Fuel Your Business Expansion with Industrial Loans
Industrial loans provide businesses with the financial support needed to set up new industrial units, expand operations, purchase machinery, or modernize existing facilities. At Mera Loan Doctor, we help businesses access Industrial Loans with attractive interest rates, flexible repayment options, and quick approvals to boost productivity and growth.
Features of Industrial Loan
- Loan available for setting up new industrial units or expanding existing ones.
- Financing for purchase of machinery, plant, equipment, and infrastructure.
- Flexible repayment tenure based on project requirements.
- Competitive interest rates tailored for industries and business needs.
- Option to avail working capital along with term loans for operational efficiency.
Eligibility
- Proprietors, partnership firms, LLPs, private limited companies, and corporates.
- Minimum business vintage of 2–3 years (varies by lender).
- Good credit score and repayment history.
- Detailed project plan and cost estimates for new or expansion projects.
- Compliance with government regulations and statutory approvals.
Documents required to apply
- KYC Documents: PAN Card, Aadhaar Card, Address Proof.
- Business proof: GST registration, company registration, partnership deed.
- Financial statements: Last 2–3 years balance sheets and profit & loss statements.
- Bank statements for last 6–12 months.
- Project documents: Cost estimates, quotations for machinery, approvals/licenses.
- Any additional documents as requested by the lender.
Fees and Charges
- Processing Fee: 0.5% – 2% of the sanctioned loan amount.
- Interest Rate: Competitive, depends on borrower profile and project viability.
- Prepayment/Foreclosure Charges: As per lender policy.
- Other charges: Legal, valuation, and statutory taxes (if applicable).
Faq's for Loan Top up
What can an industrial loan be used for?
For setting up new units, expanding operations, purchasing machinery, or modernizing facilities.
Can startups apply for industrial loans?
Typically, lenders require a minimum business vintage of 2–3 years, though some schemes support new ventures.
What is the repayment tenure for industrial loans?
Usually ranges from 5–15 years depending on project type and lender policy.
Are collateral or securities required?
Most industrial loans are secured against assets, land, or machinery, though unsecured options exist for smaller amounts.
How is the loan amount sanctioned?
Based on the project cost, financial strength, repayment capacity, and lender assessment.