All Services
Equipment Financing / Machinery Loans
Purpose
To purchase or lease new equipment or machinery needed for business operations.
Features
- Loan amount based on the cost of the equipment
- Collateral-free business banking loans
- Maximum 7 years of tenure.
Eligibility
- Business Type: Open to businesses looking to purchase or lease equipment.
- Business Age: Typically requires at least 2 year of operation.
- Credit Score: Good credit history preferred.
- Equipment Need: Clear documentation of the equipment’s purpose and value.
Basic Documentation
- Business Registration: Proof of business registration or incorporation.
- Equipment Quote: Proforma invoice or quote from the equipment supplier.
- Financial Statements: Recent profit and loss statements, balance sheets, and cash
flow statements. - Bank Statements: Last 6 to 12 months of business bank statements.
- Tax Returns: Recent business tax returns (typically last 2 years).
- Personal Identification: Identification of business owners.
- GST returns: Recent business GST returns (typically last 1 years).