Machinery Loan
All kinds of equipment that facilitate production are must-have assets for business enterprises of any size.
At Posiitive Ally, we support manufactures who need financing in order to purchase business equipment to transform their production processes and make them more efficient or may seek financing to repair faulty equipment or purchase upgraded versions.
Benefits & Features
- Higher Productivity - A machinery loan allows you to upgrade to newer technologies using which you can produce more units in lesser time. As a result, you will experience greater sales and be able to meet your customer needs in a timely manner
- Better Quality - Naturally, as you upgrade to newer machinery, you will be able to manufacture products that are high in quality, strengthening the trust your customers have in you
- Faster Turnaround Time - The machinery you invest in via machinery finance solutions will improve your manufacturing efficiency and result in timely delivery of products. With faster turnaround time, you can meet your production targets and improve your business relations
- Higher Profits - Improved productivity will naturally improve sales, leading to greater ROI. Moreover, the increase in productivity will reduce the cost per unit, further enhancing your profits.
Who Can Apply For for Machinery Loan?
- You must be within 25 to 65 years of age
- Your business turnover must show an upward trend
- Your business must have been profitable for three consecutive financial years
EMI Calculator
You can use the EMI Calculator to calculate your monthly installments way before you apply for a loan and have a definite estimate of your monthly payments well in advance.
Documentation Required for Machinery Loan
Following are the documents you would need to submit for all applicants / co-applicants for the loan approval
| Sole Proprietorship | Pvt. Ltd. | Partnership |
|---|---|---|
| KYC - Applicant & Co-Applicants | ||
| Photograph of Applicant & Co-applicants | Photograph of Applicant & Co-applicants | Photograph of Applicant & Co-applicants |
| Identity proof of Applicant & Co-applicants | Pan card of the company | Pan card of the company |
| Address proof of Applicant & Co-applicants | List of directors on shareholding pattern-certified by CA | Partnership Deed |
| Business vintage proof | Business vintage proof | Business vintage proof |
| GST registration | GST registration | GST registration |
| Article of Association and Memorandum of the company | Identity proof of all partners | |
| Identity proof of all directors | Address proof of all partners | |
| Address proof of all directors | ||
| Income Proof - Certified by CA | ||
| Last 3 years Financials - Attested By Proprietor/Director/Partner | ||
| Income Tax Return | Income Tax Return | Income Tax Return |
| Computation of Income | Computation of Income | Computation of Income |
| Balance Sheet | Balance Sheet | Balance Sheet |
| Profit & Loss | Profit & Loss | Profit & Loss |
| Creditors & Debtors | Creditors & Debtors | Creditors & Debtors |
| Complete all Audit Report | All Director's Report | Complete all Audit Report |
|
Complete all Audit Report |
||
| 26 AS | 26 AS | 26 AS |
| GSTR-3B (updated one year)* | GSTR-3B (updated one year)* | GSTR-3B (updated one year)* |
| One year Bank Statement of Saving & Current accounts | One year Bank Statement of current accounts | One year Bank Statement of current accounts |
| (In PDF Format) | (In PDF Format) | (In PDF Format) |
| All Directors | All Partners | |
| Income Tax Return | Income Tax Return | |
| Computation of Income | Computation of Income | |
| 26 AS | 26 AS | |
| One year Bank Statement of Saving accounts | One year Bank Statement of Saving accounts | |
| (In PDF Format) | (In PDF Format) | |
| Other Documents | ||
| Current loan SOA if any | ||
| Ownership Proof * | ||
| Performa Invoice of Machine | ||
All documents to be self attested. The above list is indicative in nature and additional documents can be asked for.
For quick apply to send all documents in PDF format to our email info@positiveally.in
Reasons to Avail Machinery Loan with Posiitive Ally
- Connected with top private and nationalized banks & NBFCs, which helps you to get market’s most attractive & affordable loan.
- Enjoy the hassle-free experience with minimal documentation, doorstep document pick up at your desired location.
- Provide pre-loan & post loan support with advisory services.
- Quick turnaround time and complete secure process.