Get Machinery Loan Without Security in India from Lendingkart

1. 4 Easy Steps to Get Machinery Loan without Security in India Lendingkart.cominfo@lendingkart.com 0124-3864889

2. A small business owner in need for business finance has to go through a lot of hassle in India. Traditional lenders are slow and set in their age-old ways of approving business loans, which can be detrimental for modern businesses who need to move quickly to occupy critical market space. There are several ways quick business finance can benefit an SME, one of them being plant and machinery acquisition. Equipment is a critical part of operations for a small business because the production of goods and services directly depends on it. Timely upgrade and maintenance of business equipment ensure that a business stays competitive and profitable. However, equipment finance is as difficult to finance as a small business loan. A lender will usually ask to submit the new equipment as collateral for granting the loan. Getting a machinery loan without security in India: If you are shopping for machinery loans that do not require collateral, there are very few lenders who can offer you that service in India. The reason being, the Indian banking sector is suffering from an unprecedented NPA crisis, which has made lenders reluctant to finance SMEs without proper collateral. But NBFC lenders like Lendingkart Finance do offer unsecured loans for purchasing plant and machinery if you satisfy their eligibility requirements. Here is how you can get a machinery loan without collateral from Lendingkart. Step 1: Check your eligibility Lendingkart.cominfo@lendingkart.com 0124-3864889

3. Lendingkart’s website allows you to check your eligibility for a business loan for buying machinery. Simply complete the sign-up process and enter some basic details about your business. You will be offered a loan quote based on the age and type of your business and your sales/earnings. Step 2: Accept the quote Once you choose to accept the loan quote, you can move on to provide additional details about your business and upload your documents. The whole process is online and you only need to upload digital copies of the documents for verification. Step 3: Wait for verification You can monitor the progress of your loan through the Lendingkart account. It allows you to get real-time updates on your loan application. Additionally, you can also download the Lendingkart Mobile App for Android smartphones to monitor account activity without having to log in every time. Step 4: Get your loan for machinery Lendingkart promises business loans within 3-days of loan application. Since the whole process is online there is no possibility of manual interruptions in the approval, verification and disbursal process. The loan amount is directly credited into your business account, so there is no hassle of depositing demand-drafts in the bank, which is the case with most bank loans. Details of business loans from Lendingkart: Business loan amount: The ticket size for Lendingkart’s machinery loan is ₹ 50,000 to ₹ 1 crore. Flexible repayment: The minimum loan tenure is 1-month and the maximum loan tenure is 12- month for Lendingkart machinery loans. Lowest interest rates: Lendingkart relies on business analytics for deciding interest rates of business loan, so you get the best rates for your machinery loans. Lendingkart.cominfo@lendingkart.com 0124-3864889

4. Zero prepayment charges: If you decide to repay your loan early, you can do so after paying the first EMI without any foreclosure charges. How a machinery loan without security can help your business? Increased Production: With access to the latest technology your business can enjoy higher production in lesser time. Higher Quality Product: Use of newer technologies also increases the quality of your product, thus, helping in customer acquisition. Enhanced Profits: Technology also reduces your production costs and allows you to improve margins on the products and services you sell. Faster Turnaround Time: With new machinery, you can process raw materials into finished goods faster. Thus, speeding up your sales cycle. Lower Defects: Goods manufactured using the latest machinery also have lower failure rates and hence help in creating goodwill for your company. Ready to apply for a business loan? Visit the Lendingkart website to start the application process for your first machinery loan. Quick Business Loan – Lendingkart App Lendingkart also has its own Android and iOS business loan app. You can simply download it on your smartphone and apply for a loan within minutes. The app also lets you keep track of your loan's repayment and EMI due dates. Lendingkart.cominfo@lendingkart.com 0124-3864889

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6. So, digitise your business today and avail all the benefits that come with it. To know more about Lendingkart interest rates and business loans, click here. Lendingkart.cominfo@lendingkart.com 0124-3864889

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