Machinery loan without Security in India – All you need to know about it
Machinery & equipment are one of the most important assets for any business, as it determines the quantum of goods & services that can be delivered. T of the business is highly dependent on the quality of machines used in the production. Better the quality, lower will be the cost of production and higher will be the profitability of the business. Constant upgradation of these machines with higher standards and quality is important, as outdated machines tend to increase overhead costs, consume higher machine time and labor hours. However, purchasing new machines requires heavy capital investment & extra collateral. Hence most of the small and medium businesses, especially MSME, find it difficult to purchase new machines with the latest technology to compete in the market. In such a scenario, unsecured machinery loan offered by banks and NBFCs plays a vital role for such businesses. In India, machinery finance is offered by many private banks and non-banking finance instit