Medical professionals also need to apply for loans in order to cover certain expenses or to kick-start a new entrepreneurial venture. However, the subsequent discussion will strictly concern doctor loans for business which cove the likes of clinic expansions, facility renovations, and purchase of the latest medical equipment.
When it comes to getting doctor loan for purchasing high cost equipment, it is necessary to meet the eligibility criteria. Most importantly, the entire costing needs to be evaluated well-in-advance before moving ahead with the application.
Why Doctors Need Loans?
It would be fair to state that doctors do make enough and hardly do they require loans to cover personal requirements. However, getting hold of medical equipment requires a lot of capital and doctors often like to get the entire process funded to keep the existing cash flow intact.
Most lending institutions offers loans of up to 32 lakhs for helping doctors cover the business requirements with considerable ease.
Additional Read: How To Expand Your Hospital with the Help of Doctor Loan
Are there any other options?
Apart from business loans for doctors, there are companies like Bajaj Finserv that offer something as the medical equipment loan for covering sizeable requirements, something in the ballpark of up to 2 crore. Most importantly, loans like these come at attractive and competitive interest rates followed by extremely quick disbursals and approvals.
Covering the cost of modern day medical equipment isn’t as difficult as it sounds, especially with credible organizations making it easier for doctors to get hold of sizeable funding.
Additional Read: Fund High-Cost Medical Equipment with Professional Loan
Watch the video for more information about loan for medical practitioners: