Commercial Construction Equipment Financing & Loan

Running a construction company is no easy task. Your scope of work is extensive, from planning projects to procuring the right materials to executing the construction. And just as you offer a range of services to your customers, HDFC Bank MyBusiness extends a range of financial services to you. 

HDFC Bank provides funding for purchasing a range of construction equipment; earthmovers, compactors, loaders, concrete and material processing machines, and others. With our Commercial Construction Equipment Finance, get the advantage of choosing the type of loan that best suits your business need and at the best interest rate.

As a business owner of a construction-based venture, you must pay attention to the equipment used. Using the right machinery and equipment can make the job easier for your staff, improve efficiency, and speed up project completion. However, purchasing equipment and machinery can require extensive amounts of capital. To that end, you can rely on the Construction Equipment Finance offered at HDFC Bank.

You can avail of loan for New,Used & Refinance on Existing Construction Equipment at HDFC Bank to finance the purchase of a wide range of equipment required for your construction business. With the loans offered at HDFC Bank, you can procure equipment at attractive interest rates. HDFC Bank also offers high-value loan amounts that could cover the entire cost of purchase.

Fulfil basic eligibility criteria and submit the application form along with minimal documentation to apply for the loan. Your loan application will be processed quickly, and if approved, the funds will be disbursed rapidly. You can even apply for the loans online at your convenience. With flexible tenures and easy repayment options, the loans offered by HDFC Bank for new businesses have your entrepreneurial needs covered.

Apply for the HDFC Bank Construction Equipment Finance today and obtain the machinery needed to run your business seamlessly!

FAQ's

Q1. What is the tenure for the Commercial Construction Equipment Finance?

The repayment tenure generally varies from 2 years to 5 years depending on the lender and loan amount. Approval of the loan will entirely depend on the age of your business, turnover, and credit profile.

Q2. What is Construction Equipment Loan and how does it work?

A Construction Equipment Loan is a credit facility that helps you borrow funds to buy, repair or upgrade all types of construction equipment. It is a type of Business Loan that enables you to improve your productivity and efficiency without compromising your working capital.

Q3. Which construction equipments are funded under this program?

Construction equipment can be majorly bifurcated in 4 main categories:

1. Earthmoving equipments: All types of backhoe loader – JCB, excavator – Poclain / TATA Hitachi, loaders, dozers etc.
   
2. Concrete equipments: Batching plants, concrete mixers, boom pump etc
   
3. Road equipments: Road rollers, compactors, pavers, crushers etc.
   
4. Material handling: Imported cranes, hydra cranes, forklifts, reach stackers etc

Q4. What are the facilities offered in equipment financing?

Apart from Construction Equipment Finance, we offer Letter of Credit for procurement, Working Capital, Bank Guarantee for tendering for product purchase.

Q5. How much finance can I avail of?

You can borrow up to 90% (Depends on customer profile) of your equipment cost, based on your loan eligibility.

Q6. What are the tenure options?

Up to 48 to 72 months (Depends on customer profile)

Q7. How long will it take to process the loan?

Loans are processed within 7 working days of completing the documentation.

Q8. Do I have the option of pre-paying the entire loan amount?

Yes. One can pre-pay the loan at any time after 6 months of availing of the loan. Foreclosure charges would be applicable.

Q9. What are the stages involved in availing a loan?

The stages involved are:

· Application

· Processing

· Documentation

· Sanctioning of the loan

· Disbursement

Q10. If I am not able to furnish financial documents, is there a special scheme for me?

Yes, please contact our sales representative for further details.