{"id":12961,"date":"2020-11-20T06:17:59","date_gmt":"2020-11-20T06:17:59","guid":{"rendered":"\/blog\/?p=12961"},"modified":"2020-11-20T06:18:55","modified_gmt":"2020-11-20T06:18:55","slug":"how-to-choose-an-equipment-finance-company-in-india","status":"publish","type":"post","link":"https:\/\/tata-blog.osian.dev\/blog\/equipment-finance\/how-to-choose-an-equipment-finance-company-in-india\/","title":{"rendered":"How to choose an equipment finance company in India?"},"content":{"rendered":"\n<p>Investing\nin new equipment and machinery is essential for every enterprise. Your\nrequirements may differ based on your organization\u2019s short-term and long-term\nneeds, but upgrading machinery is a continuous effort to maintain productivity\nand efficiency. However, there might be times where you might need to upgrade\nmachinery without sufficient upfront capital to invest. In such times,\nequipment financing can come to your rescue.&nbsp;<\/p>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Why should you go for equipment financing and leasing?<\/strong><\/h2>\n\n\n\n<p>Depending on your individual company\u2019s needs, you may choose a loan, finance lease, or operating lease as a solution. But before diving into how you can select the best&nbsp;equipment finance company&nbsp;for your needs, let\u2019s have a look at why you should go for equipment financing&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>If you need to upgrade your      technology but need to preserve liquidity for other purposes, you can go      for&nbsp;equipment      financing solutions<\/li><li>If you need technical equipment      for a short period that you may not need later, you can opt for <a href=\"https:\/\/tata-blog.osian.dev\/corporate\/leasing-solutions\/equipment-leasing.html\">equipment leasing<\/a> options.&nbsp;<\/li><li>If you are not sure what returns      to expect from your investment, you can lease the machinery for a short      tenure before deciding to make the purchase.&nbsp;<\/li><li>If you do not have additional      collaterals to offer to your existing bank, you can take an&nbsp;equipment loan&nbsp;wherein the equipment purchased      would be considered the collateral.&nbsp;<\/li><li>If you want to boost your working      capital, you may avail refinance or top up on your existing loan.&nbsp;<\/li><\/ul>\n\n\n\n<p>Equipment\nfinancing can boost your business and revenue growth as you would only need to\nmake smaller instalments while the equipment would continue to generate higher\nrevenue for you.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional\nRead<\/strong>: <a href=\"https:\/\/tata-blog.osian.dev\/blog\/construction-finance\/top-trends-in-construction-equipment-finance-market\/\">Top\nTrends in Construction Equipment Finance Market<\/a><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"770\" height=\"400\" src=\"\/wp-content\/uploads\/2020\/11\/how-to-choose-an-equipment-finance-company-2.jpeg\" alt=\"Factors to Consider When Choosing an Equipment Financing Company\" class=\"wp-image-12963\" srcset=\"https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/11\/how-to-choose-an-equipment-finance-company-2.jpeg 770w, https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/11\/how-to-choose-an-equipment-finance-company-2-300x156.jpeg 300w, https:\/\/tata-blog.osian.dev\/blog\/wp-content\/uploads\/2020\/11\/how-to-choose-an-equipment-finance-company-2-768x399.jpeg 768w\" sizes=\"auto, (max-width: 770px) 100vw, 770px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>What should you look for in an equipment financing company?<\/strong><\/h2>\n\n\n\n<h3 class=\"wp-block-heading\">1. Expertise<\/h3>\n\n\n\n<p>Providing an\nequipment finance solution needs a detailed understanding of machinery,\nbusiness industry, equipment usage, and cash flow cycles. Some equipment is\nalso imported and requires a combination of Loan\/Lease, Letter of Credit\n(L\/Cs), and Buyer\u2019s credit to finance.<\/p>\n\n\n\n<p>Choose your\nequipment financing partner carefully as these loans are not just transactional\nbut also advisory as you may need the financier\u2019s expert advice to recommend\nthe best solution.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">2. Reliability&nbsp;<\/h3>\n\n\n\n<p>Assets financed\nunder equipment financing are critical for the very survival of your business.\nAnd you can customise such loans to suit the nature of your business and\nequipment type. You need to ensure that you take such advances from reliable\nlenders, who will be around for the entirety of the loan\u2019s tenure.