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Equipment Machinery Loan

  • 18-Jul-2022
Apply for Equipment Machinery Loan |Equipment Financing

Are you planning to invest in the newest equipment for your business but don’t have sufficient finance to manage?  

With an equipment machinery loan, one can easily obtain the equipment required to expand and grow their business. Let us have a detailed look at equipment machinery loans as well as equipment financing in the section below. 


Equipment financing or equipment loans allows businesses to get access to capital to procure new machinery or equipment or upgrade the existing machinery. It is a credit facility that helps you finance all the equipment and machinery-related needs of your business. Using an equipment machinery loan, one can buy, lease, upgrade or repair equipment quickly. 


Whether you are classified as a small to medium enterprise or a large enterprise, you can easily opt for equipment financing. However, the loan amount, applicable interest rate, loan tenure, and other aspects of the loans vary from bank to bank and business. 


When you avail of such loans, the machinery or equipment is automatically considered as an asset which means collateral against the loan. In case the borrower defaults on repayment, the lender has the authority to seize the asset and recover the unpaid losses. Hence, the risk factor for equipment finance is low as compared to other loans. The interest rate of machinery loans are lower respectively.  


Benefits of Equipment Financing 

  • Most lenders offer equipment finance up to 100% financing for new equipment purchases. However, the percentage of financing shall varies from bank to bank.
  • Equipment finance is a type of secured loan, and the equipment are considered collateral and comes at an attractive interest rate.
  • Some banks offer pre-approval to borrowers under such equipment finance to provide a hassle-free and seamless procedure.
  • Another benefit of machinery loans offers flexible repayment options depending on the business financial viability and prepayment ability.


Features and Advantages 

Equipment financing through a machinery loan offers the following attractive features and advantages – 

  • Higher Productivity – This enables you to upgrade to newer technologies using which you can procure more units in a shorter period. As a result, you will experience higher productivity or sales and keep up with market demand.


  • Better Quality – By upgrading to advanced machinery, it will help you to manufacture the products at better quality as well as build the trust your customer have in your products.


  • Quick Turnaround Time – Another advantageous feature of such machinery finance is that it will increase your manufacturing efficiency and ensure timely delivery of products. With a quick turnaround time, you will be able to meet your production targets and gain more business opportunities.


  • Higher Profits – All the above advantages will automatically improve sales, leading to a greater return on investment (ROI). Ultimately, the increase in productivity will not only reduce the cost per unit but also further enhance the overall profitability.

Also Read: Machinery loan without security in India 


Apart from this, it is important to know what type of equipment or machinery is permissible to avail through an equipment finance loan. So, here is the list of the types of machinery and equipment below: 

                                                                 Types of Machinery and Equipment's 
Compactors   Reach Stackers 
Fork Lifts  Cranes 
Crushing Plants Backhoe Loaders 
Drills Excavators 
Road Rollers RMC Plants 
Compressors Graders 
Dozers Concrete Pumps 
Tipper Transit Mixers 
Dumpers Pavers 
Hot Mix Plants Rock Breakers 
Wheel Loaders DG Sets 


With the use of a machinery loan EMI calculator, the evaluation of EMIs or monthly installments becomes easier. You can get an instant result, applicants need to fill in some basic details which shall include the desired loan amount, applicable interest rate, and loan tenure. 


Why use Machinery Loan EMI Calculator? 

Below listed are the benefits of using the machinery loan EMI calculator: 

  • Helps in managing finances better
  • The loan amount can be decided based on repayment capability
  • Also, helps in overcoming urgent short-term cash requirements
  • Easily accessible from any device be it a mobile phone, laptop, desktop or a tablet


Project Report for Bank Loan 

Project report for loan is one of the most important point that you should give equivalent value at the time of loan application. A project report for loan is a detailed document that contains information about the project for which finance is being sought. It entails the details about the financial, economic, managerial, and technical aspects of the project. 


Steps to Apply for Machinery Loan through Financeseva 

Machinery loans can be applied via online procedures 

Online Process 

Step 1: To compare, search and choose the right offer, applicants can visit Financeseva.com as a one-stop financial solution point 

Step 2: Under the “Unsecured Loans” category, select your ideal loan product and fill in and submit the loan application form online 

Step 3: Shortly, an expert from the team will contact you to explain product features and specifications 

Step 4: The department expert will conduct a basic eligibility check to know your ability to get a loan. Based on your profile and eligibility fulfillment, your application shall be taken ahead 

Step 5: Following with a loan approval, the bank shall approve the desired loan amount within 5-7 working days 

Step 6: After loan approval, the amount shall be disbursed to the bank account of the applicant mentioned. 

                                                            APPLY FOR EQUIPMENT MACHINERY LOAN

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