Fynamics

Plant And Machinery Loan

Plant and Machinery Loan In Ahmedabad

Be it a new enterprise, one that is in its initial stages, or one that is growing at a steady rate, top-of-the-line machinery and equipment are the key to consistent productivity and better sales. Not only do they help in reducing the need for manpower but they also help in meeting peak season demand, ensuring greater sales and profits. Businesses whose working capital is insufficient for equipment financing can opt for a machinery Loan.

If your working capital is insufficient to fund your machinery purchase or lease, you can opt for a convenient business loan customized for machinery. This loan is available at nominal interest rate and doesn’t require any collateral.

Features of Plant & Machine Loans

Maximum Loan : Amount Up to 75% of equipment value or Rs. 3Cr (whichever is lower)

Loan Term : 5 years

Interest Rate:  Flexible and based on customer profile

Speed of Getting a Loan: Within 7 working days

No Collateral Required: No need of additional collateral

Benefits of Machine Loan

  • It helps to buy new equipment/machinery and is also term as equipment financing
  • Used to refurbish, modify or change existing machinery/equipment
  • To repair faulty machines or equipment or to upgrade
  • To buy machinery loan for new business
  • Flexible loan repayment options with easy EMIs
  • Used as working capital loan or equipment finance
  • Machinery loan for startup is an additional benefit for new businesses
  • Collateral free loan from selected NBFCs, Small Finance banks, etc.
What is the Eligibility for Machinery Loan?

To get a machinery loan with Tata Capital, you must meet the following eligibility criteria –

You must be within 25 to 65 years of age 

Your business turnover must show an upward trend

Your business must have been profitable for three consecutive financial years.

What are the Documents Required for Machinery Loan?

The following documentation in addition to the duly filled loan application is required for the approval of a machinery loan with Fynamics –

  • Photo Identity Proof – copy of Voter ID/Passport/Driving License/Aadhaar Card
  • A copy of certified bank statements of the last six months
  • Business Proof documents – Trade License/Sales Tax Certificate/Sole Proprietorship Declaration/ Partnership Deed/Income Tax Returns along with computation for the last two years/Profit and Loss Statement and Balance Sheet for the last two years
  • Additionally, you will also be required to prepare and submit a report detailing how you plan on using the business loan. To know more about the list of documents required to apply for a machinery loan with us.

Reach closer to your goals

From your ideal home to the finances you need to set up your own business, we will provide you with loans that are hassle-free, customisable and tailored to your needs.

FAQs

From Home Loans to Small business loans, we provide assistance to all the business and working professionals to get finance. Have a query lets us resolve it…

Is it really possible to get machinery loan without collateral security?

Yes, you can avail machinery loan without collateral security from various NBFCs, Small Finance Banks (SFBs) and Micro Finance Institutions (MFIs).

Is there any subsidy on machinery loan?

There are a few Government initiated schemes that offer subsidies on machinery loans that include the Credit Linked Capital Subsidy Scheme (CLCSS) for Technology Upgradation and Small Industries Development Bank of India (SIDBI).

Not answered above?

If still you are not satisfied and have a lot of questions/Queries in mind. Don’t panic, we are here for you just contact us and we will resolve all your loans regarding questions.

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