Find out answers for your general queries regarding machinery loan
A Machinery Loan is a financial instrument used to finance the procurement of machinery and equipment for businesses involved in production and retail. The loan can be used for buying new machinery or upgrading existing machinery without impacting the working capital.
You can apply for a Machinery Loan by following these three simple steps:
- Step 1: Click on ‘Apply Now’ button.
- Step 2: Fill in the required details on the loan application form.
- Step 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
With our easy and quick Machinery Loan EMI calculator, all you need to input is:
a. The amount you wish to avail
b. Tenure in which you would repay the loan.
c. Interest Rate is the percentage charged for the availed loan, based on your eligibility.
At Poonawalla Fincorp, we require minimal documentation to process your Machinery Loan application. While applying for the loan, you must keep the following documents handy:
- KYC Documents: Company PAN Card, Director/Proprietor/ Partner PAN Card, Aadhaar Card, Passport. Proprietor/Partner/Director PAN Card, Aadhaar Card, Electricity Bill/Rent Agreement/Passport.
- Personal Documents: All Individual/Partner/Director - PAN & Officially Valid Documents + Proof of Address (If not as per Officially Valid Documents)
- Business Documents: Business Registration Proof + Business Address Proof (if not as per Business Registration Proof)
You can get a loan for a CNC Machine with Poonawalla Fincorp. Using CNC Machine loan, you can get CNC equipment, including lathes, milling machines, routers, and more. To get a CNC Machine Loan, you need to follow the three below steps:
- Steps 1: Click on the ‘Apply Now’ button.
- Steps 2: Fill in the required details on the loan application form.
- Steps 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
If your business is involved in the printing and advertising industry, including startups, SMEs, and established enterprises. In that case, you can get a loan for the Printing and Packaging industry by following the below three steps:
- Steps 1: Click on the ‘Apply Now’ button.
- Steps 2: Fill in the required details on the loan application form.
- Steps 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
You can get finance for heavy equipment with Poonawalla Fincorp by following the simple steps below:
- Steps 1: Click on the ‘Apply Now’ button.
- Steps 2: Fill in the required details on the loan application form.
- Steps 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
With Poonawalla Fincorp, you can get a loan for a wide range of equipment for the plant and manufacturing industry, including construction machinery, agricultural machinery, industrial equipment, and more. You can get loan for plant and manufacturing industry by following the below steps:
- Steps 1: Click on the ‘Apply Now’ button.
- Steps 2: Fill in the required details on the loan application form.
- Steps 3: Upload necessary documents.
On successful verification, the loan amount will be disbursed into your bank account instantly.
Poonawalla Fincorp’s Machinery Loan offers unique features and benefits befitting the needs of the customer. Listed below are some of the benefits:
- Higher loan amounts of up to 5 Crore
- Competitive interest rates
- Longer repayment tenure of up to 60 months
- LTV up to 80%
- No hidden charges ensuring complete transparency
- Minimal documentation for a hassle-free process
With Poonawalla Fincorp you can avail of a Machinery Loan of up to 5 Crore.
You can avail of our Machinery Loan offering with interest rates starting from 9.99%*p.a.
There is a minimum processing fee that is applicable to your loan application. This fee is up to 2%* of the sanctioned loan amount.
To avail our Machinery Loan, you only need to meet the basic eligibility criteria:
a. The key person should be minimum 25 years of age at time of loan application and maximum 65 years at loan maturity.
b. The required business vintage is 3 years.
To check your Machinery Loan eligibility, kindly refer our Eligibility and Documents section.
A good credit score impacts your loan amount eligibility and the rate of interest to be charged. Your creditworthiness is also important as it demonstrates how reliable the borrower is.
*T&C Apply
