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Tata Capital > Blog > Equipment Finance > Experience Tata Capital’s Paperless Construction Equipment Financing Loans

Equipment Finance

Experience Tata Capital’s Paperless Construction Equipment Financing Loans

Experience Tata Capital’s Paperless Construction Equipment Financing Loans

Infrastructure businesses always involve a longer gestation time to earn returns on investment. However, to level up your business, you still need to invest in the latest construction and material handling equipment. That is where Tata Capital’s Construction Equipment Financing loans come in. With a deep understanding of the infrastructure business, we have structured our equipment financing and leasing solutions to meet your unique business requirements.

Construction Equipment financing is a loan structured to help infrastructure companies maintain operational efficiencies by purchasing the latest equipment without investing large sums of capital upfront. At Tata Capital, with tie-ups with leading OEMs, we offer up to 90%* financing against a wide range of equipment so that you can stay upgraded and repay flexibly over a longer tenure. Such financing is also beneficial as no additional collateral needs to be provided. The equipment purchased itself serves as collateral for these loans.

Additional Read: Top Trends in Construction Equipment Finance Market

For entry-level customer getting finance involves lot of uncertainty. To eliminate this uncertainty our CEQ Tatkal Loans have made the entire process seamless digitally so that customer and dealer gets to know instant decision on sanction.

Here’s a look at our end-to-end paperless construction equipment financing process:

1. Reach out to your nearest dealer:

The first step is to identify the machine you want to purchase. Being high value capital asset 90 % of purchase happens with the assistance of finance hence Along with decision of machine comes the question of available option of finance. Here dealer has to be dependent on financer and for this they approach financer known to them.  With Tatkal Loan towards dealers has been made self-empowered to gent an instant decision on customer getting the loan or not.

2. Share details to complete the application form:

Once you reach out to a dealership, executive will request you for some details and will fill out the application form on your behalf. The application form will require essential information like your name, age, address, PAN card copy, assets and loan obligation details. Once the necessary information is entered, the dealer will share the pre-filled application form for your acknowledgment and signatures.

3. Consent to run Credit Checks:

By signing the application form, you provide consent to Tata Capital to run credit checks and initiate underwriting process.

4. Receive In-principal Approval:

Within minutes of giving your consent, you will receive an in-principal approval with details on the eligible loan amount and other terms and conditions. If you accept it, the dealer provides you with the in-principal sanction letter instantly.

5. Await final sanction letter:

Once you receive your in-principal sanction letter, you can sit back and let us take care of the rest. Our credit managers promptly review the in-principal sanction letter along with credit documents submitted and release the final sanction letter.

6. Accept the Sanction Letter:

Once the final sanction letter is issued, our representatives will walk you through the approved terms and conditions for the financing. We maintain 100% transparency and highlight changes in clauses, if any, from the in-principal sanction letter. If the terms are suitable, you can accept the sanction letter, and the process is complete.

7. Execute the Agreement:

Upon accepting the sanction letter, the dealer works with the Tata Capital Relationship Manager to get agreement and other post sanction document executed for internally setting up your account. On your request Release order is issued to dealer so that invoicing can be done for your construction equipment.

At Tata Capital, our services do not end there. We make sure you are guided throughout the journey, even after the disbursement. For your loan servicing, you can either reach out to the dealers or log in to the Tata Capital portal with your credentials. You can access all the details you need on loan repayments, due dates, interest paid certificates, and other tax and compliance information at the click of a button. You could also reach out to our representatives in case you need a top-up or a new loan for your business.

Our construction equipment and leasing solutions are structured to ease processes and accelerate the progress of infrastructure players. Reach out to us to apply for a construction equipment financing loan.

Additional Read: Construction Equipment Leasing Vs. Financing: Which One Suits Your Business?

Tata Capital's Digital Construction Equipment Finance

Equipment is core for execution of any Infrastructure projects. Depending upon nature, location and size of project purchase or hire decision is made. For earthmoving asset mainly smaller customer works in hiring segment. In this segment getting fiancne is always a challenge and customer is never sure that how much time it will take to get the approval. 

To eliminate this uncertainty at Tata Capital Financial Service Ltd. Has come up with unique digital solution similar to Auto Loan. Where customer is required to furnish some basic detail to dealer, which will be keyed into digital module and in few minute approval status will be known.

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