&nbsp;<\/p>\n\n\n\n<p>Since they are\ncritical to your day-to-day operations, it is better to take such finances from\nreliable, trustworthy, and credible partners like Tata Capital.&nbsp; As a part\nof the marquee Tata Group, we at Tata Capital, with over a decade of\nexperience, are committed to doing right for our customers.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">3. Convenience<\/h3>\n\n\n\n<p><a href=\"https:\/\/tata-blog.osian.dev\/corporate\/equipment-finance.html\">Equipment\nfinance loans<\/a> are long-term in\nnature and require back and forth interactions and regular transactions with\nyour financier. You must access such loans from partners that provide you with\nthe latest technology and convenience to viewing your transactions, download\nstatements, make timeline payments, and settle loans virtually.&nbsp;<\/p>\n\n\n\n<p>The pandemic has\nonly reinforced the importance of digitization in the financial services space.\nAt Tata Capital, we are committed to providing our customers with the best\ndigital experience to seamlessly control their finances regardless of their\nlocation.&nbsp;<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">4. One-Stop Financier&nbsp;<\/h3>\n\n\n\n<p>Unlike standard term\nloans, equipment finance loans require a certain depth of industry\nunderstanding, machinery knowledge, and expertise to structure the right kind of\noffering. You would also require companies that offer you the width and depth\nof offerings to finance all equipment needed to run your business.&nbsp;<\/p>\n\n\n\n<p>Going for a company\nthat has diversity in offerings and specialization in equipment financing is prudent.\nFor instance, a construction company may also require computer hardware and\noffice furniture for their daily operations. Choosing a company that can meet\nall of your needs under a single roof will save you many hassles in the future.<\/p>\n\n\n\n<p style=\"color:red\"><strong>Additional Read:<\/strong> <a href=\"https:\/\/tata-blog.osian.dev\/blog\/equipment-financing\/what-vital-role-does-equipment-financing-play-reviving-business-post-pandemic\/\">What Vital Role does\nEquipment Financing Play in Reviving Business in Post Pandemic Period?<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">5. Transparency&nbsp;<\/h3>\n\n\n\n<p>It is essential to\naccess any financing at the best terms possible. The best terms are the lowest\ninterest rates and transparency in other charges, like processing fees,\nprepayment charges, penal rates, etc.&nbsp;<\/p>\n\n\n\n<p>Given that these\nloans are long-term loans, choose an equipment finance partner that offers\ncompetitive rates and is transparent about its future pricing approach to avoid\nunpleasant surprises later. At Tata Capital, we partner in our customer\u2019s\ngrowth and ensure complete transparency and fairness in our communications and\ntransactions.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">6. Partnership&nbsp;<\/h3>\n\n\n\n<p>OEMs play an\nindispensable role in providing the equipment and various maintenance solutions\nto business. All significant OEMs associate with strategic financing partners,\nincluding Tata Capital, to provide their customers with integrated solutions.\nChoosing such financing partners with OEM tie-ups is beneficial in managing the\nequipment better during its lifespan.<\/p>\n\n\n\n<p>Amidst multiple equipment finance companies&nbsp;in the market today, finding the right fit for you might seem like a daunting task. Get in touch with our experts to guide you through this process. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investing in new equipment and machinery is essential for every enterprise. Your requirements may differ based on your organization\u2019s short-term and long-term needs. <\/p>\n<p><a href=\"https:\/\/tata-blog.osian.dev\/blog\/equipment-financing\/how-to-choose-an-equipment-finance-company-in-india\/\">Read More<\/a><\/p>\n","protected":false},"author":1,"featured_media":12964,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[53],"tags":[],"class_list":["post-12961","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-equipment-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.13 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>How to choose an Equipment Finance Company - Tata Capital Blog<\/title>\n<meta name=\"description\" content=\"When choosing an equipment finance company, there are a number of\u00a0factors to consider. 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