Equipment Loan

For purchase of Construction/Earth Mining Equipment of all brands.

Key Features:
For any business to succeed, the availability of funds throughout its life cycle is of paramount importance. We offer a wide range of services for funding of commercial vehicles and construction equipments. The limits are fixed keeping in view the customer’s need for funds against the value of the security, margin available and credit worthiness of the borrower.
At first, the customer requirements are properly understood and documented. After this the customer requirements are matched with company capability and services are offered as per the requirements of the customer within the overall policy framework/procedural guidelines. Creditworthiness of the customer is properly assessed and approval is obtained from the appropriate authority.

Eligibility
You and your guarantor should have a minimum of 2 years experience in construction/relevant field.
The contract against which equipment is to be deployed should be awarded in your name.
If the contract against which the proposed equipment to be deployed is a subcontract the main contract should guarantee the proposal
Estimated gross receipts from contracts on hand should be at least 2.5 times the finance amount.
The tenor of the contract against which the equipment to be deployed should be co-terminus with our Hire Purchase contract term. Else you have to provide proof of alternate contracts held/possibility of new contracts.

Purpose:
For purchase of Construction/Earth Mining Equipment of all brands.

Documentations.
Proof of residence - Ration card or Passport copy or Voter's ID.
Contract copies of contracts executed, on hand and full details of cost against which this equipment is to be deployed.
Statement of earlier loans taken
Copy of property deed for immovable property owned
RC book photocopies for vehicles owned and details/proof of other machinery already owned.
Copy of Income Tax and Wealth Tax returns for past two years.
Details of guarantor - his business, net worth, IT returns & Wealth Tax term copies.

For Partnership Firms
Partnership deed and authorization letter for partnership firms.
Profit and Loss account and Balance Sheet for past 2 years.
Registration Certificate of Partnership Firms
Contract copies for special purpose vehicles/ vehicles deployed against specific contracts
Statement of earlier loans taken 
Copy of property deed for immovable property owned
RC book photocopies for vehicles owned
Details of your guarantor - his business, net worth, IT returns & Wealth Tax term copies. 

Terms/conditions:
Same as eligibility criteria

Interest rates and charges:

Refer Schedule of charges for details 

 

 

OUR PREFFERED LOAN PARTNERS:





UGMONEY
Customer Care +91-9711152918/9811152918
About us | Balance Transfer-Topup Loan | Bank Partners | Contact Us | Insurance| Car Insurance| Life Insurance | Privacy Policy | Terms of use |