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Modernize Your Business with Our Machinery Loans

Boost Your Business with Hassle-Free Machinery Loans.

Overview

A machinery loan is a type of specialist finance that is designed to satisfy the capital expenditure requirements of companies in a variety of industries. It gives companies the money they need to buy new or used gear and equipment, which helps them increase production capacity, improve operational efficiency, and maintain their competitiveness. In contrast to standard company loans, loans for machinery are frequently secured by the asset being financed, which may result in better terms and interest rates.

Features

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Flexible Repayment Terms:

Choose a repayment tenure from 12 months to 7 years.

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Loan Options:

Both secured and unsecured loans available.

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Attractive Interest Rates:

Competitive rates, tailored to the customer’s profile.

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Fast Processing:

Quick approval and disbursal, typically within a few days, depending on the customer profile.

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Machinery Financing:

Funding available for both new and used machinery, including purchases, refurbishments, and repairs.

Benefits

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Improved Productivity:

Having access to the newest equipment increases output and efficiency.

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Business Growth:

Assists businesses in expanding their operations by upgrading their machinery.

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Preserves Working Capital:

No need to use business savings for equipment purchases.

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Tax Benefits:

Interest paid on machinery loans is tax-exempted.

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Customizable Repayment Plans:

EMI options catered to business cash flow.

Eligibility Criteria

    • Business Vintage:
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    • At least two to three years of operational experience (new firm can also fund).
    • Business Type:
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    • Manufacturers, traders, service providers, or construction companies.
    • Requirement for Turnover:
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    • Annual turnover in accordance with lender policy (usually ₹10 lakh and above).
    • Collateral:
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    • Needed for secured loans; unsecured loans rely on business financials;
    • Profitability:
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    • The company must have demonstrated steady profits for the last two years;
    • Credit Score:
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    • At least 730+ (for unsecured loans); higher scores translate into better interest rates.

Documents Required

  • ID & Address proof
  • PAN Card
  • Address Proof (Electricity Bill, Rent Agreement, etc.)
  • GST Registration Certificate , Udyam Certificate
  • Business Registration Proof (Partnership Deed, Incorporation Certificate, etc.)
  • Last 2-3 years’ Income Tax Returns (ITR)
  • Bank Statements (past 6-12 months)
  • Audited Profit & Loss Statement and Balance Sheet (for loans above ₹10 lakh)
  • Loan Repayment Track Record (if applicable)
  • Quotation or Proforma Invoice of machinery

Frequently Asked Questions

Yes, you can obtain a machinery loan without collateral, also known as an unsecured machinery loan. This allows you to finance equipment purchases without pledging any assets.

Yes, a quotation or proforma invoice for the machinery you plan to purchase is usually required for a machinery loan. It helps lenders determine the loan amount and assess the asset’s value.

Yes, many financial institutions offer machinery loans for both new and second-hand machinery. The eligibility for financing used machinery depends on factors such as the type of machinery, its age, working condition, and current market value.

No, a working capital OD is not a fixed loan. It is a type of short-term financing used to cover daily operational expenses. In contrast, fixed capital loans are intended for long-term investments.

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