Machinery Loans

Optimise your production with the best machines – Get an unsecured machinery loan for manufacturers

With the continuous evolution of technology, it has become imperative for manufacturing enterprises to have the latest equipment and tools that are vital to their operations. Prolonged use of obsolete machinery can be detrimental to business interests and presents an opportunity for competitors to overtake.

If your operations are in need of better machines and kits to improve productivity and product quality, do not let the high costs deter you from investing in them. Capital Float’s machinery loan for manufacturers is a customised offering for such business requirements. You do not have to pledge any security to get this funding.

Benefits of Unsecured Machinery Loan

A search for offers on an SME loan for manufacturers will reveal several options. When you delve into their details, however, it is disappointing to see that most of them require you to hypothecate some financial asset as a security to the lender. There may be a long list of terms and conditions that inform about paper-based documentation, witness signatures and an assortment of add-on charges. Such conditions dilute the benefits of ‘low interest rate’ that is advertised as a chief attraction of the loan.

On the other hand, a Capital Float business loan for manufacturers can be availed of without the condition of presenting any collateral. You do not have to hypothecate any asset to us. We lend solely on the creditworthiness of your business and verify such information through soft copies of the necessary company documents. The simplicity of application and the speed of disbursal are other advantages of our SME and MSME loan for manufacturers.

Features of our Machinery Loan without Collateral

Capital Float is a FinTech company where digital technology is leveraged to provide maximum convenience to customers. We have an online application procedure for all our unsecured business loans.

The essential features of a collateral-free machinery loan for manufacturers are:

Credit Ranging from 5 Lakhs to 50 Lakhs

We know that the costs of machines, assembly line equipment and other supportive devices can widely vary across industries. To match such differences, we too offer a wide loan range.

Loan tenure from 1 years to 3 years

A Capital Float business loan for manufacturers does not compel borrowers to repay the amount too early. Neither do we expect our borrowers to extend their EMIs into years if they prefer to be debt-free soon. You can borrow for a term that suits your business cycle most favourably.

Quick Decisions

In the age of digitalisation, why should one keep waiting for a response to a loan request? As soon as you complete and submit your application on the Capital Float website, our algorithms and analysts get to work and give you a decision within minutes.

Simple, Minimised Costs

When you get a machinery loan without security from Capital Float, you will know the exact interest rate and loan processing fee to pay for it. Our EMI calculator helps you to check the monthly instalments for repayments.

Quick Disbursal

Business needs are high-priority and to ensure that you can buy your machinery before their prices increase further, we disburse the approved loan amount within 72 hours of the application approval.

Eligibility factors: Machinery Loan for Manufacturers

The potential for growth, consistent revenue flow and unblemished credit history are the key parameters that make businesses eligible for a Capital Float loan. We do not ask for collateral and do not need you to bring any guarantors.

To be more precise, if you fulfil the following conditions, you have high chances of getting an approval on your loan application:

  • An operational vintage of minimum 3 years
  • Minimum Yearly turnover of 1 Cr
  • Availability of scanned paperwork for KYC and to verify business details
  • Compliance with the current Income Tax and GST laws of India

How to apply for machinery loan

Applying for a business loan for manufacturers takes less than 10 minutes on our secure website.

This is how to go about it:

  • Fill in the secure application form to provide your personal and business details
  • Substantiate the information by uploading scanned copies of documents required for machinery loan
  • Submit the data for a quick review by our decision engines
  • Get the decision on your application within minutes

Once your application is approved, and you agree to the loan amount, we disburse the funds to your bank account within the next 48-72 hours. You can use the funds soon after.

Understanding the Loan Fee

Your machinery loan without collateral carries a small processing fee of up to 2% of the amount. The rate of interest ranges between 16% and 24%.

Do not worry about any other fee such as loan administration charge, insurance premium, documentation fee and commission on letters of credit – we do not levy any of those.

Do you not find your business eligible for Machinery Loan?

Talk to us on 1860 419 0999 to explore more credit options for small businesses.