Things to Know before availing Construction Equipment Loans. According to a report in The Hindu, construction industry in India is a major contributor to the GDP and employs over 33 million people.
This will further go up with various government schemes that aim to erect smart cities and rebuilding numerous regions and infrastructure. This statistic is itself evidence that construction industry is on a high and is fuelling the demand for construction equipment. This in turn has resulted in an increase in requirement and demand for construction equipment loans. Construction equipment is costly and needs heavy funding; the loan ensures that finance needs are taken care of. Before availing the loan, the borrower must be very clear about the terms and conditions of the loan.
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