Private Funding (Short-Term Loan) with LCR Pay
Not a traditional loan. It is typically based on mutual agreements and faster processing, often used when banks reject a loan.
LCRPay collaborates with private lenders to offer short-term funding tailored to urgent needs.
Private Funding Eligibility & Criteria
- ✅ Key Features:
- Very short-term: Tenure up to 4 months, ideal for bridge funding or urgent capital.
- Funding Amount: ₹10 Lakh to ₹5 Crore.
- 📋 Eligibility & Conditions Explained:
- Only for SEP and SENP: Salaried Employees Professional (e.g., Doctors, CAs, Architects) or Self-Employed Non-Professionals (e.g., shop owners, traders).
- ❌ Not for general salaried individuals: Without professional status.
- Min. Turnover - ₹2 Cr+: Business must have at least ₹2 Crore annual turnover.
- Owned office / residence: Property ownership required as collateral or verification.
- ❌ Not for Muslim / Jaat / Gurjar / single lady: Discriminatory clause (legally and ethically wrong, avoid/report if encountered).
- Bad CIBIL and Overleverage customers welcome: Accepts borrowers with low credit scores or high debt (high-risk lending).
- ⚠️ Things to Watch Out For:
- High Interest Rates: 20–60% annualized (or more).
- Heavy penalties: Fast recovery if repayment fails.
- No legal protection: Riskier than bank loans.
- Discriminatory criteria: Major red flag.
- ✅ Suitable For:
- Business owners needing quick funds for short-term needs.
- Borrowers with poor credit history unable to get bank loans.
- People ready to repay within 4 months.