Machinery Loan Myth & Fact

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Information about Machinery Loan Myth & Fact
Entertainment

Published on March 17, 2018

Author: tabcapital

Source: authorstream.com

Slide1: Myths & Facts about Machinery Loan Slide2: Machinery Loan or Machinery Finance is a financial product that is used by MSMEs to purchase new machinery or upgrade old machinery for their production or business expansion needs. There exists many a myth regarding machinery loans that makes people believe that it is something that is difficult to get. Well, it might have been in the past but with rapid technological advancement and growth of FinTech NBFCs (Non-Banking Finance Companies) providing machinery finance, the scenario is quite different now! Machinery Loans are now Faster, Easier and much more Affordable! So it’s time to bust those myths and look at the top 5 machinery loan facts! Here goes… Slide3: Myth & Fact - 1 Best source for Machinery Loan is Traditional Banking Institutes Conventional banks don’t want to loan out smaller amounts of machinery loans to MSMEs Huge amount of paperwork to be done makes the entire process extremely complex and delayed Interest rates at banks are quite high NBFCs are right solution which provide Quick Machinery loan to MSMEs NBFCs willingly provide machinery loans to MSMEs sectors Minimum documentation as basic KYC and bank statement makes process quick and hassle free Much lower interest rates are provided Myth Fact Slide4: Myth & Fact - 2 Machinery Loans need a lot of collaterals That myth is only true for conventional banks who are still plagued with outdated protocols when it comes to loaning money to MSMEs. Machinery loan can be availed without any collateral Machinery loans can be obtained easily without mortgaging your additional assets or business equipment. Collateral Myth Fact Slide5: Myth & Fact - 3 Machinery Loans take long time for approval and disbursal In the case of traditional machinery finance source, MSMEs have to go through the cumbersome paperwork process & long waiting time for verification and approval. Machinery loan is Quick and Hassel Free I n modern FinTech machinery financers, disbursement happens in just 2 working days in fast and hassel free manner just what is required for MSMEs to get their innovative idea up and running. Myth Fact Slide6: Myth & Fact - 4 L ow percentage of the machinery value Machinery loan comes with low percentage of the machinery value Machinery loan go up to 90% of the machinery value Machinery loan amounts even go up to 90% of the machinery value so that entrepreneurs can start off and expand their business quickly and efficiently. % 90% Myth Fact Slide7: Myth & Fact - 5 There are pre-payment charges for loan repayment That is tru e for traditional lending sources. No pre-payment charges for Machinery Loan With FinTech players of the market, there are no pre-payment charges on loan pre-payment at all! Myth Fact Slide8: To know more about Machinery Loan Visit www.tabcapital.co.in

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