Category Archives: Machinery Loan

small business loan

5 Goals to Achieve with a Small Business Loan

Business problems are inherent in every business journey – 8 out of 10 problems are said to have stemmed from the lack of finances in the business structure. However, with the emergence of digital lenders such as TAB Capital, small businesses are turning to unsecured business loan for financial support, in times of severe cash crunch.

A small business loan not only helps you fix the financial stability of your business, but also backs your capability to resolve other business issues. The money borrowed for a business purpose through a small business loan has no restrictions in terms of usability, as long as it caters to your business purposes ONLY. So, to shoot up your business growth to newer levels of success, it is extremely crucial to chalk out a strategic plan before putting the money at work.

Let us look at the top 5 goals you can achieve with your small business loans.

  • Purchasing Equipment – The right equipment can help you stay prone to business downturns. Along with improving your business efficiency and ability to innovate, it also helps you escalate production cycles. Unlike large scale business setups, small businesses face severe challenges when it comes to purchasing machinery for upgrading business performance.  But the good news is that small business loans, specifically targeted at SME and MSME needs, are emerging as the best financing option for small businesses in unfavorable situations.
  • Business Expansion – Business expansion is a crucial benchmark to achieve, especially when you are still finding your ground to make a mark in the market. Hasty decisions to scale up operations typically backfire! So, before you start crossing the line to make new amends in your business setup, make sure you have a sturdy plan of action in hand. You can go ahead with a small business loan thereafter. It might just turn around the financial future of your company!
  • Inventory – If your business is faltering in terms of turnaround and output, it is time to invest in good inventory. There is no alternative to purchasing adequate inventory so as to push sales and business growth. So, if you are looking to scale up your business operations, inventory is the primary asset that you should invest in before anything else.
  • Operational costs – If you think that your business is prone to facing a sudden turn down due to lack of operational efficiency, you may consider taking a small business loan right at the moment. From paying electricity bills to employees’ salaries, a small business loan can help you resolve all these issues.
  • Grab new business opportunities – Opportunities always do not come knocking at your door. But when they do, make sure you do not miss out on them. Say you’ve cracked a deal that can create a big difference for your company in the long run. But you are falling short of the right amount of inventory and equipment. Would you be willing to give up on a golden chance? Opting for a small business loan and accomplishing all your targets would mean a lot more than regretting over a ship that has already sailed! Right?

No matter what, money should always be handled carefully. Only then, can it bring back greater returns to you in the long run.  So, plan your approach as per your business interests and never go overboard.

TAB Capital offers customer-friendly Online Business Loan to small businesses without any collateral. With TAB Capital’s revolutionized digital lending system, you can apply for an unsecured business loan from the comfort of your home, and enjoy optimum benefits of attractive interest rates, maximum loan amount, flexible repayment tenure and superfast loan disbursal!

To apply for an unsecured business loan with TAB Capital, Click below on Apply online.

Safe Online Business Loan

How safe are online business loans?

If you are a small business owner, and are willing to scale up your business operations in forthcoming days, you must evaluate the various commercial or financing options available in the market. You might be in need for contingency funds when your business is going through a lean period, or when your business growth needs a financial boost to shoot up operations in the long run. However, when it comes to loaning money from external sources, SMEs and MSMEs are left with very less choices. The historical past has witnessed small business loans being turned down on their loan requests due to the stringent loan approval benchmarks set by banks. Nonetheless, thanks to the advent of digital lending! Today, small businesses have an alternative to borrow online business loans which are more convenient and quicker in comparison to the traditional lending system. Small business loans sanctioned digitally can serve immediate business needs. However, it is very important to ascertain a lender’s reliability before proceeding with business terms. Identity thefts and cyber–crimes have shot up risk and non-compliance levels, causing victims to lose money in crores each year! SMEs and MSMEs are the major targets of scammers, forgers and fraudsters; hence, entrusting your business’s identity in safe hands is crucial. The good news, however, is that advanced FinTech has leveraged safer online lending, and made transactional proceedings a lot seamless.

Let’s look at some of the basic facts about legitimate online lending which can keep your business credibility far from the reach of scammers.

How to Identify Fraudsters?

Most prevalently, fraudsters spot business owners through unsolicited emails or text messages, and malware ads that pop up on a web page. People tend to fall prey to ‘lucrative’ scams because they are duped with things that are too good to be true. So, understanding the common red flags before applying for an online business loan from a lender is pivotal, to keep your interests safe.

