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Overview

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

  • 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

FAQ'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

User Reviews

Deepak Gupta , Rajasthan

Best loan provider

I used MyFundBucket eligibility calculator to check the amount of business loan I can apply for, surprisingly it taken me to the page where it shown me list of bank offers based on my entered information. It made my work easier to choose the perfect bank and applies for business loan with budget interest rate. Thank you myfundbucket.com for helping me to get business loan within 10 days

Asif Sheikh , Mumbai

Fully Satisfied

I was looking for Business loan and saw myfundbuket.com banner in train. I checked their business loan section and was very happy to see low interest rate. I got maximum support from MyFundBucket and I am very happy with that. Through them got an HDFC business loan. They provided me with a host of offers. My experience with MyFundBucket has been very good till now. No complains, fully satisfied.

Mahesh Murthy , Tamil Nadu

Good Experience

It’s was my first time with myfundbucket.com. I would like to say their service is quick & smooth too, I am really happy with them till now. Applying for business loan at myfundbucket.com online portal is really easy to access.

Sukhdev Singh , Amritsar

Best place for Business Loan

MyFundBucket helped me during the entire loan process. My friend suggest me myfundbucket.com website to get loan and credit card. Their customer care give lot of help during the application process and give all details on how to apply and documentation till the time I received business loan. They taken very less time for completing the entire business loan procedure must say that I got it without any hassles. They were quick in disbursal of my loan amount with very minimal document required. There was minor issue with my documents but thankfully it did not affect my application. Thank you Myfundbucket and team.

Anil Rajkumar , Delhi

Best for fast business loan

MyFundBucket agent offered me low rate of interest on the business loan amount which was great deal so I grabbed it immediately. Though many banks were ready to give business loan at different rates but nothing could compete with the option given by myfundbuck.com. I can just say that MyFundBucket is the best for fast business loan.