The Indian commercial scene has never been more competitive; with competitors from overseas markets introducing cheaper and better products, their Indian counterparts are struggling to keep pace.
The best recourse for local businesses is upgrading machinery, equipment financing and manufacturing processes to improve productivity and to stay ahead of all competitors.
Machinery loans are the most-preferred way to leverage new technology for application in industrial operations. With the right lender, one can look forward to the following benefits when availing a Machinery Loan.
Line of Credit:
This flexible feature allows individuals to borrow, repay and re-avail any amount within the assigned credit limit and tenure. During the tenure, repayment includes the interest component only while the principal borrowed is to be repaid when the tenure ends.
Loans up to Rs45 lakhs
Considering the fact that industrial machinery is quite expensive, lenders allow business owners to avail machinery loans up to 45 lakhs.
Many lenders provide machinery loans without any mortgage.
Pre-existing customers of selected lenders can look forward to benefits like pre-approved offers on machinery loans and lower interest rates.
Easy Online Access
Loan account and repayment management have been made easy with online access to all loan details.