  • Lender asks for upfront fees – If a lender asks for upfront fees as a registration credit fee or a down payment from you before approving your loan, walk away immediately. Lenders shall only charge you a loan fee when the loan is approved, and nothing beyond that!
  • Lender has no physical address – Even if you deal with a lender online, you must do a due diligence of the lender’s physical address. If there is a gap in here, you must understand that the lender’s business has no legitimacy.
  • Lender offers cash advance loans – If there are no applications to be filled in or no credit checks to be conducted, yet there is a complete cash advance loan being offered, the matter is quite fishy! The scam is only set up to extract your personal information.

How to Identify a Legitimate Lender?

Here are some of the facts you should look for in an online business loan lender.

  • Strong Encryption and Security Protocols – A legitimate lender takes care of his business protocols. A reliable lender has a legitimate _”https”_ website which protects your personal information on both ends through Transport Layer Protocol.
  • No Complaints – A good online lender does not have too many bad reviews in the Better Business Bureau (BBB) records.
  • An Informative Website – A legitimate lender’s business has a strong background in the past, and his website does not mask information on the company’s front.

Who are Platform Lenders?

Platform lenders are the best companion of small business owners. They do not evaluate a business’s credibility through the business’s credit score only, rather focus on various other flexible and data-driven creditworthiness of a borrower. Online sales receipts are one of the instruments to assess a borrower’s credibility to repay an unsecured business loan. Fintech lenders also offers collateral free Business Loans with attractive interest rate and long repayment tenure, alongside breaking stereotypes of the traditional lending system. In a nutshell, digital lenders are often capable of filling up the essential gaps between businesses and estimated business growths.

TAB Capital’s Digital Lending Platform offers small business loans that are a one-click solution to all your quick business requirements. A 100% legitimate lender as TAB Capital can resolve your business issues with an optimum financial boost and lucrative offers. Apply for your unsecured online business loan Click Here.

Machinary Loan TAB Capital Ltd

5 Machinery Loan Myths and Facts that you need to know right now!

Being the world’s 3rd largest startup ecosystem, India is riding the crest of the entrepreneurship wave and driving this growth is the MSME sector (Micro, Small and Medium Enterprise Sector). Most of these businesses, of course, need some sort of machinery in their operations, be it for manufacturing or otherwise, and hence the need for machinery loan or in other words, machinery finance is of utmost importance for this sector.

What is a Machinery Loan?

Machinery Loan or Machinery Finance is a financial product that is used by MSMEs to purchase new machinery or upgrade old machinery for their production or business expansion needs.

Machinery Finance – The Myths and Facts

There exists many a myth regarding Machinery Loans that makes people believe that it is something that is difficult to get. Well, it might have been in the past but with rapid technological advancement and growth of FinTech NBFCs (Non-Banking Finance Companies) providing machinery finance, the scenario is quite different now! Machinery Loans are now Faster, Easier and much more Affordable!

So it’s time to bust those myths and look at the top 5 machinery loan facts! Here goes…

Myth 1: The best source to obtain a machinery loan is from a Traditional Banking Institutes.

Fact 1: This is a big myth. Firstly conventional banks do not want to loan out smaller amounts of machinery loans to MSMEs. Secondly, the sheer amount of documents required, many MSMEs are not able to provide and the huge amount of paperwork to be done makes the entire process extremely complex and delayed. Thirdly, the interest rates at banks are quite high which does not work for MSMEs. Hence from no angle is a bank well suited for an MSME to take a machinery loan from! NBFCs like TAB Capital which provide quick machinery finance on the basis of KYC, bank statements, etc without any collaterals and at a much lower interest rates are much better for MSMEs.

Myth 2: Machinery Loans need a lot of collaterals.

Fact 2: Big myth! If you are opting for machinery finance through a modern FinTech NBFC, you need not to provide any collateral. That myth is only true for conventional banks who are still plagued with outdated protocols when it comes to loaning money. Now Machinery loans can be obtained easily without mortgaging your additional assets or business equipment.

Myth 3: Machinery Loans take long time for approval and disbursal.

Fact 3: Again, not true at all! It might be the case in the traditional machinery finance sources but in modern FinTech machinery financers, disbursement happens in just 2 working days! No cumbersome paperwork process, no long waiting time for verification and approval, just what is required for MSMEs to get their innovative idea up and running in no time!

