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Posted on Monday February 15th, 2021

If you are running a small business, then it is necessary to have high quality machinery to ensure operations run smoothly. With the hiking prices amidst COVID-19 outbreak, most of the business cannot survive without an equipment financing. Whether somebody owns a restaurant and in need of new food processors or a transportation business that requires more automobiles, so pursuing a Machinery Loan is a worthwhile decision. In this article, we have described some reasons to pursue a machinery loan.

♦ Invest in machinery amidst COVID-19 outbreak: As your business suffered the Corona virus pandemic, you may find that now it is a perfect time to invest in a new equipment or machinery. Prices on machinery may be discounted or you may be enabling to purchase pre-owned machinery from the businesses that have to stop their operational units due to COVID-19 outbreak. Taking the benefits of machinery loan, you can focus on growing your business and profits during these challenging times.

♦ Fix the machines: Sometimes, you probably already own necessary equipment in business. However, at certain times these tools can break when you least expect it. Securing a machinery loan can help you to get necessary machines fixed so that your business operations can run smoothly. Broken equipment can slow down your production or even halt the sales, which would be risky for your business amidst COVID-19 conditions. Thus, getting a machinery loan as early as possible can ensure that your business get back on track.

♦ Lease the equipment: Many of the business persons do not realize that they don’t have to buy every piece of equipment that is necessary because they have option to lease equipment when they do not have enough money to purchase an item. Always keep in mind that some leasing contracts allow you to update your machinery after certain amount of time which means you might not worry about repairs and other inconveniences.

♦ Increase profits: Having more equipment will allow you to serve even more clients. Even if all your equipment are functional but buying an additional machines could ascend up your income. To illustrate, if you own a restaurant, buying another oven could help you prepare more meals which would enable you to serve more persons at a time. As now restaurants are navigating with COVID-19 conditions, it would allow you to fulfill more takeout orders ultimately increasing your profits.

♦ Replace old machinery: When you Apply For Machinery Loan it can boost your business with the newer and high quality equipment. For instance, if you are in transportation business then buying a new vehicle may help you in business branding to attract more clients in a single time.

To conclude, your small business equipment greatly affects your business operations and production, so it is important to evaluate the state of your machinery periodically and keep it updated for better functioning of your operational unit. Hence, applying for a machinery loan or equipment lease, you can grow or expand your business to the newer heights of success.

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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.