Flexible loan options to help you acquire the right machinery for business expansion.
A machinery loan is a financial solution designed to empower businesses to acquire or upgrade essential equipment
without straining their working capital. Machinery loans for MSMEs, startups, SMEs, larger businesses, and enterprises. Machinery financing ensures businesses
can enhance operational efficiency, integrate advanced technology, and stay competitive in the market.
What are Machinery Loans?
Machinery loans are a type of business loan that can be used to buy new machines or upgrade existing equipment.
Machinery loans help businesses overcome financial barriers, enabling them to scale operations without interruptions. With First Money, you can access machinery
lending options from India’s top-tier banks, NBFCs, and financial institutions. Whether you need a loan for machinery purchase or machinery finance for upgrades,
we ensure your business gets the best deal with higher loan amounts, attractive interest rates, and flexible loan tenures.
Features and Benefits of Machinery Loan
Wide range of machinery and equipment loan options
Loans can be availed for up to 100% of the equipment price
Avail machinery loans for new business MSMEs, or SMEs
Benefits for Government Loans for Machinery Purchases
Upgrade your business operations effortlessly with our hassle-free machinery & equipment financing options.
Eligibility Criteria for Machinery Loan
Applicant must be between 21 and 65 years of age
A credit score of 650 or higher
Minimum business vintage of 3 years
Documentation Required for Machinery Loan
KYC documents (Valid Photo ID Proofs)
Income tax returns (ITR) for the last 3 years.
Business ownership proof.
Proforma invoice of the machinery purchase.
Bank statements for the last 6 months.
Machinery Loan EMI Calculator
A Machinery Loan EMI Calculator is an online tool that helps borrowers calculate the Equated Monthly Installment (EMI)
for a machinery loan. By inputting details such as the loan amount, interest rate, and loan tenure, the calculator provides an accurate estimate of the
monthly payments, enabling businesses to plan their finances and manage cash flow effectively when investing in machinery.
Wide Range of Machinery & Equipment Financing Options that suit your Business Requirements
Medical Equipment Loans
Machinery Equipment Loan
Construction machinery finance
Manufacturing equipment loans
Farm machinery loans/finance
Aviation industry equipment loans
Used machinery loan
Loan Against Machinery
How to Apply Online for a Machinery Loan
Follow these simple steps to apply for a machinery and equipment loan online through First Money
Visit the website and navigate to the Machinery Loan section
Go to firstmoney.co.in
Click on Loans and select Machinery Loan.
Apply & Verify with OTP
Click Apply Now.
Sign in with your mobile number, and login via OTP verification.
Fill out the Consent Form & Submit
Enter address & income details along with provide loan details.
Select the provider First Money Experts, then click on continue with applied amount, and submit your application.
Wait for approval while Ruloans gets you the best deal that suits your business needs.
With First Money, you can also explore options for loan against machinery to unlock the value of your existing assets
and ensure uninterrupted cash flow for your business. As India’s leading loan distribution company, we offer a wide range of MSME loans for machinery needs,
providing a seamless process to secure financing for your equipment.
Machinery Loan FAQs
The interest rate for machinery finance varies depending on the lender, loan amount, and tenure. With First Money, you can access heavy machinery
financing and other equipment loans at attractive interest rates, ensuring affordability and suitability for your business needs.
Yes, machinery can often be used as collateral for a loan against machinery, depending on the lender's policies. However, some lenders also
provide machinery loan without security, which does not require additional collateral.
The interest rate for an MSME machinery loan varies by lender and depends on factors like loan amount, tenure, and
the borrower’s credit profile. Comparing offers from multiple lenders can help you secure a favorable rate.
Several Banks and NBFCs in India provide machinery loans to assist businesses in acquiring or upgrading equipment. Prominent lenders include
Kotak Mahindra Bank Limited, Poonawalla Fincorp Limited, Cholamandalam, U Gro Capital Ltd, Yes Bank Limited, Profectus Capital, MAS Financial
Services Limited, Protium Finance Limited, and Clix Capital Services Pvt Ltd. These lenders offer tailored machinery loan products with
attractive interest rates and flexible repayment options to meet various business requirements.
Machinery refinancing enables businesses to unlock the value of their existing machinery by availing funds against it. Renowned lenders
providing machinery refinancing solutions in India include Poonawalla Fincorp Limited, Kotak Mahindra Bank Limited, Cholamandalam, U Gro
Capital Ltd, Yes Bank Limited, and Protium Finance Limited. These loan against machinery type aim to boost working capital and streamline
cash flow management for businesses.
The eligibility criteria for a machinery and equipment loan generally include:
A machinery loan can be either secured or unsecured. Secured loans require collateral such as the machinery itself, while unsecured loans do
not require additional security but may have higher interest rates.
