Every business owner, small or online, offline or online, new or established, requires machinery, such as ranging from the basic ones (such as computers, printers, phones, desks and other furniture) to the large ones (such as trucks, cars, specialised machinery and other industrial equipment) daily. No business, whether small or big, can run smoothly without proper machinery to reduce the workload and increase productivity. Hence, machinery is a vital accessory to all sorts of business. Machinery loans refer to loans which provide monetary assistance to purchase machinery without having to compromise a substantial amount of business funds. Moreover, a machinery loan also provides funds for repairing an existing piece of machinery or upgrading it to state-of-the-art technologies. A machinery loan increases the productivity of the business and expands the customer base as well, thereby increasing overall business profits. All types of business loans in India, including machinery loans, have seen…