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Why Machinery & Asset Purchase Loan?

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  • We finance the purchase of new machines and the purchase of used machines.
  • Loan amount Rs 3 lacs – 25 lacs
  • Longer Loan Tenor – up to 60 months
  • Rate of Interest – up to 26%
  • We offer direct payment to vendors to help you take quicker possession of your new machinery
  • Dedicated Maa Sarada Relationship Manager to support you with doorstep service, hassle-free process, and quick turnaround time

Details

Machinery & Asset Purchase Loan Highlights
Interest Rate 24 to 30 % (on a reducing principal balance basis)
Loan Amount 5 lakhs to Rs 25 lakhs  (Based on the risk profile of the Borrower at the time of sanction)
Tenor 1 year to 5 years
Processing Fee 2.5%
Machine Valuation Charges as Applicable
Login Fees Where Applicable

Documents Required for Loan

Bank Statement

Bank statement of the Enterprise and Proprietors / Partners

Bank Statement

Udayam Registration certificate

Bank Statement

Shops & Establishment Registration

Bank Statement

Electricity bill of the business*

Bank Statement

Income Tax Return

Bank Statement

Pan Card and Aadhar Card of the proprietors / partners

Bank Statement

GST Returns

Bank Statement

Proforma Invoice for Machinery

* Rent agreement to be provided along with electricity bill if business premises is rented premises

Frequently Asked Questions (FAQs) for Loan

Type of financing that allows a business to purchase new or used equipment, machinery, or other assets.

Any entrepreneur with a 2 year business vintage in manufacturing activity and looking to expand capacity.

We finance a wide range of machinery – CNC Machines, VMC machines, Lathe Machines, Food processing machines, Automated powerlooms including Rapier looms. If you are buying a machinery that is not listed here, don’t hesitate. Talk to our dedicated RMs and they will guide you.

We finance upto 80% of the machine price subject to a max loan amount of Rs 25 lacs.

24% - 30% pa

We offer longer tenor loans for asset purchase. Based on your requirement, we offer loan tenors upto 60 months for asset purchase.

We are very flexible in our collateral requirements. Machinery and Asset loan will be secured against the machinery bought.

Write to us at [email protected] and our dedicated RM will reach out to you to help you with the entire process

You can get a sanction within 72 hours of submitting a complete application and all required documents.

Kindly note that you do not have to pay any money to any Maa Sarada officers or other agents to have your loan processed. Subject to sanction, we charge the following fees:

  • Processing Fees upto 2.5% of the loan amount
  • Machinery valuation charges for used machine purchase, as applciable