What Is Machinery Loan and How Does It Work?

Various business sectors, like packaging, manufacturing, and construction, heavily depend on machinery and equipment to complete their tasks on time. However, the purchase of new machinery can be a costly affair for a new or small business. We offer machinery loan to help SMEs purchase equipment that can give them an edge over competitors.

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instant business loan

ZipLoan is the Lender of Choice for Small Businesses.

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Minimal Documentation

No balance sheet needed

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Collateral Free Loan

For a business with turnover of 10L+

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Receive Funds within 3 Days

Straight into your account

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No Prepayment Charges

After first 6 months

What is a Machinery Loan?

Modern and updated machinery and equipment are an integral part of any business. The state-of-the-art pieces of machinery are required because of their flawless results and the quality of the products they deliver.

But buying machinery is an expensive investment which not every business can afford in one go. So, machinery loans can be availed to meet this requirement efficiently.

A machinery loan is a type of business loan which can be used by the manufacturers and other business owners to acquire machinery for their business ventures.

It helps the business to increase their overall productivity without spending a higher amount in purchasing machinery. It helps the business owners to get hold of better equipment and increase their profit from higher sales and distribution.

How does Machinery Loan Work?

We offer machinery loans without security ranging from Rs. 1 lakh to 5 lakh at attractive interest rates and flexible loan tenures. Our eligibility criteria are very easy to meet, and we require minimal documentation to process the application.

To avail a loan for machinery, visit our website and check your business loan eligibility. If you meet our eligibility, fill the loan application form with your information and the loan amount that you require. Next, upload the documents on our website. We will process your application, and if you meet the eligibility criteria, we will approve your application.

After signing the contract with us, the funds will be credited in your bank account. Once you get funds, you can use the funds to buy equipment or machinery as per your requirements.

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Solving Real problems

Ram Yadav

I have been running my business for over twelve years but have not been able to undertake expansion activities. I applied to Ziploan and they cleared my loan application in a very short span of time.

Kanchan Lata

I approached Ziploan for an equipment finance loan because they required no collateral. Their eligibility criterion was easy to fulfill because it required only 2 years ITR and 10 lacs of annual banking credit.

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