Plant & Machinery Loans

Get a business loan for purchase of equipment & Machinery from ABM Financial Services. Getting a equipment & Machinery Loan from ABM Financial Services is quick and easy. We provide Machinery Loan Services to our clients at nominal costs for everything from heavy machinery to machine equipment.

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Features of Plant & Machinery Loans

All loans are not created equal, Plant & Machinery Loans has become a great option for people to use. Plant & machinery Loan can be availed by small and medium sized manufacturers, traders, and service providers engaged in various industries. 

Loan Term

The loan amount is based on years in business, profit & current cash flow, It can be up to 30 Lakhs. Tenure for this loan is up to 6 years depending upon your age.

Interest Rate & charges

Attractive Interest Rate starting at 11.00%. The final rate of Interest will depend upon Profile, Loan amount and tenure.

Plant & Machinery Loans- Eligibility

Plant & machinery Loan can be availed by small and medium sized manufacturers, traders, and service providers engaged in various industries. Our Plant & machinery Loan eligibility criteria is applicable for self-employed individuals, proprietors, private limited companies and partnership firms. 

Age

Self Employed (Min-Max) 24 – 70 years

Business Stability

Business Stability for Self Employed 3 years and above

Credit Rating

Yes. A good (high) CIBIL Score and Clean Credit History is very important. All lenders refer to CIBIL score before making a final decision on Plant and Machinery Loan. CIBIL Score can be a Deal Maker or a Deal Breaker.

Frequently Ask Questions

The equipment finance quantum is decided based on your requirement, credit assessment and repayment capacity. Usually Plant and Machinery Loans upto INR (Rs.) 25 Crores are processed.

We accept a wide range of securities. The spectrum includes land & real estate property; plant & machinery, equipment; Fixed Deposits, Deposit Certificates, KVP, NSC, securities issued by Central and State Governments, gold and other cash equivalents; life insurance policies; and others.

Equipment financing will be processed within 10 working days provided everything is in order.

You have the flexibility of opting for Equated Installment, Bullet Repayment or Ballooning Repayment (depending on the requirements of your business). PDCs, ECS mandate and Electronic Transfers are all accepted means of payment.

Yes, you can prepay the loan. Foreclosure charges at 2% shall be applicable on the principal outstanding.

Your Business Loan makes you eligible for tax benefits* as per the prevailing laws. This means that you can save more money by claiming deductions in your income tax, against principal and interest amount repaid.

An EMI is the ‘Equated Monthly Installment’, which is the monthly payment that you make towards repaying your Home Loan on a specified date until your loan is repaid in full.

Documents

Below is the list of documents required for loan process.

  • KYC Documents of promoter and co-applicants
  • Shop and establishment certificate/VAT/Sales Tax Registration Certificate
  • PAN Card
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans
  • Registered partnership deed
  • KYC of partners
  • PAN Card of firm and partners
  • Shop and establishment / VAT/ Sales Tax Registration Certificate
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans
  • Memorandum of Association(MOA) / Articles of Association(AOA)
  • Latest shareholding pattern
  • KYC of Directors
  • PAN Card of the entity and Directors
  • Last 2 years financials with audit report
  • Last 6 months Bank statement of all bank accounts
  • Existing facility sanction letter/ Repayment Track Record (RTR) of existing loan, if any
  • Proforma invoice of machinery, in case of Plant & Machinery Loans
  • Property Documents in case of Property Term Loans

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