Construction Equipment Financing with LoanPe
LoanPe provides tailored construction equipment financing for businesses in the construction industry, making it easier to acquire essential machinery like cranes, loaders, excavators, and more without a heavy upfront cost. Our financing solutions allow you to manage cash flow effectively while investing in the equipment your business needs.
Key Benefits of Construction Equipment Financing with LoanPe
- High Loan Amounts: Finance up to 90% of the equipment cost through LoanPe, minimizing the need for upfront capital.
- Flexible Repayment: Choose from repayment tenures ranging from 12 months to 60 months, allowing you to align payments with your business’s cash flow.
- Competitive Interest Rates: LoanPe offers lower interest rates as the equipment serves as collateral.
- Transparent Fees: Enjoy transparent processing fees, typically 1% to 2% of the loan amount.
- Tax Advantages: Benefit from tax deductions on both interest paid and depreciation on your equipment under applicable tax laws.
Features of LoanPe’s Construction Equipment Financing
- Loan Tenure: Flexible repayment options, with terms ranging from 1 to 5 years tailored to your needs.
- Collateral: The purchased equipment acts as collateral, so no additional security is required.
- Fast Disbursement: LoanPe ensures quick loan processing and disbursement, so you can acquire the equipment promptly and keep your projects running smoothly.
- Loan Amount: Finance up to 90% of the equipment cost, based on your business’s creditworthiness and the equipment’s value.
Eligibility Criteria for LoanPe’s Construction Equipment Financing
- Business Vintage: Your business should be operational for at least 3 years to qualify.
- Turnover Requirement: Your business must meet LoanPe‘s minimum turnover requirement.
Creditworthiness: A good credit score is essential for approval
Documents Required to Apply for Construction Equipment Financing with LoanPe
- Business Registration Proof: GST certificate or company incorporation documents.
- Financial Statements: Submit your recent balance sheets and IT returns.
- Equipment Quotations: Provide quotes or proforma invoices from the equipment supplier.
- Owner’s Identity Proof: Aadhar card, PAN card, or other valid identification documents.
Fees & Charges
- Processing Fees: A nominal fee of 1% to 2% of the loan amount is charged by LoanPe.
- Prepayment Penalties: Based on LoanPe‘s terms, prepayment may be free or involve minimal charges.
- Late Payment Penalties: Fees are applicable on delayed EMI payments.
What equipment can I finance with LoanPe?
You can finance various construction equipment such as excavators, cranes, bulldozers, loaders, and more.
Can I claim tax benefits on this loan from LoanPe?
Yes, LoanPe‘s construction equipment loans allow you to claim deductions on both the interest paid and the depreciation of the equipment.
What is the maximum loan limit with LoanPe?
Yes, LoanPe‘s construction equipment loans allow you to claim deductions on both the interest paid and the depreciation of the equipment.
How soon can I receive the funds from LoanPe?
Once the required documents are submitted and verified, LoanPe offers fast approval and disbursement to ensure minimal delays in your equipment acquisition.
