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Machinery Loan

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  • Machinery Loan

Machinery Loan

A machinery loan is a type of commercial loan used to acquire new machinery or equipment for a business. Modern business equipment and cutting-edge tools are excellent ways to grow your company, A machinery/equipment loan is a type of business loan taken to finance the purchase of new machinery or equipment for a business. It helps business processes and scales up production. Increased productivity will lead to higher output, in turn, higher sales and revenue.

Benefits

You can buy critical machinery or equipment when you need it and pay for it over a period of time

Once the loan is paid in full, you own the equipment free of any lien.

The purchased equipment has been hypothecated to the lender, so no additional security is needed.


Loan Amount

Borrow from 15 Lakhs up to 3 Crores

Repayment period

Repayment period of 12 months to 10 years

Minimum Business Loan Requirements

Pan Card

 Last three years income tax returns

Audited Financial Statement

Tax Audit Report

 Shop Act

MSME Certificate

Registered Partnership Deed (In case of Partnership)

Incorporation Certificate (In case of Company)

Last one year bank statement.

Business Address Proof i.e. Registered Rent Agreement or any ownership documents

Adhar Card of Directoer/Partner/Proprietor

Last three years income tax returns of Directoer/Partner/Proprietor

Net worth Certificate of Directoer/Partner/Proprietor