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Machinery Loans
Upgrade your business with InvestKraft’s machinery loan
Higher Loan Limits
Low Interest Rate
Quick Processing
Why InvestKraft?
We are India’s fastest growing fintech company with all BFSI services on one platform.
Get your Machinery Loan Eligibility in Minutes !
What is a Machinery Loan?
A Machinery Loan is a type of business loan that provides funds which you can use for buying, upgrading, or repairing equipment and machinery needed for operations. You can get the lump sum amount and pay back in easy instalments without draining your savings.
Machinery Loan EMI Calculator
Machinery loan for MSME is a great way to upgrade the business. Use our machinery loan EMI calculator to find your monthly EMIs:
Features and Advantages of Machinery Loan with InvestKraft
Machinery loan from InvestKraft can help your business grow to new heights, and these are some of the reasons why you should take your next business loan from us:
Flexible Loan Amounts
Take a machinery loan as per your requirement. No over-borrowing and no under-funding, just the right amount.
Repayment Options
At InvestKraft, we always believe that repayment should never be a burden. You can choose the repayment as per your business cash flow, thus giving you easy repayment options.
Loan Tenures
Depending on the loan amount, you can choose a short or long-term machinery loan, depending on your loan repayment capacity.
Collateral Requirements
Collateral may be required if the loan amount is very high. In many cases, the machine itself is the collateral. However, we also assist in finding lenders who offer machinery loans with no security.
Grace Periods
With InvestKraft, you may also get a moratorium period or a grace period, during which you are not liable to pay EMIs. However, the interest will continue to accrue. The moratorium period is given so that you can get your new machinery up and running.
What are the Advantages of Machinery Loans?
Machinery loans provide the necessary funds for businesses that may lack sufficient internal resources.
Investing in new equipment can lead to increased production, higher revenues, and improved profitability.
Modern machinery often offers improved speed, accuracy, and automation, leading to increased productivity and reduced labor costs.
Upgrading technology can help businesses stay competitive in their respective industries.
In some cases, the cost of machinery may be eligible for tax deductions or depreciation benefits.
Eligibility Criteria for Machinery Loan
The following are the basic eligibility criteria you need to meet to get a machinery loan:
| Eligibility Factor | Details |
|---|---|
| Good Credit History | A strong credit score and track record of timely loan repayments. |
| Business Viability | A well-defined business plan that shows how the machinery will boost growth or profits. |
| Financial Stability | Stable income, regular cash flow, and consistent revenue generation. |
| Collateral | Machinery or other valuable assets that can be pledged (if required). |
| Business Experience | Prior experience in managing or running a business is often preferred. |
Please note that these are the basic eligibility criteria. There can be some variations depending on your financial background and your lender.
Documents Required for Machinery Loan
The following is the table of basic documents required in order to get a machinery loan:
| Document Type | Details |
|---|---|
| Business Registration Documents | Certificate of Incorporation, Partnership Deed, or other proof of legal business setup. |
| Financial Statements | Recent P&L statements, balance sheets, and cash flow reports. |
| Business Plan | Detailed plan outlining machinery investment, expected ROI, and projections. |
| Credit History | Credit reports and recent bank statements of the business. |
| Collateral Documents | Ownership or registration documents of assets pledged as collateral. |
| Personal Financial Information | Income tax returns and bank statements of the business owner. |
Please note that these are the basic documents required. However, depending on your lender and your financial situation, there may be a requirement for more documents.
Who Can Apply for a Machinery Loan?
Small and Medium Enterprises (SMEs)
Large Corporations
Startups
Sole Proprietorships
Partnerships
Limited Liability Companies (LLCs)
Please note that if your application does not belong to any of the above applicant types, then please contact us, and we will help you get the best business loan based on your profile.
How to Apply for Machinery Loan?
In just 4 easy and simple steps, you can get a working capital loan for your business:
01
Visit InvestKraft Website
Access the InvestKraft website or call us.
02
Submit an Online Application
Fill out the online loan application form with accurate and complete information.
03
Document Upload
Upload the required documents as per the instructions.
04
Talk to a Loan Officer
Schedule a call or meeting if required with an InvestKraft loan officer to discuss your application and answer any questions.
Types of Business Loans
The following are some of the most required business loans. You can apply as per your requirement:
Rate of Interest and Other Charges on Machinery Loan
When you take a machinery loan, there is a rate of interest like every other loan. It is very important that you understand these charges and make an informed decision.
| Charge Type | Details |
|---|---|
| Interest Rate | From 7.50% to 30% p.a. |
| Processing Charges | Up to 2% of the loan amount (non-refundable). |
| Pre-closure Charges | Up to 6.5% of the outstanding loan amount. Varies by lender & tenure. |
| Bounce Charges | Around INR 500 + GST per instance (varies slightly by lender). |
| Documentation Charges | May be applicable, depends on the lender. |
| Insurance Premium | Required for asset protection during the loan period. However, some lenders do not make it mandatory. |
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