• UOB Machinery and Equipment Financing

    Personal Loan BYTES FROM OUR KITCHEN

    UOB Machinery and Equipment Financing

    You can avail the UOB Machinery and Equipment Financing in order to finance the purchase of your machinery and equipment. Through this financing arrangement, UOB will pay the vendor directly for the machinery and equipment purchased by you. Through this arrangement, UOB will acquire and retain the legal ownership of your financial asset whereas you will become the hirer. When you repay the final installment of this loan, UOB will transfer the ownership of your financial asset to you. This arrangement is different from a term loan where the borrower will hold the legal title to the financial assets / goods from the outset.

    UOB Commercial banking offers you a diverse range of financing for various types of equipment and machinery. They also provide flexible repayment tenures and attractive interest rate packages where you can acquire the machinery and equipment you require for your business and at the same time manage your cash flow better.

    Features and Benefits of UOB Machinery and Equipment Financing

    • Loan Quantum – UOB offers attractive Machinery and Equipment Packages to ease the purchase of your financial asset. The bank provides a maximum of 90% financing of the purchase price or the valuation, depending on whichever is lower.
    • Loan Tenure – The bank offers flexible loan repayment tenures for this loan. You can choose a tenure of your choice of up to a maximum of 8 years.

    Hire Purchase Financing

    Through UOB Commercial Banking, you can now apply for the Hire Purchase Financing using the following ways –

    Government Assistance Schemes –

    1. Local Enterprise Finance Scheme (LEFS)

    In order to be eligible to apply for this scheme, your business must meet the following criteria –

    • Your business must be incorporated or registered in Singapore
    • Your company must have at least 30% of local shareholdings
    • Your company’s Group Annual Sales must not exceed SGD 100 million OR your company’s Employment Size should not exceed 200 employees. (Note, the Annual Sales + Employment Size will be computed on a group basis)
  • Internationalisation Finance Scheme
  • In order to be eligible to apply for this scheme, your business must meet the following criteria –

    • Your business must be a Singapore based company OR your company must be an overseas subsidiary of an associated company of a business based in Singapore.
    • If your company is a non – trading company, your turnover should not exceed SGD 300 million. If company is a trading company, your turnover should not exceed SGD 500 million. Note, trading companies here refers to companies that obtain over 50% of their sales turnover from trading activities.

    UOB Commercial Hire Purchase Facilities -

    You can apply for attractive Machinery and Equipment Financing Packages offered by UOB at competitive interest rates. Any business that is registered in Singapore is eligible to apply for the UOB Commercial Hire Purchase Facility.

    Explore the Loans Offered By UOB Singapore:

    Frequently Asked Questions

    1. What is the purpose of applying for the UOB Machinery and Equipment Financing?
    2. You can apply for the UOB Machinery and Equipment Financing in finance the purchase of your machinery and equipment. UOB offers attractive Machinery and Equipment Financing Packages at competitive interest rates. Any business registered in Singapore can apply for this loan.

    3. Once my loan for the UOB Machinery and Equipment Financing is approved, will I have the ownership of my financial asset / equipment / machinery?
    4. The UOB Machinery and Equipment Financing provides for a financial arrangement wherein the bank will pay for the financial asset / equipment / machinery that you have purchased directly to the vendor. Post the payment, UOB will acquire and retain the legal ownership of your financial asset whereas you will become the hirer. When you repay the final instalment of this loan, UOB will transfer the ownership of your financial asset to you.

    5. What is the maximum loan amount offered by the UOB Machinery and Equipment Financing?
    6. UOB offers attractive Machinery and Equipment Packages so that you can purchase your financial asset conveniently. The bank provides a maximum of 90% financing of the purchase price or the valuation, depending on whichever is lower.

    7. What is the maximum loan tenure offered by the UOB Machinery and Equipment Financing?
    8. The bank offers flexible loan repayment tenures for the UOB Machinery and Equipment Financing. You can choose a tenure of your choice of up to a maximum period of 8 years.

    9. What are the different schemes offered for Hire Purchase Financing under UOB Commercial Banking for the UOB Machinery and Equipment Financing?
    10. Through UOB Commercial Banking, you can apply for several schemes for the Hire Purchase Financing provided you meet the minimum requirements for each of them. The following are the schemes that you can apply for Hire Purchase Financing through UOB – Government Assistance Schemes that include Local Enterprise Finance Scheme (LEFS) and Internationalisation Finance Scheme (IFS) AND UOB Commercial Hire Purchase Facilities.

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