Equipment financing refers to a loan used to purchase business-related equipment, such as a restaurant oven, vehicle or copy machine. When you take out an equipment loan, you'll need to make periodic payments that include interest and principal over a fixed term. Including machines are cranes, forklifts, excavators, bulldozers, etc. They help construct buildings, roads, and other structures, which is the primary role of a construction machine.
Funding for new / refurbished, domestic / imported machinery and equipments.
No need of additional collateral.
No capping on loan amount.
Machinery leasing option available.
Wide range of financers.
Attractive interest rates; higher loan tenures.
Customized repayment schedule.
Flexible Repayment Terms
Enhances Productivity and Quality
Minimal Documentation
Competitive Interest Rates| 1 | KYC documents of The Firm/Company and Promoters. |
|---|---|
| 2 | Recent Income Tax Returns (ITR), profit and loss statements, and balance sheets. Some lenders may require the last 6 to 12 months of bank statements. |
| 3 | A good credit score and a flawless credit history with no defaults are essential. |
| 4 | A copy of Identity proof i.e, Addhar card, Driving License, Voter ID Card. |
| 1 | Most lenders require that the business has been operational for a minimum of 2 to 3 years. |
|---|---|
| 2 | enders may specify a minimum annual turnover to assess the financial stability of your business. |
| 3 | The business should be profitable, and financial statements usually need to be audited by a certified chartered accountant. |
Copyrights @ 2024 & designed by Novami Infotechs