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Equipment / Machine Loan

Equipment / Machine Loan

Equipment / Machine Loan provides loans to manufacturer ,doctors etc .it is given to customers who are in need for purchase of equipments. Customer can avail equipment loan to start up a new unit .Equipment / Machine Loan provides you to meet the new requirements you face in your trade .Equipment / Machine Loan can help the customer to overcome the new challenges or orders he faces. Equipments Finance helps you to upgrade the technology and increase the profitability of your organization. With the help of Equipment / Machine Loan you can avail the latest equipments and meet your requirements.

  • Our expertise to get u the right Banks / Institute to fulfill your requirement.
  • Loan Up to Rs. 25 cr
  • Loan repayment in flexible tenures from 1 year up to 5 years
  • Faster sanction & disbursement of loans
  • Attractive Rate of Interest.
  • Loan transfer from other banks + Top up
  • Loans for purchase of New Construction Equipment
  • Loans for Used Equipment
  • Minimum/Hassle free Documentation.
  • Convenience of doorstep service.

There are several steps in Equipment finance process. Here are the steps in brief:

  • Application form & Document submission
  • Cibil report check
  • Residence verfication
  • Office
  • Eligibility calculation
  • Personal Discussion
  • Credit decision
  • Offer Letter
  • Signing of agreements and submitting post-dated cheques
  • Disbursement

SELF EMPLOYED INDIVIDUAL

  • An Indian Resident
  • You should be in business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • You should have residence or office owned

SELF EMPLOYED PROFESSIONAL

  • An Indian Resident
  • You should be in business for a minimum of 3 years.
  • You should be self employed Minimum 24 to maximum 65 years of age.
  • You should have residence or office owned

To qualify for a Equipment / Machine Loan, most of the lending institutions in India require you to be:

Documents Self Employed Properitorship Firm Self Employed Partnership Firm Self Employed Pvt Ltd / Ltd
Application Form With Photograph Duly Signed Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Clear Pancard Copy, (Applicant & Co-Applicant) Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Latest Residence proof (Applicant & Co-Applicant) Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Latest Office Proof (Applicant & Co-Applicant) Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Last 12 Months Bank Statements Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Income Tax Returns Of Last 3 Yrs Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Last 3 Years CA Certified / Audited Balance Sheet And Profit & Loss Account Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
All Loan Sanction Letter If Any Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Business Profile Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Proof Of Business Existence ( Gumasta License , Sales Tax Certificate , Form 26AS , ) Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
MOA /AOA Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Partnership Deed Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Company Pancard Clear Copy Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Shareholding Pattern On Letterhead Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
Invoice copies of equipments to be purchased Equipment / Machine Loan Equipment / Machine Loan Equipment / Machine Loan
How much loan can I avail of? How is the quantum decided?
The loan quantum is decided based on your requirement, credit assessment and repayment capacity.
However, it is limited to Rs. 25 crore.
Who are eligible for a Equipment / Machine Loan?

The general factors taken into account while determining the eligibility of loan against property are listed below:

1. Age (Min. 21 Year )

2. Maximum 58 age at time of closure of the loan for the salaried

3. Maximum 65 age at time of closure of the loan for the self employed

4. Total work / business Experience 3 yrs

5. Indian resident
Who can Avail a Equipment / Machine Loan?

Manufacturers ,Printers & Doctors who are

• Self Employed Individuals

• Partnership Firms

• Private Limited Companies

What are the process in availing a Equipment / Machine Loan?

1. Application

2. Processing

3. Documentation

4. Equipment Valuation

5. Personal discussion

6. Sanctioning of the Loan

6. Disbursement

The Process may vary from bank to bank in which they will do your verification of documents, residence, office, and a cibil check

What are the loan tenure options for Equipment / Machine Loan?

You can repay your loan over a period of 12 to 60 months

What are the documents required for applying for a Equipment / Machine Loan?

For Self-Employed:

1. Application form with photograph

2. Identity and Address Proof

3. Proof of business existence & Education Qualifications.

4. Last 3 years ITR

5. Last 3 years P&L and Balance Sheet

6. Bank Statements (Last 12months)

7. Processing fee cheque

8.Invoice copies of the eqipment

Please refer the complete list of documents on our website in the document section of Equipment / Machine Loan

What can be accepted as security?
The equipments itself acts as a security
How long will it take to get the loan?

The loan will be processed within 10 working days provided everything is in order.

How do I repay my loan?

You have the flexibility of opting for Equated Instalment, (depending on the requirements of your business). PDCs, ECS mandate and Electronic Transfers are all accepted means of payment.

Can I prepay the loan?

Yes, you can prepay the loan. Foreclosure charges at 2% shall be applicable on the principal outstanding.

How much time does it take for the disbursement of the loan?

The processing of the loans usually takes approx 15 working days after all the documents are submitted.

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