Chola Equipment Finance, we are committed to understanding the unique needs of your business and providing tailored financial solutions that fuel your ambitions. Whether you are a small enterprise or a large corporation, our goal is to empower you with the financial tools necessary to acquire, upgrade, or expand your equipment infrastructure.
Finance to MSMEs for their capex needs / Purchase of Equipments
Equipment based finance – Primary collateral of equipment
Funding to Start-up segment - based on equipment cash flows
Printing – Pre Press/ Press & Post Press – Both Digital & Offset and latest technologies
Medical Equipment – for professionals from Medical field – for Medical Centers / Hospitals / Diagnostic Centers / R & D Centers / Education & Research Institutes
Features & Benefits
Loan against hypothecation
Convenient repayment options
Floating Rate of Interest
Quick Financial Support
Frequently Asked Questions
What is an SME Loan?
SME Loan is a type of business loan offered to small and mid-size businesses to grow and expand their business. These loans can be short term or for a long term.
Who is eligible for an SME loan?
Chola gives SME loans to retail and wholesalers, manufacturers, stockists and distributors, service providers, Private LTD, Partnership or Proprietorship Company, etc.
What are SME loans used for?
SME Loans are used for working capital needs, business expansion, procuring new machinery and equipment, infrastructure development. Etc.
What is the loan amount Chola offers?
Chola offers SME loans ranging from 10 lakhs up to 5 crores.
What is the loan tenure for SME loans?
Filled loan application form
KYC documents of the company-(PAN Card, Registration of Incorporation, Partnership deed, Memorandum & Articles of Association)
KYC documents of the business owners
Balance sheet and Profit & Loss accounts for the last two years
Income Tax Returns for the last two years
Company bank statements for the last six months
GST returns for the last 6 months
Is external guarantor needed to get a loan?
No external guarantor is required.
What is the security or collateral that I have to provide to get a loan?
Acceptable Collateral is Commercial Property, Residential Property, Industrial / Factory Land and Building.
Is the interest rate fixed or floating?
Both are available.
How much EMI should I pay?
EMI depends on the loan amount and tenure. Please check out our EMI calculator.
Is there any age limit to get a SME loan?
You must be between 25-65 years of age and have business that shows a profit for the last three consecutive financial years.
What are the modes of repayment?
You can pay through Post Dated Cheques, Electronic Clearance Service (ECS) or Direct Debit.
What are the ways to apply for a SME loan?
- You can apply online at www.cholamandalam.com by filling our online loan application form
- You can download our mobile app on playstore and apply for a loan
- Our Chola staff will come to your doorstep to service you. Just give a call to customer care number 1800 102 4565 (9am to 7pm)
- You can walk-in to our nearest branch and avail our services.
Can I pre-closure my loan?
Yes, you can repay the loan ahead of schedule. There aren’t any pre-closure charges or any hidden charges. Everything is transparent and mentioned upfront.