Is it possible to get secured loan with ...

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shane robert

| Updated on March 10, 2022 | Share-Market-Finance

Is it possible to get secured loan with bad credit score?

2 Answers
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Ashish Gupta

@ashishgupta1521 | Posted on February 23, 2021

Your credit score is a crucial aspect that’s considered by the lender if you are looking for a business loan. If you are mortgaging your property then the lender or bank may not give much importance on credit score. But if you are looking for a collateral-free loan then having a decent credit score is important. Some companies like LendingKart offer loans with minimal documents. But it is always a good practice to clear your dues on time and maintain a good credit score.
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Aanya Bhat

@aanyabhat7458 | Posted on March 10, 2022

A business credit score is an important parameter on which banks and Non-Banking Financial Companies (NBFCs) lend money or working capital loans to business firms. Poor credit history or a compromised business credit score (usually if a business credit score below 600) can be a major deterrent for start-ups to avail any financial support from formal lending agencies. This in turn makes them seek money from informal sources which can harm them by means of share dilution or unethical means of loan repayment. However, with its latest technology, EnKash has revolutionized working capital loans, making them not only collateral-free, but also free of credit scores. Owing to its carefully designed AI based spend management system and business payment interface, along with a wide range of customized corporate credit cards, financing working capital is easier than ever before.

With a 100% digital KYC, corporate credit cards can be issued in a matter of minutes right through the click of your fingertip.

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