Myth 4: Machinery Loan amount is a low percentage of the machinery value.

Fact 4: Machinery loan amounts even go up to 90% of the machinery value so that entrepreneurs can start off and expand their business quickly and efficiently.

Myth 5: There are pre-payment charges for loan repayment.

Fact 5: Lender can repay machinery loans with their surplus whenever he/she wants. With FinTech players of the market such as TAB Capital, there are no pre-payment charges on loan pre-payment at all!

Apply for a TAB Capital Affordable, Faster and Easier Machinery Loan in 2 days.

checklist-for-machinery-loan

Things you should know before applying for a Machinery Loan

The inception of a business harps on a vision that reaps productive outputs alongside uniformity in revenue generation. However, to sustain and grow, sometimes external funding becomes a mandate for SMEs. Utilization of the right machinery in a business setup can actually help employees to automate their tasks, which in turn helps them to accomplish more in less time. Well-maintained machinery also retains a uniform productivity in the work environment, thereby increasing the effectiveness of human resources. So, to pick a faster pace in achieving business goals, you might consider availing a Machinery Loan and give a head start to your dream.

However, there are a few prerequisites that you must cater to before applying for a machinery loan. Let’s discuss.

  • Identify your business needs – You must be well-informed about your exact business requirements. If you have an existing setup of machinery, you must first check its output capacity and gauge the right amount of upgrade that it needs. Only then, you’d be able to assess its up-gradation costing. If you are willing to purchase machinery for your new business setup, you might as well do an exhaustive research on the right kind of equipment that will generate maximum productivity. Once you have identified that, avail a Machinery Loan.
  • Chalk out the space requirements – If you avail an equipment loan to purchase or lease machinery, you must be very sure about the space requirements that it demands. A hasty planning could lead to decreased productivity and a business downfall. It is advisable to prepare a blueprint for where you will place the new machinery. Do not compromise on the proper allocation of space at any cost.
  • Understand your machinery requirement – Once you have decided on the type of machinery that suits your business the best, take a call on the state and kind of the same. Used machinery could be a viable option for you if it has been maintained properly in the past. It would not cost you a lump sum. However, if you want to install machines that shall run for years smoothly, you must opt for new machinery.
  • Plan your machinery financing – You can avail a machinery loan under two options, where the lender offers you the loan at a standard term or a business line of credit. If you are sure about the cost of machinery, go for a standard loan. A standard term loan would be divided into equal EMIs that you can repay over specific tenure.
  • Calculate your EMIs – You must understand the rate of interest and plan your EMIs accordingly.
  • Choose your repayment tenure wisely – Get a machinery loan that allows you to repay the loan amount at a longer tenure.

A Machinery Loan, lent by TAB Capital, an online lending FinTech NBFC, is a specialized loan for MSMEs, which can help you purchase the right equipment for your enterprise. Now that you have reviewed our checklist thoroughly, you may apply for a machinery loan in no time!

machinery loan

How to refinance your machinery in just 3 steps

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:

  1. Apply Online through Website by filling up the form provided.
  2. Scan & upload your documents online in quick time.
  3. 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

About Refinancing

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.

5 Things about Machinery Loan

5 Things You Should Know About Machinery Loan

What comes to your mind when you think of a machinery loan? The name of this loan is pretty indicative about what it really means, i.e. it is a machinery purchases loan for businesses, MSMEs and other manufacturing/services companies. A machinery purchase loan is basically called a machinery loan in contemporary financial parlance. It has to be admitted, however, that machinery loans are key elements for future growth as far as almost any manufacturing or other business is concerned, i.e. any company wherever there is a need for equipment/machinery for operations, production and so on.

Why is a machinery loan so important for any production based organization? This is basically because machinery is the lifeblood of these businesses and to churn out products faster and better, new equipment has to be purchased continually in tandem with upgradation of old machinery and tools to newer ones for ramping up overall productivity and output. Every organization engaged in manufacturing or even in some particular service sectors, requires a loan for machinery purchases. These loans help these companies buy all the equipment they require without having to expend a huge amount of money in one go. They can simply scale up faster with better machinery and repay the loans within the prefixed tenure while boosting their business activities and subsequently turnover alike.

Now, if you want a machinery loan in Pune, Bangalore & Chennai for your business, you will have several kinds of options to choose from. There are dedicated machinery loans for MSMEs that are tailored to offer greater convenience and faster business growth. Machinery loans here are suited for micro, small and medium manufacturing units alike in almost any stage of their lifecycle. Finance and refinance are provided to new and used machinery depending on your requirements.

