#182/B, First floor, B.K Guda, S.R.Nagar, Hyderabad

Machinery Loans

Keep your business updated and running with machinery loans that can ensure seamless business operations. Attractive interest rates, transparent processes and costs, minimal documentation, quick disbursals and expert guidance make our Machinery Loans a better choice.

Eligibility

Age

21 years to 60 years -Business vintage to be a minimum of 3 years -Business should be in profit in the last 2 years

Citizenship

Indian citizen with no criminal record -Applicant should not have defaulted on the previous loan

Documents Required

  • Identity proof: Identification proof with appropriate KYC documents including Aadhaar card, voter ID, PAN card, passport, driving license or any other valid document issued by the government.
  • Address proof: Passport, electricity bill, ration card, telephone bill, lease agreement, trade license or certificate of trade license.

Financial documents

  • A copy of Income Tax Return filed for at least one year.
  • Bank account statement for the last 6 months.
  • Balance Sheet and Profit & Loss Statement for the previous 2 years, audited by a CA.
Business Responsive WordPress Theme

Business ownership proof

  • For self-employed professionals: Registration document in case of sole proprietors. Other proofs of business identity for self-employed professionals include documents issued in the concern’s name like PAN card, payment receipt for municipal tax, electricity bill, IT returns, etc.
  • For self-employed non-professional: Sole proprietor’s registration document, individual identity proof of the owner, IT Returns, at least 6 months of bank statements of the owner, statement of creditor/book debt/periodic stock, GST return, etc.

For other entities (partnerships and Private Limited companies):
Partnership agreement in case of partnership firms and Certificate of Commencement/Article and Memorandum of Association for Private Limited companies. Other supporting documents for these concerns include returns of Income Tax, Goods and Services Tax, registration certificate under the Shops and Establishment Act, etc. Besides, partners and directors also need to submit individual proofs of identity.

Common Questions

Machinery/equipment loan is a type of business loan that helps business owners to get funding for machinery/equipment required to streamline their business processes and scale up production.
The loan amount you can avail depends on the actual cost of the machine, whether new or used equipment, the operational status of the business, and many more factors.
You can usually avail from Rs. 50,000 to 1 Crore
The repayment period on machinery loans can be as short as 36 months and can even extend out for 10 years.
We don’t charge any penalty or fees on repayment of the machinery loan amount before tenure. However, check with us for any policy changes.
Yes, machinery loans are eligible for a tax deduction.
The possibility of a loan extension may entirely depend on a case-by-case basis.

Let's Talk Money!

Make your grand plans possible by talking to us about your financial needs.