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Get Machinery Loan With Security in India
Machinery Loan is a credit tool that bridges the gap between your business and the machines that you need. It is a type of equipment financing that you can opt for it with security. With this loan, you get to buy the latest machinery and achieve your business goals without any financial stress.
Here is everything you need to know to get Equipment Finance in India for your business.
Helps Preserve Your Working Capital
You can avail of Machinery Loan in India from reputed lenders like Poonawalla Fincorp, with a loan amount of up to ?5 Crore. With this loan, you won’t have to drain your working capital to buy the required equipment. This becomes helpful when a profitable opportunity or an unexpected problem arises as you will have enough working capital to manage accordingly.
Requires Minimal Documentation
Online Machinery Loans typically require minimal documentation and an easy application process. This means you can get access to funds within a short time and purchase or upgrade your machinery as per the latest standards.
Comes with a Flexible Loan Tenure
Machinery Loans usually come with a high loan amount, which you are required to repay on time. Luckily, with a flexible tenure of up to 60 months, you can choose the tenure as per your repayment capabilities. Always consider how each of these options could affect your budget before making a decision.
Increases Your Productivity
Buying a new machine with advanced features can boost your business’s overall growth. It can maximise your productivity and enhance the quality of the overall output while maintaining efficiency.
Upgrades Existing Machinery
Fixing some of your existing machines or replacing their parts can be a costly affair. Instead, you can manage such expenses with a Machinery Loan.\
You can easily apply for Machinery Loan for your business. Simply follow the steps below:
Getting a Machinery Loan in India for your business is not easy but completely stress-free thanks to a simple and quick application process. Once you have decided on the lender, getting your loan approved is straightforward. Just follow the above-mentioned steps and you should have an approved Machinery Loan without delay.
1. What is the interest rate on Machinery Loans?
Leading financial institutions like Poonawalla Fincorp offer Machinery Loan at competitive interest rates starting from 9.99% per annum.
2. What is the tenure for a Machinery Loan?
You can find lenders that provide Machinery Loans with a tenure that ranges from 12 months to 60 months. Keep in mind that it can vary from lender to lender.
3. What is the significance of machinery in business operations?
Having advanced and capable machinery can positively impact your business operations. It boosts the quality, quantity, and speed of production, which can support business growth efficiently.
We take utmost care to provide information based on internal data and reliable sources. However, this article and associated web pages provide generic information for reference purposes only. Readers must make an informed decision by reviewing the products offered and the terms and conditions. Machinery Loan disbursal is at the sole discretion of Poonawalla Fincorp.
*Terms and Conditions apply
Our team of expert writers and editors are passionate about providing authentic and valuable information on finance. Our aim is to simplify financial and finance-related concepts. We strive to help our readers become more aware and empowered to make informed financial decisions.
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