Now, every manufacturing/production unit can meet its business expansion requirement with attractive Plant & Machinery Loan. Give your business all it needs to grow and prosper. One can avail Plant and Machinery Loan without any collateral or security against sufficient monthly regular income proof. Klariti TaxCorp shall stand shoulder to shoulder with you in facilitating Best Possible Finance (i.e. Plant and Machinery Loan) in the Shortest Possible Time and at Lowest Possible Interest Rate. We will also make Loan Application Process Smooth, Transparent and Convenient for You. We have facilitated Plant and Machinery Loans "All Across India" and for a "Vast Array of Circumstances" with an aim to Spread Business Success by partnering with our clients. Entrepreneurs who want to get Plant and Machinery Loan for a StartUp Company can face difficulty from lender while following the regular Plant and Machinery Loan application process, since the lending institution looks at applicants Credit Worthiness and capability of Loan Repayment. In the case of StartUp's Plant and Machinery Loan Application, the lender might also scrutinise the personal credit worthiness and trust worthiness (previous financial background, credit history, liabilities, other debts (if any), education, business plan, promoters investment in the StartUp) of the StartUp Promoters. Klariti TaxCorp with its team of professionals and vast experience in working with StartUp Companies, shall guide you throughout the complete process of Plant and Machinery Loan Documentation and upto Loan Disbursement.
Benefits with Klariti TaxCorp
- Amount : Loan Amount up to 90% of the Equipment / Machinery Value.
- Documentation : Easy, Minimum and Precise Documentation. All Your Information is Secure & Confidential.
- Agile Operations : Fast Processing & Decision Making of Loan Application (Quick Approval) in 48 Hours. No Collateral.
- Loan Repayment :Flexible and Attractive Loan Repayment Options for Clients
- Transparency : Transparent Process with No Hidden Costs for Clients
- Convenience : 100% Doorstep Service for Clients. No Branch Visits Required.
Loan Eligibility Check is the first step towards a successful Plant and Machinery Loan Application. Different lenders have different eligibility criteria's. However, below are some macro level criteria's which must be understood well, in order to get the best deal :
Monthly Income :Regularity and Amount of your company's monthly turnover/income greatly influences the Amount of Loan i.e. INR (Rs.), which a lender shall sanction. The higher the amount of company's monthly income/turnover, the Higher the amount of loan sanction and greater the chances of loan approval. Monthly income can be from all business sources.
Business Performance :
- Nowadays, Credit Score (CIBIL Score) is fast catching up as a major criteria for Loan Sanction or Denial. It is advisable to plan for Plant and Machinery Loan well in advance and maintain a good CIBIL score. CIBIL score is impacted by your Historical Banking and Previous Loan Servicing records. Your CIBIL score can make or break the deal.
- As a Entrepreneur, you must submit your Company Details, Asset Details, Bank Statements, Tax Returns as proof of your Financial Stability/Soundness.
Relationship with Lender :A trustworthy and progressive business relationship with the lender (Banks/NBFC etc) can go a long way in Negotiating a Favorable Plant and Machinery Loan Deal for Higher Loan Amount at Lower Interest Rates. Klariti TaxCorp has excellent business relationship with Banks, NBFC's across India. Loan Eligibility Calculator
- Credit Score : A healthy Credit Score between 700-900 points is a Great First Step.
- Financial Documentation : Company’s Financial Situation and Past Performance along with Cash Flow Statement, must be ready and well documented. At Klariti TaxCorp, we will help you to optimise your Loan Documentation for success.
- Company Presentation : A clear, precise and focused presentation of your Business Idea with an Execution Plan.
Interest RatesInterest Rate on Plant and Machinery Loan Amount is one of the most crucial factors, which can affect the profitability of a Business Operation/Process. Interest Rate is a high contention parameter while considering a Lender for Plant and Machinery Loan. It is an established Good Practise to always compare Interest Rates of various Lenders before signing up with the best possible option. A higher interest rate shall be a monthly burden on company's Monthly Cash Blow, Capital Budgeting and vice-versa. Interest Rates for Plant and Machinery Loans can be availed in two formats :
- Fixed Rate of Interest : Fixed Rate of Interest during the Entire Duration of Loan Servicing Period.
- Floating Rate of Interest : Interest Rates can vary from time to time, based on revision of MCLR by Banks/Lenders.
- Plant and Machinery Loan : Manufacturing/Production Facility Expansion/Diversification/Quality Certification
- Plant and Machinery Loan : Plant/Factory Modernsiation
- Plant and Machinery Loan : New Equipment Purchase
- Plant and Machinery Loan : New Project SetUp
- Plant and Machinery Loan : Refinance for existing Plant and Machinery Loan
ID Proof (any one)
- Driving License (DL)
- PAN Card
- Aadhaar Card
Residence Proof (any one)
- Utilities Bill (Water/Electricity) - latest
- Ration Card
- Rent Agreement (notarized)
- Bank Statement (where salary/income is credited)
Office Address Proof
- Rental Agreement / Property Proof of Ownership
- Salary Slips (for the last three months)
- Income Tax Returns (last three years)
- Investments (FD, Shares, Assets etc)
- Latest Passport Size Color Photographs