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Machinery Loan: Boost Your Business Growth

Key Features:

  • Purpose-Driven: Specifically for buying machinery or equipment.
  • Flexible Amounts: From thousands to millions, based on needs.
  • Collateral: Machinery itself often secures the loan.
  • Competitive Rates: Lower interest starting from 10.50% annually.
  • Manageable Terms: Repayment periods ranging from a 1 years to 6 Years.
  • Tax Benefits: Potential tax deductions on interest and depreciation.

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Machinery Loan

Types & Eligibility & Common Uses

Types:

  • Equipment Financing: Loan secured by the machinery.
  • Equipment Leasing: Lease machinery with potential buyout option.
  • Hire Purchase: Lease with a purchase option at the end.
  • Operating Lease: Short-term rental, return at lease end.

Eligibility:

  • Creditworthiness: Strong credit history and financial health.
  • Business Tenure: Preferably established businesses.
  • Revenue: Consistent income and profitability.
  • Down Payment: Sometimes required.

Common Uses:

  • Manufacturing: Upgrade or buy new equipment.
  • Construction: Invest in heavy machinery.
  • Agriculture: Purchase farm equipment.
  • Technology: Acquire advanced tech tools.

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