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Equipment Finance

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Equipment Finance by Mahindra Finance

Give your business all that it needs to grow. Get a business loan of up to Rs. 25 crore for purchase of equipment, required for facility expansion, modernisation of existing plants and new projects.

  • Features & Benefits
  • Eligibility & Documentation
  • FAQs
  • Finance amount: Up to Rs. 25 crore
  • Margin requirement: Flexible
  • Tenure: 6 months to 5 years
  • Security: Normally asset cover of 1.5 times

Eligibility:

SME loans are offered to companies/partnership firms in select sectors like automobiles, auto-ancillary and food and agri-processing.

  • The company/firm must be in business for at least 3 years with profit in the last audited financial year
  • Greenfield projects can be considered only from established players in that business
  • Dealer inventory funding loans can be considered for established dealers of reputed automobile OEMs

Documents required:

  • Company profile including existing product range
  • Promoter profile including KYC details
  • Purpose of the loan
  • Security offered
  • Audited balance sheets of the last 3 years

The credit officer might require additional documents during the credit evaluation.

To apply, just email us at SME.solutions@mahindra.com and we will get back to you.

FAQs:

Equipment Finance

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How do I approach Mahindra Finance for an equipment finance?

You may reach us at 022-6632-7940. You may also email your queries at sme.solutions@mahindra.com.

How much equipment financing can I avail of? How is the quantum decided?

The equipment finance quantum is decided based on your requirement, credit assessment and repayment capacity. However, it is limited to Rs. 25 crore.

What can be accepted as security?

We accept a wide range of securities. The spectrum includes land & real estate property; plant & machinery, equipment; Fixed Deposits, Deposit Certificates, KVP, NSC, securities issued by Central and State Governments, gold and other cash equivalents; life insurance policies; and others.

How long will it take to get an equipment finance?

Equipment financing will be processed within 10 working days provided everything is in order.

How do I repay my equipment loan?

You have the flexibility of opting for Equated Instalment, Bullet Repayment or Ballooning Repayment (depending on the requirements of your business). PDCs, ECS mandate and Electronic Transfers are all accepted means of payment.

Can I prepay the equipment loan?

Yes, you can prepay the loan. Foreclosure charges at 2% shall be applicable on the principal outstanding.

© 2017 Mahindra Finance

CIN - L65921MH1991PLC059642

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