Sany Bharat recently signed a Memorandum of Understanding (MOU) with Union Bank of India with the aim to make equipment financing efficient.
Buyers of Sany equipment can avail a loan of up to 90 percent of the equipment cost from the bank. The flexible payment options offered by the bank will facilitate Sany customers to manage cash flow and help in loan repayment.
As per the agreement, Union Bank will extend equipment finance to customers of Sany Bharat and in turn the Bank’s portfolio under equipment finance is likely to strengthen and get a wider reach.
The widespread presence ofUnion Bank is expected to facilitate Sany’s customers pan India and thereby fortify infrastructure growth which is significant towards creating a Naya Bharat.
The Memorandum of understanding was signed at Mumbai by Dheeraj Panda, Chief Operating
Officer (Sales, Marketing & Customer Support) Sany Heavy Industry India and CM Minocha, Chief General Manager , MSME, Union Bank of India.
Speaking on the occasion Dheeraj Panda, Chief Operating Officer (Sales, Marketing & Customer Support) Sany Heavy Industry India said, “ By enhancing their focus on MSME sector, union bank of India has eased the financial burden for our existing and potential customers. By joining hands with Union Bank of India, interest rates will no longer prevent our buyers in becoming a proud owner of Sany equipment. ”
As per recent reports, Union Bank of India has opened funding for retail and construction equipment sector from Rs 10 lakh loan to up to Rs 50 crores.
