Machinery Loan

Machinery Loan

What is Machinery Loan?

Loan taken for the purpose of financing the new equipment for your Business. It helps improving Business Productivity.

Rate of Interest

Rate of Interest in case of manufacturing sector is at present range between 12% to 15% and for Medical Equipment it varies from 10.5% to 15%.

Machinery Loan Eligibility

In order to get a Machinery loan, you need to fulfill certain minimum eligibility conditions. The following factors are considered while determining your eligibility for a Machinery loan:

  • Your total annual Income
  • Your Existing Liabilities
  • Machinery Value/Invoice
  • Total Work Experience
  • Minimum Age should be 21 years

When it comes to Cricket, practice makes perfect. But when it comes to getting a Loan, you might need a little help.