Equipment & Machinery Loan
Let MUDHALPADI be the engine to your business!
Manufacturing companies have consistently been the backbone of India, transforming ideas into innovations, generating employment opportunities for the general populace, and actively contributing to the nation's development in alignment with its visionary goals.
Tenure
12-84 Months
Interest Rate
14-20%
Processing Fee
Upto 3.5%
Features and Benefits
Equipment / machinery will be hypothecated as a security. Loan ranges Upto ₹50,00,000 covering the requirements of Micro and small business owners equipment and machinery loan.
Flexible Tenure
You can choose your loan tenure for any period between 1 and 7 years
Credit Enhancement
Customer is eligible for top-up of loan amount after 12 months EMI are repaid.
Eligibility
Nationality: Indian
Credit Score: 685 or higher
Age: 21 years to 75 years
Work status: Self-employed
Business owners and entrepreneurs
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
- ITR
- Copy of GST Registration
- Copy of monthly and quarterly GST Returns
- Shop Act Licence (for urban/semi-urban)
- Certificate of Incorporation of Borrower Company and Memorandum of Association (MOA) and Articles of Association (AOA)
- Copy of Registered Partnership Deed
- Copy of Registered Deed for LLP
- Bank statements
- Copies of all existing facility/sanction letters/Track records
- Financial statements
- Udyam Registration
- MSME Certificate and other documents as per sanction