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Construction loans are generally required at the commencement of a project and impact the eventual success or failure. In absence of cash inflow (which is quite common with constructors), availing a loan for construction equipment is the most logical solution. Understanding the needs of the construction industry, we have tied up with banks and other financiers specialising in the loan category. Thus, we enable you to avail, use and repay the loan in a flexible manner. Here is the process that we follow:
You can specify your requirements online or talk to our executives for loan application help
Our financial experts screen through the documents for lending purposes and verify them
The amount disbursed is transferred directly in your account within 2-3 working days
Whether you are purchasing or leasing new equipment of used ones, we can facilitate your loan request. For old equipment, the interest rates and payment terms will vary, depending on depreciation.
The loan for construction equipment can be used for purchasing a wide variety of tools. FMC syndicate partners provide financing for purchasing machines of myriad brands like JCB, L&T, Volvo, Escorts, Hyundai and Caterpillar.
Construction equipment loan has few criteria that need to be fulfilled. Small and medium businesses, construction companies, miners or contractors benefit from such loans.
Construction equipment loan has repayment duration of up to 5 years. Hence, it covers the time frame during which the loaned machinery would be used in any project. You can easily schedule EMIs as per convenience.
A borrower just needs to submit basic documents for getting his loan facilitated. Proof of identity and address, project details for which the equipment are needed and bank statements are required.
The interest rates are quite low and generally vary between 10% and 14% pa. Moreover, if a firm is able to repay the loan before the stipulated tenure, they can avail even lower interest rates.
Equipment loan availed through us has proven instrumental in supporting over 400+ construction projects till date. Our syndicated loans offer the following advantages:
Borrowers have the freedom to choose the period of repayment, as we facilitate customised loans with flexible EMIs.
We negotiate with financers for loan for covering the entire cost of the machinery for our clients. Hence, you do not need to block your funds.
Construction projects in any part of India are eligible for equipment loans through FFMC - A Unit of MK Consulting
The consultants at FFMC - A Unit of MK Consulting help entrepreneurs and contractors choose the correct equipment loan as per their project timing
Since equipment loans are required by people in several fields of work, the eligibility criteria requires attention. A number of small enterprises, as well as established construction companies have availed our loan syndication facilities.
Any corporate entity, including limited liability firms, sole proprietorships, public limited companies or partnership firms A construction company engaged in projects requiring heavy equipment Contractors who are working on a project for a limited time and need funds Mining companies with full time or contractual need for equipment Business owners with over two years of working records Enterprises that generate revenues and have earned profits in at least the past six monthsA variety of equipment are covered by equipment loan. Some of them are pavers, drills, compactors, RMC plants, road rollers, piling rigs, dumpers, transit mixers, concrete pumps, WMM plants, forklifts, excavators and cranes of all types. All international brands like Terex, Greaves, Komatsu, Volvo, JCB, Apollo, Atlas Copco, Case, etc. can be financed through us.
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