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Business Loan

Business Loan Online ComaprisionComparision
Banks Interest Rate(%) Processing Fee Range Loan Amount Tenure Range  
SHRIRAM Housing Finance
SHRIRAM Housing Finance
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
PNB Housing Finance
PNB Housing Finance
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Standard Chartered Bank
Standard Chartered Bank
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
ICICI Bank
ICICI Bank
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
HDFC Bank
HDFC Bank
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Yes Bank
Yes Bank
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Kotak Mahindra Bank
Kotak Mahindra Bank
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Reliance Capital
Reliance Capital
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
LIC Housing Finance
LIC Housing Finance
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Aditya Birla Finance
Aditya Birla Finance
13% - 16% 0.5% - 2% Min 1 Lac 1 - 5 Years Get QuoteRequired Documents
Business Loan Online OverviewOverview

Business Loan Online

Business loan helps traders, businessmen and professionals to start or expand their commercial activities. The loan can be secured against collateral in the form of property, finished goods, etc or can be availed without keeping any collateral security.

Purpose of Loan

Business Loan can be availed for all business purpose like working capital requirement, purchasing of fixed assets, capacity expansion/ modernization, technology up-gradation, Research and Development or any other short-term requirement

Loan Amount and Eligibility

The loan amount will depend on profit and years of business and cash flow

Eligibility for business loan will vary from bank to bank and will depend on various factors. Your ability to repay the loan will be verified by the bank on the basis of your line of business, profitability, financial statements, etc.

Self-employed individuals / business owners in the age group of 21 to 65 years can apply for business loan. The annual turnover of the business will vary from bank to bank, The business needs to be in continuity for the last 3 years showing positive trends in turnover and profit for the last 2 years.

Document Checklist

The document required for processing of business loans are :

  • PAN Card - For Company /Firm/ individual.
  • Proof of your identity: Copy of Aadhaar Card/Passport/Voter's ID card/Pan Card/Driving License.
  • Proof of your address: Copy of Aadhaar Card/Passport/ Voter ID-Card/Driving License.
  • Bank Statement (latest 6 months)
  • Latest ITR along with computation of income, Balance sheet and Profit & Loss a/c for the last 2 years. Financial should be CA Certified /Audited.
  • Proof of continuation (ITR/Trade license /Establishment /Sales Tax certificate)
  • Other Mandatory Documents (Sole Prop. Declaration Or Certified Copy of Partnership Deed, Certified true copy of Memorandum & Articles of Association (certified by Director) & Board resolution (Original)
WHAT YOU NEED TO APPLY?

Business information :

  • Business name
  • Business address (no P.O. Box)
  • Business phone number
  • Business fax number
  • Tax Identification number or Social Security number
  • Date your business was established
  • Ownership type
  • Number of owners
  • Annual revenue
  • Business banking account number(s) and balance(s)

Business owner information :

  • Name
  • Home address
  • Home phone number
  • Social Security number(s)
  • Citizenship
  • Annual household income
  • Personal banking account number(s) and balance(s)

Contact information :

  • Primary contact (must be an owner of the business)
  • Primary contact phone number
  • Primary contact email address
Business Loan Online FAQFAQ's

Q. What is the range of loan amount I can avail of?

Ans. An unsecured business loan from Rs.3lakhs up to Rs.50lakhs may be availed.


Q. What is the range of tenure available with these loans?

Ans. The minimum tenure available for this loan is 12 months and it can go up to 48 months.


Q. Is the rate of interest fixed or floating?

Ans. We offer fixed rate of interest.


Q. What is the mode of repayment?

Ans. You can repay through either Post Dated Cheques or Electronic Clearance Service(ECS) or Direct Debit.


Q. What do I need to do to avail a business loan?

Ans. To avail the loan, simply call 1800-120-0288. You can also e-mail us at reachus@cylsys.com or visit any of our branches.


Q. What is the eligibility criteria for a business loan?

Ans. We offer business loans to both professionals and non-professionals, who are self-employed. Among self-employed professionals, we also offer exclusive loans for doctors with special features such as competitive interest rates and quick approval.

The customer segment covered under Business Loans is listed below:

  • Sole Proprietorship
  • Partnership Firm
  • Private Limited Companies
  • Closely held Public Limited Companies
  • Societies
  • Trusts
  • Hospitals, Nursing Homes, Diagnostic Centers, Pathological Labs
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