It is a type of Business Loan. Entrepreneurs, willing to purchase a new Machine for manufacturing purpose can avail this loan to purchase machinery. The new machinery can be for starting a new business or for expansion of existing business.
Any MSME, willing to buy a new machine must avail this loan so that entrepreneur does not need to invest his own capital at once. Loan can be availed at very low rate of interest which can be easily paid from your monthly turnover. Additionally, subsidy can also be availed only if machinery is purchased on loan.
This is a great tool for it allows the business to increase its overall productivity while retaining its normal operating parameters, which helps them increase productivity and result into higher profit from sale and distribution.
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