Business Loan for machinery purchase

The quality of your equipment can make or break your business. While heavy machinery is costly to purchase at the outset, keeping it in top working condition is an associated cost that you need to plan for. You may need to hire skilled servicemen and operators and pay them competitively. In addition, you will need to update, replace, or repair parts from time-to-time. For specialised machinery, each part can cost lakhs of rupees. Why not invest in the latest machinery for your business with a business loan of up to Rs. 80 lakh.

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Modern Equipment

MODERN EQUIPMENT

Purchasing the right equipment for your business’s needs is one of the largest expenses for which you will need capital. While it is possible to lease equipment, rental costs can be significant.

Better Productivity

BETTER PRODUCTIVITY

Streamline production by getting the latest upgrades to your systems and purchase newer, safer parts as and when they become available. Invest in productivity software and help your employees strive for higher goals with the right incentives.

New Technology

NEW TECHNOLOGY

Make space for innovation by keeping up with technological advances in your field. Experiment with new types of equipment to turn out fresh product lines and expand your offers.

Business Expansion

BUSINESS EXPANSION

Capitalise on opportunity by adding new locations to your business. Increase production to keep up with higher market demands by buying or leasing additional equipment on a seasonal basis.

Improved Quality

IMPROVED QUALITY

Invest regularly in R&D to test your product and come up with better versions for your customers. R&D can be expensive, as you may need specialised equipment and additional staff. Fund it easily with a business loan.

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Frequently asked questions

What is a business loan, and how much can one borrow?

A business loan is a financial offering that can help you meet your planned and unplanned business expenses. It is a kind of unsecured financing, and you can avail of one without providing any collateral.

You can get a business loan of up to Rs. 80 lakh from Bajaj Finserv by fulfilling the easy-to-meet eligibility criteria. Once your application is approved, you can get the loan amount in your bank account within 48 hours*.

*Terms and conditions apply

Who can apply for a business loan?

Business entities such as proprietary concerns, partnership firms, private limited companies, self-employed professionals, and self-employed non-professionals can apply for a Bajaj Finserv Business Loan. All applicants are required to fulfil the eligibility criteria and submit their relevant documents.

What is the minimum CIBIL score required for a business loan?

Bajaj Finserv considers a CIBIL score of 685 or above as a good credit score. A strong business turnover and having all your documents in check also reflect positively on your profile.

What can I use a business loan for?

You can use a business loan to manage your venture’s planned and unplanned expenses. From leasing a larger office premise to renovating your workspace, you can use it for various purposes. You can even purchase, lease, or repair machinery or upgrade old technology to bring in a more efficient and smoother way of working. Stocking up inventory, purchasing raw materials in bulk, or expanding your operations are some other end-uses of a business loan.

How can I apply for a business loan?

Applying for a business loan from Bajaj Finserv is easy. Start by clicking on the ‘Apply’ button on this page and open the online application form. Enter your basic details and verify your profile with the OTP that is sent to your phone.

Share the basic details of your business and gather your business documents. A representative from Bajaj Finserv will contact you with the next steps. Once your loan application is approved, you can get money in your account within 48 hours*.

*Terms and conditions apply

What is the minimum business turnover required to qualify for a business loan?

To get a business loan from Bajaj Finserv, you must own a business that has been operational for a minimum of 3 years. You are also required to have filed your income tax returns for at least one year.

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