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✓Minimal Documentation ✓Flexible Repayment ✓Collateral Free Loan | Apply for Business Loan Now!

Features of Machinery Loan

A equipment machinery loan carries innumerable advantages that include:

  • Offers Better Productivity: A machinery loan allows you to adapt to better technologies available in the market. The business can generate better results quickly. This helps the business evolve and generate higher profit.

  • Better Product Quality: When a business purchases high-end machinery, the manufactured product is of better quality. This is an excellent way of strengthening the trust of your customers in your business venture.

  • Higher Profits: Improving the productivity of a business unit will eventually ensure improved sales. The increase in productivity eventually gathers higher profit value as it reduces the cost of production per unit.

Benefits of Machinery Loan

A machinery loan, also known as an equipment loan, comes with a host of benefits that include:

  • Aids in buying new equipment or machinery

  • The funding can be used to refurbish, modify, or replace existing machinery

  • Allows flexible loan repayment options and easy EMIs

  • A machinery loan is an excellent opportunity for start-up businesses as it offers an incredible funding opportunity

Eligibility Criteria for Machinery Loan

The eligibility criteria for a machinery loan are simple:

  • An established MSME that has a business vintage of at least two years

  • The business should have an annual turnover of ₹ 10 Lakhs

  • There must be no default history associated with the business

  • Systematically filed income tax reports

  • The borrower should own a business or residential property

How to Apply for a Machinery Loan

Follow the simple given steps to apply for a machinery loan:

Step 1: Visit the official Finserv MARKETS website.

Step 2: Enter all the information pertaining to your business and financial information.

Step 5: The lender will verify your machinery finance loan application.

If the loan is approved, the funds will be disbursed into your account without any delay.

Documents Required for a Machinery Loan

  • Identity proof: PAN, Aadhaar, passport, driving license, etc.

  • Address proof: Passport, voter’s ID, driving license, utility bills, etc.

  • Passport-size photographs

  • Business Continuity Proof: ITR, Trade licence, Establishment, Sales Tax Certificate (any one)

  • Income proof

  • Existing facility sanction letter

  • Original quotation of machinery you want to purchase with the loan

By getting a collateral-free business loan through Finserv MARKETS, you can get the funds needed to purchase machinery for your new business. You can get small business loans at attractive interest rates for undertaking various business operations such as expanding your business, acquisitions, or getting new machinery or equipment, etc.

Happy Customers of Finserv MARKETS

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