Many SME and MSME businesses want to reap the benefits of using modern technology and equipment. With the opening up of the Indian economy, low-price products have been flooding the market and it is getting more difficult for domestic businesses to keep manufacturing costs down.

To combat this, businesses need to constantly purchase and also upgrade their machinery to keep up with the advancement of technology. Equipment financing can be very useful in these situations as it can help the business owners to procure the latest equipment to boost their productivity, stay ahead of competition, and enjoy the positive reputation of being a tech-savvy company.

Various sectors like construction, packaging and manufacturing rely heavily on machinery to carry out their operations efficiently. The cost of equipment machinery is huge and taking an equipment machinery loan would be the best option for a business that wants to maintain its competitive edge. If an SME owner plans to expand into a new business vertical or further his or her existing business, a small business loan will help in getting closer towards this goal.

A machinery loan by Bajaj Finserv will give your business a much-needed boost, increase your profitability and give you the means to surge ahead of your competition. Bajaj Finserv also offers facilities such as a business line of credit, which enables you to access financing up to a limit, and use as much as you need within that amount. You can repay and re-borrow as many times as you need, giving your business a flexible source of financing. Listed below are the various features of the machinery loan from Bajaj Finserv, which can catapult your business to the next level.

Also Read : Equipment Loans For Your Business Expansion

Features of Bajaj Finserv’s Machinery Equipment Loan

Flexible Line of Credit

A unique facility, line of credit is given to borrowers to allow for maximum flexibility and convenience. Under this facility, you can get a certain limit of credit for a certain amount of time. The monthly repayment instalment consists of only the interest amount on the amount borrowed and not the total principal amount. The principal amount of the loan can be repaid at the end of the tenor. You have the freedom to borrow as many times as you like up to the limit and repay and re-avail the repaid amount too. This works beautifully for business owners looking to buy or upgrade equipment where the final loan amount needed is unknown.

Loan Amount up to Rs.30 lakh

Everybody’s machinery loan tenor requirements are different; some may want short-term loans, some may need intermediate-term loans and others, long-term loans. Bajaj Finserv offers business loans up to the amount of Rs.30 lakh which you can use to invest in machinery and equipment, with a repayment duration of 12 months to 96 months.

Collateral not needed

Bajaj Finserv’s machinery equipment loans don’t require any collateral, so you will not need to put your personal or business assets at stake to qualify for the loan.

Pre Approved Offers for Existing Customers

Bajaj Finserv has many exciting pre-approved offers for existing customers where you can get a top-up loan or even lower interest rates.

Online Access

All business loans offered by Bajaj Finserv come with online access to loan information, where you can see all your details regarding like loan payments, schedules, etc.

So what are you waiting for? Give your business the push it needs by buying advanced machinery and equipment with a customised business loan for just this purpose.

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