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Posted on Monday March 23rd, 2020

Equipment financing is a quick and easy way to fund up to 100% amount of the machines, vehicles, hardware, or anything else that is required to run a successful business. The advanced era is challenging many businesses today and poses even greater difficulties for the entrepreneurial start-ups and small scale industries that are struggling to get established expand or just stay in the corporate sector. Therefore, it is important for the new ventures and small businesses to understand the financing options for the equipment that is needed to operate and grow their firms. Thus acquiring the equipment through leasing and other financing methods is more flexible and customized to meet your unique business needs. This is what makes “Machinery Loan from ShubhBank” a perfect fit for the small and medium scale businesses, which might have to face trouble getting the traditional lenders. There is no jumping through the same hoops as with the commercial and the industrial loan with our financing options.

Equipment financing refers to the method of extending the capital to businesses for the purpose of acquiring the required equipment. The methods include equipment leasing as well as sale-leaseback wherein the existing pledged equipment to raise cash for additional expenses. However, there are plenty of reasons as to why a small business owner may find the benefits of equipment financing from ShubhBank preferable to obtain machinery loan instead of a traditional business loans.

Minimal documentation: The traditional lenders generally require at least two or three years of profitable business operation and make it extremely difficult for the new ventures and even many thriving small businesses to get this loan because these loans are secured by the piece of equipment that’s being financed. Moreover, there is no need to prepare a lot of paperwork to get the equipment which a business owner needs to start or grow the business.

Access to own cutting-edge equipment: If a crucial piece of significant machinery breaks down and it needs costly repairs, a Machinery Loan offers the possible way to replace it with the latest model. Moreover, many equipment financing loans offer trade-in options so that one can trade in the machine for a newer model after a set time period to ensure that a person always own the upgraded machinery, which helps one’s business to stay ahead of the competition.

Save money: An equipment loans typically allows a business owner to finance 80-100% of the cost of equipment and sometimes with no down payment. Additionally, some lending institutions offer the businessman flexible repayment terms which helps a business person to maximize the cash flow.

Quick Approval: Generally, financing institutions makes a Quick Approval On The Machinery Loan Application if you have all the required documents in hand.

High value of the business: A business immediately starts enjoying the value of a machine, which adds to the business’s net assets without a huge cash outlay.

Preparing yourself with accurate information of equipment financing will enable the business person to get the equipment which they need at the best possible interest rates.