BUSINESS LOAN FOR MACHINERY

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Business Loan for Machinery

A business loan for machinery is a type of loan that helps manufacturers and the other business owners in acquiring the funds needed for buying more efficient and new machinery. It can further help them in meeting their business objectives. Business ventures can use equipment machinery loan as one of the essential tools for increasing their overall productivity while retaining standard operational parameters.

At FlexiLoans, we offer machinery loans without security, which means that the borrowers will not have to provide any collateral or security against the loan amount. We understand that for the small businesses, it is generally tough to arrange for the funds needed for business expansion and for meeting various other business expenditures. It is the main reason why we deal with an unsecured loan against POS and vendor financing. These financings are highly lucrative for businesses to avail more powerful machinery. This further helps them in increasing their productivity and turning higher profits from increased sales.



Main Features of Machinery Loans at FlexiLloans

We are well aware of the fact that managing and operating a manufacturing business can be very challenging. This is because the manufacturers always need to meet the increased demands for different products. Manufacturing units usually face financing deficits and are thus unable to purchase better machinery or upgrade the ones they are already using. Some of the main features of the loans available from us are:

  • Our collateral-free term loan provides complete peace of mind to the borrowers as they can avail the required funds within two to three days post-approval of their applications.
  • There are no hidden charges involved in going for our line of credit loans. The interest rate at which we provide these loans is quite competitive. The borrowers are informed about the rate of interest and processing fee even before availing the funds. Additionally, the business loan EMI calculator on our site allows them to check instalments for the repayment of the loan every month.
  • With us, borrowers get flexible options for repayment. We do not force them to make early payments while they also cannot extend the loan repayment tenure unnecessarily. Borrowers have the flexibility of selecting the conditions that perfectly suit them and their business venture.

The ones who are all-prepped up to optimize their productivity by using the best machinery can come to FlexiLoans. Connect with us, and we will give you an edge over your competitors.


Basic Eligibility Criteria

Minimum Business Vintage 1 year
Monthly Business Sales Minimum 2,00,000

Documents Required for Business Loan for Machinery

Personal KYC PAN card
Residential Address Proof (Any One) Rent Agreement | Driving License | Voter's ID | Ration Card | Passport | Aadhar Card
Banking Last 6 months current account bank statements
Business KYC (Any One) GST Registration Certificate | Shops & Establishment Certificate | Business PAN Card

Frequently asked questions

What are the purposes for which I can get a loan via FlexiLoans?

FlexiLoans is here to provide you financial access for your business funding needs. You have to undergo simple and transparent Credit Evaluation, basic documentation before we disburse the loan. You may get loans via FlexiLoans for:
  • Expanding your business
  • Servicing regular working capital needs
  • Managing seasonal working capital requirements
  • Manage short term cash flow gaps

Why should I avail loan via FlexiLoans?

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

What documents are required to apply for a loan?

KYC document

  • - Pan card

Proof of residential address (any one)

  • - Rent Agreement
  • - Driving License
  • - Voter's ID
  • - Ration Card
  • - Passport

Banking

  • - Last 6 months of bank statement of current account

Business KYC (any one)

  • - GST Registration Certificate
  • - Shop Establishment Certificate

Financial documents (For loans greater than 20 Lakhs)

  • - 2 years Audited financials
  • - Last 2yrs ITR
  • - GST Returns of 6 months

Are there any charges other than interest rate that I have to pay to avail the loan?

We may charge processing fee to facilitate the loan towards legal and documentation charges. You may be charged penal charges for late or irregular payment behavior.

The maximum amount of loan that I can take for Machinery?

You can get an unsecured business loan up to ₹1 crore.

Is there any collateral for the Machinery loan?

FlexiLoans provides only collateral free business loans. So, you do not need collateral for applying for a business loan.

Quick credit assessment ensures fast disbursal of loan at best rates and flexible terms, thus providing financial access at a click! Our business is to help you grow your business.

We may charge processing fee to facilitate the loan towards legal and documentation charges.

Interest rates start at as low as 1% per month. However, it may depend on various factors like your loan amount, tenure, eligibility, etc.