Construction Equipment Loan
Power Start your business with MUDHALPADI!
Mudhalpadi strives to empower industrious workers by facilitating access to construction equipment. We aim to enable individuals to become owners of such machinery, thereby uplifting their lives through ownership and utilization of essential equipment.
| Construction Equipment | Tenure | Loan Given Upto |
|---|---|---|
| New Equipment | 6 years | 90% |
| Old Equipment | 5 years | 70% | *2 advances to be made in advance |
Features and Benefits
Flexible Tenure
You can choose your loan tenure
Credit Enhancement
Customer is eligible for top-up of loan amount after 12 months EMI are repaid.
Finance for Used Equipment
Get finance for used construction equipment.
Eligibility
Nationality: Indian
Credit Score: 685 or higher
Age: 21 years to 75 years
Business vintage: Eligibility will be reviewed on a case to case basis
Sole proprietorship firms
Private limited companies and closely held limited companies
Partnership firms & limited liability partnership firm
Required Documents
Photo Identity Proof
- Aadhar Card
- PAN Card
- Voter Id
- Valid Passport
- ID Proof issued by Panchayat
- Updated Bank passbook with Photo attestation by Nationalized Bank/Pvt Bank
Address Proof
- Aadhar Card
- Ration Card
- Voter Id
- Electricity Bill
- Valid Passport
- Updated Bank Passbook of Nationalized Bank/Pvt Bank with same address
*Please choose any 2 documents from each photo identity proof and address proof list.
Income Proof and other Documents
- Proposed Vehicle Quotation (For New Vehicle Only)
- Proposed vehicle RC/invoice and insurance copy (For Used Vehicle Only)
- Work in hand/ contract copies
- Insurance cover note post disbursement
- Loan agreement duly signed along with RTO set
- List of Assets for "Plant Hirers
- Past equipment ownership proof with free & finance details
- Performa Invoice
- Income Tax return
- GST
- Financial Statements
Collateral Documents
- Title Document
- Pledge agreement
- Tax Certificate
- Non - encumbrance letter
- No objection Letter and other documents as per sanction