Getting a loan for a used machinery / equipment that you already possess may seem a bit difficult. Applying for Refinance on existing machinery means applying for funds against the asset that is held in the name of the enterprise/business in question or even the owners/directors of the same. This refinancing loan for equipment is necessary when there is the need for a steady cash flow for catering to new opportunities and also for expansion of the present business operations with a view towards scaling up overall market share and also to penetrate emerging markets.
Equipment refinance is a fast method of raising funds for your business, provided that you have equipment / machinery, which your business owns then your borrowing can be secured against it. You may also use equipment refinance loans for consolidation purposes, i.e. combining all present loan obligations into a single entity where this enables the potential release of extra funds from your present assets too.
The 3 Steps for Refinancing Your Machinery
Do you know that you can easily refinance your machinery in only 3 steps? TAB Capital Limited offers refinancing for your existing machinery / equipment. Loans are provided up to 90% of the value of the machinery at attractive interest rates. There are tenures of repayment up to 5 years while no collateral is required. There are zero charges for pre-payment while higher loan eligibility is available.
You can now apply to get Refinancing on existing Machinery Set Up through the following steps:
- Apply Online through Website by filling up the form provided.
- Scan & upload your documents online in quick time.
- Get Funds within 2 working days after your application and documents are speedily scrutinized and verified
Following these three steps will help you getting refinance on your existing machinery hassle-free, courtesy TAB Capital Limited
Asset finance can play a key role in the overall consideration in a management buyout. It is also imperative that one gets a decent asset finance broker to coordinate the best possible deal. Refinancing of plant and machinery is a very specialist market and it is usually provided by the high street banks and finance companies as they lack a similar level of expertise. There are currently about half a dozen asset-based lenders and they all do things in a slightly different manner. They all have a niche area. Besides, it is possible to refinance existing plants and machinery in order to release cash for any purpose provided there is equity within them. Being a specialist area, funding comes at a premium so one can expect to pay slightly higher interest rates than one would get via the bank. However, with the banks still being difficult when it comes to obtaining funding asset Refinancing On Machine is a viable option for many businesses.
The types of equipment and machinery that are suitable are large chunky items such as printing, packaging, engineering, small plant machinery, and basically any equipment that has a good residual value in the second-hand market. Anything that is bespoke to a business tends to struggle to stack up even though it may have initially cost a considerable amount initially.
About TAB Capital
TAB Capital Limited is a Non-Deposit Taking FinTech NBFC, whose endeavor is to offer a wide spectrum of finance options that ensure state-of-the-art business and allows its clientele to focus on their core priorities. It is known for providing unsecured business and professional loans to a niche market of budding industries, with tailor-made solutions for satisfying their financial requirements. it has emerged to be a preferred choice for business growth due to fast processing, collateral-free loans, zero prepayment charges, flexible EMI, and long repayment tenure.