mybankmantra.com

About Business Loan

A business loan is a kind of financing you can avail to meet the urgent needs of your growing business.

If you need funding to expand your existing business, buy machinery, or boost production, our business loans come with a host of benefits and are tailormade to meet your unique business needs.

Use the funds to invest in infrastructure, expand operations, upgrade to the latest plant and machinery, maintain inventory, or to even increase working capital.


Our online business loan application process is one of the fastest, simplest ways for you to get the funds you need to get on track towards financial freedom.

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Business Loans Usage

To Purchase Equipment

Purchasing equipment that can improve your business offering is typically a no brainer for financing. You need certain machinery, IT equipment or other tools to make your product or perform your service, and you need a loan to finance that equipment.

To Purchase Real Estate and Expand Operations

If you’ve outgrown your initial office location. Or maybe you run a restaurant or retail store, and you have more customers in and out than you can fit inside your space.It likely means business is booming, and you’re ready to expand. But just because your business is ready for expansion, doesn’t mean you have the cash on hand to make it happen. In these cases, you may need a term loan to finance your big move.

To Purchase Inventory

Banks make loans to small businesses to purchase inventory. Some small businesses are seasonal in nature, particularly retail businesses. If a business makes most of its sales during the holiday season, and you want to purchase most of their inventory prior to the holiday season then you can go for business loan.

Your business needs fresh talent.

When working at a startup or small business, you wear a lot of hats. When you choose to invest your money in your talent, believing that this is one way to keep your business competitive and innovative. This can be a great move, if there’s a clear connection between the hiring decision and an increase in revenue. But if having an extra set of hands around helps you focus on the big picture, that alone may be worth the loan cost.

Get financing for whatever you need now

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Features of Business Loan

Features and Benefits:

  • Accessible and Convenient :

    Accessible is the best feature of banks, it is very essential factor as well as there will be a need for regular conversations, depositing savings or any withdrawals. After being customer for a specific bank for years, the customer gains trust on the bank and simultaneously a good track record will help bank to be lenient with its customers too. This familiarization helps in having personalized services.
  • Multiple Loan Options :

    All banks promote various types of programs and schemes to encourage businesspersons set ups to make use of these. The actual earnings for all bank is from the rate of interest charges on loans. Few options offered are standard business loans, term loans and others as per the need.
  • Hassle-free unsecured loans:

    These unsecured business loans are approved in under 24 hours, come with easy eligibility criteria and can be applied for with just 2 documents. These exclusive features make mybankmantra.com the best, fastest and most-hassle-free business loan provider to meet urgent financial needs of your growing business.
  • Lower Rates of Interest :

    Rate of interest in banks is low as compared to those of the lending agencies and few finance instruments such credit cards, etc.
  • Business Loans Offer Tax Benefits :

    Businesses taking bank loan can enjoy tax benefits, since the ratio of profits is used to pay the loan amount; it is exempted from tax calculations.

Business Loan - Eligibility

Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for a business loan.

Age

Maximum age of applicant at loan maturity: 60 years

Income

Minimum Net Yearly Income: Rs 2,00000

Credit Rating

Applicant should have the bank specified credit score.

Frequently Ask Questions

We have published some of the FAQ's for general guidance, information and assistance of users.In case your unable to get your answers please write to us at info@mybankmantra.com.

Borrower’s PAN card, address proof, last two years financial statements including profit and loss account and balance sheet, last six months bank statements, VAT/Service tax returns, partnership deed/MOA, existing loans repayment track record, partner/director’s PAN card, KYC, own house proof, ITRs, etc. Additional documents may be required on a case to case basis.

The bank will levy certain ECS bounce charges or penalties. Additionally, that will also get reported in your credit report. Depending upon the severity and the regularity of the miss, it may have a serious impact on your future credit possibilities like in obtaining a home loan, car loan, etc. Additionally, banks may also take legal action against the borrower.

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

You can avail of a loan from Rs 50,000/- to Rs 50,00,000/- depending on your income, repayment capacity and respective location product cap.

Below is our Registered Office Address:

A-8, 1st Floor Priyadarshni Vihar
Above AU small finance Bank
Delhi - 11009
Email - info@mybankmantra.com

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