Whether you are new set-up or existing business, Financeseva helps you to get machinery loan at attractive rates & terms. Make your loan process hassle-free.

1. • A machinery loan is a business loan that helps administrative,
business owners and other business individuals in obtaining finance
to buy and upgrade machinery and equipment for many business
purposes.
• There are many lenders, financial bodies, or Non-Banking Financial
Institutions (NBFCs) that provide machinery loans at an affordable
rate of interest with a flexible repayment schedule.
• Whether you are new set-up or existing business, Financeseva helps
you to get machinery loan at attractive rates & terms. Make your loan
process hassle-free.
Loan for Machinery

2. Benefits of a machinery loan
• A Machinery Loan is also known as equipment financing, as it allows the
borrowers to purchase machinery or upgrade equipment.
• This loan is also used to start a new business.
• It is a collateral free loan that is provided by many banks or financial
institutions.
• Such loan assists in increasing the profit without growing the working
capital.
• It has a choice of flexible repayment schedule with easy Equated Monthly
Installment (EMIs).
• This Loan for Machinery is used for modifying, renovating, redeveloping,
and modernizing existing equipment.

3. Eligibility criteria for Machinery loan
Eligibility criteria depend on various factors i.e., business or sales turnover,
age of the borrower, creditworthiness, repayment history, and total work
experience etc.
For self-employed individuals:
The Age limit of a self-employed individual are ranges between 24 years to
65 years of age.
• Both Public and Private companies are eligible for machinery loans.
• The Balance sheet of a company should be audited by a registered CA.
• Income tax (ITR) must be filed for a minimum of previous 1 year.
• The Business record should be in profit for the last 3 years.