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.
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.
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.
Self Employed (Min-Max) 24 – 70 years
Business Stability for Self Employed 3 years and above
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.
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.
Below is the list of documents required for loan process.
