Get Machinery Loan for Your Business
Get a business loan for machinery purchase to support expansion, capacity growth, or equipment upgrades. This financing option helps business owners purchase new or used machinery for commercial, industrial, manufacturing, or service-based operations, with funding of up to 90% of the equipment value.
- Loan up to ₹15 Crore
- Tenure of up to 25 years
- Balance transfer Available
- Fast And Easy Process
- Minimum Documentation
Zero Fees & Charges
Lowest Interest Rates
Fully Online Process
50+ Banks & NBFC
Apply Now for Fast Approval!
Highlights
Apply for a Machinery Loan Today
CreditCares helps businesses get machinery loan solutions starting from 9.00% per annum, with flexible repayment options of up to 25 years. This financing solution supports the purchase of machinery and equipment used in manufacturing units, factories, workshops, logistics operations, and service industries.
Through strong partnerships with leading banks and NBFCs, we help businesses access equipment loan rates today that suit their cash flow and operational needs. The application process stays straightforward, with faster approvals and limited documentation.
Low equipment loan rates and longer tenure help keep monthly outgo manageable, making financing for machinery easier for growing businesses across India.
Machinery Loan Details
What Is a Machinery Loan?
A Machinery Loan is a type of business financing used for purchasing new or pre-owned machinery, plant equipment, tools, and operational assets. This loan helps businesses improve productivity, expand capacity, or replace outdated equipment without disturbing working capital.
Machinery Loan Interest Rates
Machinery Loan interest rates generally range between 9.0% and 14.50% per annum. The final rate depends on: Type and value of machinery Loan tenure Business vintage and turnover Credit profile of the applicant Repayment capacity Banks and NBFCs evaluate these factors to decide applicable equipment loan interest rates for each borrower.
Eligibility Criteria for Machinery Loan
Lenders may review business stability, cash flow, and machinery usage before approving an equipment machinery loan.
Documents Required for Machinery Loan
Here is the list of documents typically required by banks for availing a Machinery Loan:
- Passport (optional)
- Driver’s license
- Aadhar card*
- Voter ID card
- PAN card*
- Utility bills (electricity, water, gas)*
- Deed
- Mother Deed
- Khazna
- Porcha
- Sanction Plan
- Tax Bill
- GST registration certificate.
- Partnership deed (for partnerships business)
- Memorandum and Articles of Association (for companies)
- Trade license
- Shop and Establishment certificate
- Udyam certification with annexure
- GST certificate
- Business bank statements
- Income tax returns of the business
- GSTR 3b
- Audited financial statements (Profit and Loss statement, Balance Sheet)
- Business income proof (such as sales invoices, contracts, or revenue statements)
- Passport-sized photographs
- References
- Any additional documents requested by the lender
- Having a co-applicant is mandatory.
- In certain cases, having a woman co-applicant is also mandatory.
- A co-applicant can be a spouse or any first blood relative, such as parents, siblings, or children who have attained the age of maturity (subject to the income-ownership grid).
- All co-owners of the property must be part of the loan structure.
- Friends cannot be co-applicants unless they are coming in the capacity of partners, directors, or shareholders.
How to Apply for Machinery Loan
If you are wondering how to apply for machinery loan, the process usually involves: Sharing basic business and machinery details Choosing the right lender based on equipment loan rates Submitting documents Loan evaluation and approval Disbursement directly to the supplier or account Our team assists at every stage to simplify financing for machinery.
What We Do?
At CreditCares, we act as a dedicated Machinery Loan DSA, supporting businesses in arranging financing for machinery through trusted banks and NBFCs. Our team assists in assessing business needs, selecting suitable lenders, and comparing equipment loan rates today to help clients access cost-effective funding. From initial discussion to application submission, we streamline the process for a smooth experience while helping businesses get machinery loan approvals faster.
We continue to support business owners planning a business loan for machinery purchase, equipment replacement, or capacity expansion. Our role as a Machinery Loan DSA focuses on clear guidance, accurate documentation, and lender coordination to secure practical equipment loan interest rates. With access to multiple funding options, CreditCares helps convert machinery requirements into structured loan solutions that support long-term business growth.
Our Happy Clients
Frequently Asked Questions
A Machinery Loan is a financing solution that helps businesses purchase or upgrade machinery and equipment for commercial, industrial, or manufacturing purposes.
Business owners, self-employed professionals, income tax assessees, and NRIs (as per lender policies), typically aged 21-65 years, can apply.
Machinery loan interest rates usually range from 9.0% to 14.50% p.a., depending on the lender, loan amount, tenure, and borrower profile.
The maximum loan amount varies by lender, project type, and borrower profile, with some banks offering up to ₹15 crore.
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Essential documents include identity proof, income proof, business registration documents, property or collateral documents (if applicable), and equipment quotations or invoices.
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