Equipment Financing

Equipment Financing can be an invaluable asset to a business owner. If you have machinery and equipment that you own, you can turn that into capital you need to help your business grow. Let us help you find the best online equipment financing solution for your business.

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Choose Biz2Credit for easy and simple equipment financing.

Equipment financing is an important aspect of every small business. Most of the business-owners face shortage of capital for purchasing or leasing business equipment. In India you can avail equipment financing loan for various businesses like construction, restaurant, IT, transportation, to name a few.

Eligibility Conditions and Loan Amount

To secure a business equipment loan online, you should be a permanent resident of India. Your business should be at least 5 years old, and it should have an annual turnover of INR 2 crore. The minimum amount for equipment financing is INR 15 lakh and the maximum amount is INR 2 crore. The rate of interests for this loan ranges from 15% - 16%. All SMEs and other business entities are eligible for these loans. The minimum age of the applicant should be 18 years and the maximum years should be 65 years.

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Documents Required for Borrowing Equipment Financing

While obtaining online equipment financing, you will require the documents listed below:

  • Income proof This includes balance sheet or ITR (Income Tax Return)

  • Updated bank statement of last 6 months

  • Proof documents of business property

  • ID Proof Passport / Pan card / Voter ID Card / Driving License

  • Address Proof Ration Cards / Electricity Bill / Telephone Bill

  • Age Proof Pan Card or Birth Certificate

  • Passport size photographs

Equipment Purchasing Vs. Leasing

You can avail loan online for both equipment purchasing as well as leasing. However, you should decide carefully which option will be suitable for your business. Equipment purchasing requires large upfront payment, which can be an obstacle for newbie entrepreneurs. Hence, equipment leasing is a better option as it is cheaper in comparison to equipment purchasing. Equipment purchasing is suitable for businesses that require equipment for a longer period of time. Besides, it is suitable for them who wants to have equipment ownership.

Biz2Credit.in helps you secure a broad range of equipment financing products for small and medium enterprises. They can provide you loan for both equipment purchasing and leasing purposes. Moreover, you can obtain equipment financing online through Biz2Credit.in at affordable interest rates and in a hassle-free manner.

Have specific financing needs not listed above?

Have specific financing needs not listed above?

Get in touch with us

1800-3002-0653