionals to help them grow in their journey, L&T Micro-finance loans for women has a similar thought of transforming the less privileged. L&T Finance focusses on those who lack the access to banking and related services, but have the aspirations to find prospects through hardships.

L&T finance serves this these small ventures so that they turn into solid success stories. The company’s deep network of network of professionals reaches to the remotest parts of the country to find out these low-income individuals and help making them self-reliant.

The Micro Finance loan started its operations in July 2008, and since then the company has been vigorously involved in helping women so that they get a justifiable livelihood with the help of this loan.

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Key Features of the micro loan

  • Applicant can avail upto Rs. 45000 through this loan for their venture.
  • The tenure of loan is upto 24 months.
  • Applicable rate of interest is 24%.
  • Loan is available without any security.
  • Term loans through Joint Liability Group (JLG).
  • Applicant can repay the amount with easy EMIs.
  • 1% of fixed processing fees is applicable.

Eligibility criteria

  • This loan is eligible for women borrowers only.
  • The minimum requirement of age is 20years and maximum is 60 years

Documents Required

Income proof – L&T Finance takes into consideration the capacity of income generation while accepting the application form.

Additional documents: Voter’s ID, Aadhar card, ration card, MGNREGA (Mahatma Gandhi National Rural Employment Guarantee Act) card

An idea can make a change. There are hundreds of minds that are full of plannings that can make a great change when guided well. SMEs can definitely help a lot in the Indian economy to grow, only it requires the financial support when in need. With the emergence of NBFCs, now business loans have become quite accessible for the SMEs. But at the same time, it is equally important to find the right financial institution to take the necessary credit.

Therefore, when your business or practice is all set for the next leap and looking for some financial solutions, then choose L&T Finance. They will be best and the most trustworthy partner for your journey.

To know more details on SME loans from L&T Finance Holdings Ltd Business. You can email [email protected] or call at  +918886666821.

FAQ’s

Why to choose L&T Business Loan?

What is the maximum business loan amount sanctioned under L&T business loan?

How to know more about L&T business loans?

Do I need to keep any collateral for L&T Business loan?

Who promotes L&T finance?

What is the interest rate for SME loan in L&T finance?

Can I apply my business loan online in L&T?

Who can apply for the practice loan?

What is the interest rate for Micro loans from L&T Finance?

What are the age criteria for SME loan in L&T Finance?

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