Maha MSME Machinery/Equipment Scheme
The Maha MSME Machinery/Equipment Scheme is an initiative by the Bank of Maharashtra. Under this initiative MSMEs in Maharashtra get access to loan facilities for purchasing essential machinery & equipment
Highlights
- Term loans up to Rs 50 crore for purchase of machinery and equipment.
- CGTMSE collateral-free guarantee available for loans up to ₹5 crore
- Machinery or equipment bought with the loan acts as the primary security.
- If additional collateral provided interest rate will be reduced
What is Maha MSME Machinery/Equipment Scheme ?
- It is loan facility provided by Bank of Maharashtra to MSMEs for purchasing machinery and equipment to support their growth & expansion
- It provides loan amounts up to ₹50 crore depending on enterprise scale and credit risk.
- It considers machinery or equipment bought with the loan as the primary security.
- It provides CGTMSE collateral free loan up to ₹5 crore and unsecured loan to qualified MSME up to ₹1 crore.
- It provides a 7 year repayment period and incentivises reduction in interest rate in case of additional collateral provided.
Objectives of the Scheme
- To modernize MSME operations by facilitating capital investment in machinery and equipment.
- To enhance productivity, competitiveness, and product quality among MSMEs in Maharashtra
- To promote sustainable and efficient production practices and enable technology adoption
Benefits of the Scheme
- Access to Large-Scale Financing
MSMEs can get term loans up to ₹50 crore for purchasing modern machinery and equipment. - Collateral-Free Credit up to ₹5 Crore
Through CGTMSE cover, loans up to ₹5 crore can be availed without collateral - Support for Modernization & Competitiveness
Funding for latest machinery helps MSMEs improve productivity, efficiency, and product quality, making them more competitive in domestic and export markets - Encourages Entrepreneurship & Growth
By reducing capital investment pressure, the scheme helps new entrepreneurs start ventures and existing MSMEs scale up faster
Financial Assistance Under the Scheme
Eligibility for the Scheme
You are eligible if:
- You are a registered MSME under Udyam
- You are an enterprise in Maharashtra, with at least 1–2 years operational history
You are not eligible if:
- You are not registered MSME under Udyam
- You are an enterprise outside Maharashtra
Documents Required for the Scheme
- PAN Card & GST Registration
- Annual statements, Tax returns for the last 2 years
- Quotations/invoices from the machinery/equipment supplier
Application Process for the Scheme
You can apply:
- Apply online or visit a branch of Bank of Maharashtra
Examples of Where The Scheme Can Be Used
- A small textile manufacturer in Pune secures a ₹15 lakh loan under the scheme to buy a modern weaving machine, raising production by 40% within a year
- A food processing unit in Nagpur takes a loan of ₹3 crore to purchase machinery. Since it’s under ₹5 crore, the loan can be guaranteed by CGTMSE.
- An engineering firm in Thane upgrades its CNC machinery with support from the scheme
