Secure a Machinery Loan for New Business With Expert Guidance
Get New Machinery Or Upgrade Your Existing Ones With Quick And Timely Credit Disbursal With Our Help At SDS Fin Advisory LLP
Consult Us Now
Specializing In Machinery Loans: Expert Financial Consultation
Machinery loans are special loans for machinery given to micro, small, and medium-scale enterprises to bridge the financial gap and help them purchase the latest and advanced plant & machinery. Businesses can apply for these loans to expand their manufacturing units or upgrade the existing machinery infrastructure for faster production and higher process efficiency. While machinery loans can significantly help capital investment, loan application, interest calculation, subsidy claim filing, and loan disbursement are quite complex and involve multiple tiers.
That’s why we at SDS Fin Advisory LLP extend our help to MSME businesses, providing them with tailored and effective financial solutions. Our team of expert CA and MBA professionals is familiar with the complications of a machinery loan application, especially with documentation and acquiring approval from the credit bureaus. That’s why they work diligently to ensure that loan applications can get approved at the earliest without any further risk of rejection.
Our mission is to get the machinery loan for new businesses approved from banks at the lowest possible interest rates. Additionally, we also ensure to provide loan solutions where our clients will have to pay a bare minimum or no security against the applied principal amount. With SDS Fin Advisory LLP., MSME businesses can rest assured that the loan will get disbursed on time and all the related government subsidies can be availed.
Key Benefits of Choosing a Machinery Business Loans
1. Very Low Interest Rates
Usually, a machinery loan comes with an extremely low interest rate than any other business loan. It can further reduce the financial burden on MSME businesses, allowing them to pay off the principal and the interest without much difficulty. Although the interest rate varies with the bank, the average rate stipulated is between 9% and 10% per annum.
2. Minimum or No Security Needed
One of the key benefits of a machinery loan for a new business is that it doesn’t need the borrower to place anything as a security against the loan application. In other words, you won’t have to worry about mortgaging something or putting your assets as security against the principal amount filed for the loan.
3. Government Subsidy Benefits
Also, MSME businesses can avail of different government subsidy benefits against their machinery loans without any hassle. For example, they can apply for an interest subsidy where the government will pay an incentive to reduce the financial burden of paying the interest against the machinery loan for 5 to 7 consecutive years.
4. Quick Approval or Disbursements
With us by your side, you won’t have to worry about the disbursement process of the machinery loan. We will ensure the loan gets approved quickly through proper documentation and appropriate financial consultation. Additionally, we will extend our end-to-end support till the loan amount finally gets disbursed to your bank account.
5. Higher Repayment Period
Usually, most machinery loans in India have a higher repayment period, with a maximum tenure of 60 months or 5 years. The period can be further extended based on certain specific but valid grounds, ensuring businesses won’t have to bear any additional charge or penalty.
Explore What Our Customers Have To Say
I wanted to open two new micro-manufacturing units with the latest machinery. However, the required capital for purchasing all the equipment units was more than Rs 50 lakhs. SDS Fin Advisory LLP. helped me to get a machinery loan which helped me a lot in setting up my new business units. Neither did I have to worry about the documentation nor did I need to place anything in the mortgage as a security.
Thanks to SDS Fin Advisory LLP. and its expert team members, I have been able to avail of a machinery loan for new business with a comparatively lower interest rate with capital & Interest Subsidy benefits. They helped me to arrange all the necessary documents so that the loan amount could be disbursed at the earliest.
Consult with Machinery Loan Experts!
Talk to our consultants today for a
hassle-free loan experience.
Frequently Asked Questions
1. What is the interest rate for a machinery loan?
The average interest rate for a machinery loan is between 8.50% per annum and 10% per annum depending on case to case.
2. How long will it take for the machinery loan to get approved?
Depending on the applied loan amount, it will take somewhere around a week to 1 month for the application to get approved.
3. How much can I get as a machinery loan?
The maximum loan amount you will be eligible for will depend on the total machinery cost that you have to bear as an upfront capital investment. It will be from 75% to 100% of machinery cost.
4. What do I need to apply for a machinery loan?
When you want to apply for a machinery loan for new business, the major documents necessary are ITR, KYC papers, and audit reports.
5. Can I avail of a machinery loan for second-hand machinery?
Although you will be eligible to apply for a machinery loan to purchase second-hand machinery, you won’t be eligible to acquire subsidy benefits in the case of indigenous machinery.