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Machinery Loan
What are Machinery Loans?
Machinery loans are a type of business loan that can be used to buy new machines or upgrade existing equipment. Machinery loans help businesses overcome financial barriers, enabling them to scale operations without interruptions. With Avs Loans, you can access machinery lending options from India’s top-tier banks, NBFCs, and financial institutions. Whether you need a loan for machinery purchase or machinery finance for upgrades, we ensure your business gets the best deal with higher loan amounts, attractive interest rates, and flexible loan tenures.
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Easy documentation
Easy documentation
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Low interest rates
Low interest rates
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Improve credit score
Improve credit score
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Tax benefit
Tax benefit
Eligibility Criteria for Machinery Loan
Age (21 to 60 years)
Minimum business vintage of 3 years
Credit score above 650
Features and Benefits of Machinery Loan
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Wide range of machinery and equipment loan options
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Loans can be availed for up to 100% of the equipment price
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Loan Amount Range from ₹5 Lakh to ₹5 Crore
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Rate of Interest (ROI) Starting from 12% Onwards
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Digital & Minimal Documentation
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No Additional Collateral is Required
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Tenure from 12 to 60 Months
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Easy & Quick Disbursal
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Customized Repayment & Flexible foreclosure options
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Avail machinery loans for new business MSMEs, or SMEs
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Catering to customers in rural & semi-urban areas
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Benefits for Government Loans for Machinery Purchases
Personal Loan Eligibility and Documents
Read on to know the criteria required to apply for our Personal Loan.
Documentation Required for Machinery Loan
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KYC Documents (Identity & Residence)
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Income tax returns (ITR) for the last 3 years.
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Business ownership proof.
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Proforma invoice of the machinery purchase.
We always help
They frequently asked
questions
? What is the interest rate for machinery finance?
The interest rate for machinery finance varies depending on the lender, loan amount, and tenure. With Avs loans, you can access heavy machinery financing and other equipment loans at attractive interest rates, ensuring affordability and suitability for your business needs.
? Can machinery be used as collateral?
Yes, machinery can often be used as collateral for a loan against machinery, depending on the lender's policies. However, some lenders also provide machinery loan without security, which does not require additional collateral.
? What is the interest rate for a MSME machinery loan?
The interest rate for an MSME machinery loan varies by lender and depends on factors like loan amount, tenure, and the borrower’s credit profile. Comparing offers from multiple lenders can help you secure a favorable rate.
?Who are the lenders offering machinery loans?
Several Banks and NBFCs in India provide machinery loans to assist businesses in acquiring or upgrading equipment. Prominent lenders include Kotak Mahindra Bank Limited, Poonawalla Fincorp Limited, Cholamandalam, U Gro Capital Ltd, Yes Bank Limited, Profectus Capital, MAS Financial Services Limited, Protium Finance Limited, and Clix Capital Services Pvt Ltd. These lenders offer tailored machinery loan products with attractive interest rates and flexible repayment options to meet various business requirements.
? Who are the lenders offering machinery refinancing?
Machinery refinancing enables businesses to unlock the value of their existing machinery by availing funds against it. Renowned lenders providing machinery refinancing solutions in India include Poonawalla Fincorp Limited, Kotak Mahindra Bank Limited, Cholamandalam, U Gro Capital Ltd, Yes Bank Limited, and Protium Finance Limited. These loan against machinery type aim to boost working capital and streamline cash flow management for businesses.
? Eligibility criteria for machinery loans?
The eligibility criteria for a machinery and equipment loan generally include.
