Get a Construction Equipment Loan
Accelerate your business growth with a Construction Equipment Loan from Poonawalla Fincorp. Whether you are a contractor, infrastructure developer, mining operator, fleet owner, or equipment rental company, our construction equipment finance helps you acquire new and used construction equipment with quick approvals and minimal documentation. Apply now!
Why Choose Poonawalla Fincorp
To qualify for Construction Equipment finance, applicants should meet the following basic criteria:
- Age: Minimum 18 years and maximum 65 years at loan maturity
- Citizenship: Indian
- Employment Status Self-employed individuals and business entities
- Eligible Customer Profiles: Individuals, Proprietorship, OPC, Partnership firms, LLP, Public and Private Companies, HUF.
Note: Eligibility may vary depending on customer profile, credit assessment, business vintage, repayment capacity, and internal policies.
Submit the following required documents to successfully apply for a Construction Machinery Loan:
- Photo Identity and Address Proof: As per RBI-defined KYC guidelines.
- Experience Proof: Driving license, registration copy of Construction Equipment owned, or current account statement
- Income Proof: Six months’ bank statement and ITR or audited financials for the last two years.
- Fleet List: List of construction equipment owned, along with supporting documents, wherever applicable.
- Repayment Track Previous repayment history, wherever applicable.
- Work Orders Awarded, Mining Lease Documents
Note: The above-mentioned document list is indicative. Additional documentation may be required during loan processing.
Check the interest rate and other charges associated with a Construction Equipment Loan.
Foreclosure charges post 06 months from the date of disbursement - 4% of Principal outstanding + applicable taxes
Foreclosure charges post 06 months from the date of disbursement - 4% of Principal outstanding + applicable taxes
Default Charges: Penalty will be charged for nonpayment of EMI amount and for non-compliance of material terms and conditions, as more particularly specified at Default Charges.pdf
*T&C Apply
Our tailored equipment loan for contractors and businesses covers:
- Infrastructure Contractors
- Mining Contractors
- Equipment Fleet Owners
- Equipment Hirers
- Equipment Rental Companies
- First-time equipment buyers
- Construction Equipment: Excavators, Backhoe / Wheel Loaders, Bulldozers, Pavers, Motor Graders, Rollers, Compactors, Cranes, Concrete Pumps, Transit Mixers, Batching Plants
- Manufacturers Covered: JCB, Caterpillar (CAT), Komatsu, Tata Hitachi, HD Hyundai, Volvo, CASE, Kobelco, SANY, LiuGong, Schwing Stetter, AJAX
Get Funds Quickly With
Minimal Documentation
Happy Customers, Happy Us
Loan Against Property
I opted for a Loan Against Property balance transfer with Poonawalla Fincorp, and the experience exceeded my expectations. The application process was completely digital, quick, and required minimal paperwork. Getting a significantly lower interest rate helped me reinvest in my business. With better financial flexibility, I was able to scale operations efficiently, leading to a 30% increase in business turnover. Poonawalla Fincorp made the entire journey stress-free, and I highly recommend their services to any business owner looking for smart financial solutions.
Pre-owned Car Loan
Poonawalla Fincorp’s Pre-owned Car Loan made the entire financing process effortless. The loan approval was quick, and the minimal documentation made it even more convenient. Within just a couple of days, the funds were disbursed, allowing me to purchase a well-maintained pre-owned vehicle without any hassle. The repayment options were flexible, and the entire experience was seamless. Thanks to Poonawalla Fincorp, I could get my car without any financial strain. Highly recommended!
Loan Against Property
Securing a loan to purchase a commercial property with rental income was crucial for my business. Having previously worked with Poonawalla Fincorp, I was confident in their services. The process was incredibly smooth and transparent. The quick disbursement and excellent post-sales support made the entire experience stress-free. Thanks to Poonawalla Fincorp, I now own a prime commercial property in Mumbai, which has significantly boosted my business. Their quick turnaround time and excellent post-sales support made all the difference. I wholeheartedly recommend them to anyone in need.
Pre-owned Car Loan
I had a great experience with Poonawalla Fincorp’s Pre-owned Car Loan. The offered loan amount was as per my expectations, and the entire process was smooth and hassle-free. The documentation was minimal, and the loan was disbursed in just two days! What stood out was the flexibility—repayment was easy, and the EMI structure was well-planned. The loan approval process was straightforward, making it convenient to get the car I wanted without any delays. Overall, the service was excellent, and I highly recommend Poonawalla Fincorp to anyone looking for an easy and quick loan process!
Professional Loan
A friend in need, is a friend indeed. Poonawalla fincorp has been like one of those friends for me, who has supported me in my journey. With no hidden charges and no prepayment charges, the company has provided me with the adequate funds I needed for me professional practice. From the loan application process to the disbursal of funds, I did not face any problems. My experience was hassle-free and smooth. Not just me, all my fellow professionals and friends have had a wonderful experience with Poonawalla Fincorp’s Professional Loan.
Professional Loan
I am practicing Chartered Accountant (CA) based out of Hubli. There were working capital issues that i was facing like upgrading my firm’s overall infrastructure, hiring well-qualified staff and digitization. Poonawalla fincorp hab been of great support when it comes to funding these requirements. I’ve got one of the best interest rates available in the market, my documentation process was fast & hassle-free. and the digital application process made it very simple to get a Professional Loan as a CA. I recommend to CAs to consider Poonawalla Fincorp for their working capital or any other funding requirements.
Business Loan
I run a chain of farmacy stores with 5 branches in pune. With the growing polpularity of home delivery, my customers were expecting the same from me as well. However, the extra capital requirement made it difficulf for me to hire delivery persons. With Poonawalla fincorp’s Business loan, I am now able to compete with online pharmacy retailers, manage working capital and upgrade my system. My customers have grown 50-60%. The loan applicatipn process is digital, simple and speedy. I was delighted to get my loan amount disbursed quickly, allowing me to upgrade my operationg seamlessly.
Commercial Vehicle Loan
I bought a new commercial vehicle with Poonawalla Fincorp Commercial Vehicle. It was a great experience, the entire process was very easy, quick and hassle-free. The team was not only helpful but explained with complete transparency about this loan. I want to thank everyone for their help and support.
Frequently Asked Questions
Generally, no separate external collateral is required. The construction equipment or heavy machinery being financed serves as the primary hypothecated asset against the loan.
You can get a loan amount of up to ₹5 Crore. The interest rates start from 10% p.a. for new construction equipment and 11% p.a. for used construction equipment
Once your loan application and documents are verified and approved, the sanctioned loan amount is disbursed directly to the equipment dealer or OEM vendor (For New Construction Equipment) to facilitate the machine handover.
You can finance almost any new or used construction equipment, including excavators, backhoes, bulldozers, cranes, skid steers, wheel loaders, dump trucks, concrete pumps, and Road Construction machinery.
Financing covers top manufacturers including JCB, Caterpillar (CAT), Komatsu, Tata Hitachi, HD Hyundai, Volvo, CASE, Kobelco, SANY, LiuGong, Schwing Stetter, and AJAX.