Equipment Loan

MCSL provides Equipment Finance facility to individuals, firms and companies for acquiring light, medium and heavy machinery for manufacturing, service and business purposes

Salient features

• Fast turnaround time ensuring quick acquisition of assets
• Finance can be availed for purchasing new/ used/ indigenous/ imported equipments

Documentation

• Last 3 years’ audited financials of the applicant
• Last 3 years’ ITR of the applicant
• Power of attorney executed by the applicant in favour of MCSL to receive the payment directly from the drawee of the bill
• KYC documents of the borrowing entity and all the signatories for the facility
• Last 1 year’s bank statement
• Details of other loans taken from banks/ NBFCs
• Proforma invoice of the equipment to be purchased

FAQ

Q: Which equipments can be financed under this facility?
A: We fund industrial equipment and machinery under the Equipment Finance     facility. The facility is also available for purchasing equipments for construction,     expansion,     technology upgradation, diversification or office automation

Q: Can a Company’s requirement of purchasing used equipment be financed?
A: Used equipment can be financed provided it has been valued by an empanelled     valuer of MCSL

Q: Can a Company’s requirement of importing equipment be financed?
A: We will help you open a Letter of Credit through a designated bank for importing     the equipment. This L/C would be backed by an Equipment Finance facility from     MCSL so that the facility can be used for retiring documents under the L/C

Q: What is the maximum tenure of loan for Equipment Finance?
A: Usually, we provide loans up to 5 years