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FAQs on Machinery Finance

FAQs on Machinery Finance

Machinery Loans for Businesses of all Scale

Updating to new technology plays a huge role in ensuring that your business grows. So, businesses have to adapt to the environment. That is they need to update their existing operations. One can opt for purchasing the latest machinery to increase production or can go for expansion. You can avail of a loan against machinery at attractive rates of interest with or without collateral. 

Machinery finance is designed specifically to help MSMEs thrive by expanding your sales and increasing your company’s profits. However, it is tailored to assist businesses in acquiring new equipment or replacing damaged machinery due to technological advancements or other reasons. Let’s delve into the following FAQs to gain a comprehensive understanding of machinery financing.

How important are machinery loans?

India has a large number of Micro, Small, and Medium Enterprises engaged in manufacturing as well as service industries. In the case of manufacturing enterprises, they require machinery to produce the goods. Such machinery can be costly. Hence there comes the requirement for machinery finance. Getting a loan for machinery purchases helps businesses significantly as they can buy the required tools and equipment. However, It increases their productivity.

Is it possible to obtain a machinery loan without collateral security?

Many institutions fund based on collateral. But we arrange the funding in both secured as well as unsecured ways depending upon the availability of collateral with the borrower.

Avail no collateral business loan to buy machinery or upgrade the existing one.

What is the maximum duration for repaying?

The tenure/repayment period of a machinery loan majorly depends upon the amount required for purchasing machinery. It can be availed for short as well as long term. Mostly the tenure is more than a year and can even go up to 5 years.

How much interest is applicable on machinery loans?

The interest depends on the availability of the mortgage. That is, whether the loan is secured or unsecured. So, if the borrower possesses the mortgage, the ROI applicable will be lesser. Whereas, in unsecured loans, the ROI will be higher as compared to the secured ones. Terkar Capital arranges both products at a reasonable rate for our clients.

Who can apply for machinery loans?

All eligible businesses can apply for machinery funding. The business engaged in manufacturing will require machinery majorly and therefore can opt for the same. 

What is the procedure in Machinery Funding?

The machinery loans can be availed through the following steps:

Learn from the case study, how to get a Machinery Loan here.

Terkar Capital for machinery finance

The following are the benefits that we provide to our clients:

  • We arrange funding, even for the larger amount of machinery.
  • We offer machinery loans in both secured and unsecured ways depending upon the availability of collateral with the borrower and his credit score.
  • Terkar Capital maintains confidentiality and transparency in the process.
  • We are one of the top machinery finance companies, offering you convenient access to funds.
  • We arrange a wide range of lenders and choose the best suit for the borrower as per his needs.
  • Our team of experts constantly guides the client and makes their procedure convenient.
5 Responses
  1. Sanjay Hanje

    I’m Sanjay, Hanje Hydrotech based in Sangli Maharashtra. Am a manufacturer of fly ash bricks-making machines, paper bag-making machines & Sugar cane harvesters. Am looking for a machine loan for my clients.

    1. Thank you for your input, Sanjay. We would be happy to assist you in finding a machine loan for your clients. Please let me know the specific details of the loan requirements. Do reach out to us and we will do our best to find suitable lenders. Thank You.

      Best Regards,
      Team – Terkar Capital

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