Machinery Loan
Machinery Loans provide funding to purchase, upgrade, or lease machinery required for production, ensuring business scalability and efficiency.
Types Of Machinery Loan
Machinery Loans can be categorized into multiple types based on usage and repayment structure.
New Machinery Purchase Loan
Financing for brand-new machines.
Used Machinery Loan
For pre-owned machinery purchases.
Leasing Finance
Equipment leased instead of purchased outright.
Equipment Upgrade Loan
For modernizing old machinery.
SME Machinery Loan
Tailored loans for small and medium industries.
Term Loan for Industrial Plants
Long-term financing for heavy equipment.
Why Machinery Loan Is Important?
Productivity Boost
Enables modernization and improved efficiency.
Flexible Tenure
Choose repayment periods as per business needs.
Tax Benefits
Interest and depreciation often qualify for deductions.
Collateral Options
Both secured and unsecured plans available.
FAQs
What is a machinery loan?
It finances the purchase or upgrade of industrial machinery.
Who can apply?
Manufacturing, construction, and service units.
Is collateral needed?
Not always; depends on loan size.
Can I buy used machinery?
Yes, via specialized used-equipment loans.
Are tax benefits available?
Yes, for interest and depreciation claims.
What’s the repayment tenure?
Typically ranges from 1 to 7 years.