Here are the 5 Things that you should know about machinery loans-

  1. No Collateral/No security deposit is often the norm for customers applying for machinery loans. This gives rise to greater peace of mind and keeps one free from the hassles of having to mortgage any asset.
  2. Repayment Tenure up to 7 years- For facilitating greater convenience and flexibility for entrepreneurs and MSMEs, repayment tenure up to 7 years can be selected in order to make cash flow smoother.
  3. Loan Amounts Are Offered Up to 90% of Machinery/Equipment Value- In order to help MSMEs and entrepreneurs scale up faster with the latest equipment, loan amounts up to 90% of machinery/equipment value are offered in many cases.
  4. Zero Pre-Payment Charges- You will not have to encounter hefty pre-payment charges when you pay off your loan with any surplus funds. This also ensures maximum convenience for business borrowers. However, this depends from one organization to another.
  5. Swift Fund Disbursal- Post verification, disbursal of funds is made in quicker time as compared to other loans in order to give businesses and MSMEs fast access to much needed capital for buying machinery and scaling up operations.

TAB Capital, a digital lending FinTech NBFC offers the finance solutions that specially cater to any MSME’s financial need. You can check out machinery loan offered by TAB Capital for MSMEs which offer a truckload of benefits along with instant approval & smooth disbursal.

How a Machinery Loan benefits you to grow your Business

How a Machinery Loan benefits you to grow your Business?

SMEs and the MSMEs are being considered as the strong pillars of a developing economy. In short, these ventures are not only proving their worth for the firm and its associates but are also being reckoned as an asset by the country. In such a scenario, digital lending platform has come up with various facilities for this sector through their distinct offerings. Following discussion finds an overview of the different advantages that take over with a machinery loan from a well-established Digital lending platform.

Machinery Purchase Loan – Easy & Secure

A range of SME and MSME businesses are reaping the benefits of modern technology and equipment. These advancements typically club the mechanical with the electronics and have played a phenomenal role in changing the face of various kinds of industries and production houses. Most of the sectors like the construction, manufacturing, packaging and others depend on suitable machinery which helps them carry out their operations efficiently in a sophisticated environment. However, the initial purchase costs of certain equipment can be huge when considered with an investment point of view. And, a smart business manager now understands the value of letting in finance wherever feasible as this lends him freedom to use his funds more innovatively.

Businesses are always dealing with the issue of equipment purchase and upgradations. As the technology progresses, a new equipment with new appealing features is always on the block and is a preferred choice over the older versions. In such a situation, a standard loan can come in handy. But, what if a customized version of the same is available, which typically ensures distinct benefits for such a purchase.

Digital Lending Non-Banking Finance Company: An Upcoming Platform

Online lending solutions are a ready answer when considering machinery or equipment purchase for business expansion and growth. As already mentioned, these offer financial products that are customized for such a task and thus come with several convenient and lucrative features.

Using digital lending platform, anyone can apply for a Machinery Loan from any place, considering you have a computer or any mobile device with internet connection. The online application procedure is very simple & secure, takes mere 10-15 minutes of your time. You just need to follow two easy steps to avail a loan, first fill out the online application form & upload the necessary documents.

The basic objective of such a financial institute is to help the businesses reach their potential in a shorter time interval and a better manner. Thus, the purchase is the new dictum, rather than rent or lease. With lending companies acting as business partners, things have become rather hassle-free. A loan can range up to the 90% of the purchase value of the equipment along with several benefits like an appealing rate of interest and longer repayment tenures. In addition to this, other convenient features include minimum documentation and fast processing without the usual struggles of collateral security and pre-payment charges.

For other types of loans, you might need to provide collateral security but for machinery loan, the collateral security feature is fulfilled by the machinery itself. The machinery & its ownership remains with the customer only; the original documents (Invoice) of the machinery is held as a security. On the full repayment of a loan, all the original documents will be returned to you.

TAB Capital Ltd. is a prolific digital lending FinTech NBFC with different financial products to support the current SME and MSME sector. The company helps on supplying varied types of financial assistances like Machinery loan, business loan, Merchant Cash advance and other useful financial products along with swift, hassle-free and efficient execution. The company offers a robust machinery purchase loan with a range of advantageous features.

Apply Online at www.tabcapital.co.in to get a loan for your next machinery purchase!