Translate your equipment needs into reality at the most affordable cost with easy Medical Equipment Loan
The loan is designed for Medical Professionals who is running a Clinic or Hospital. As a doctor, one is always in need to best in class equipment's so that he can serve and assure best of services and treatment. Such equipment's and machines involves a significant cost and can block good amount of working capital or impact cash flows. Medical equipment loan thus plays a vital role is making things easy and affordable thus helping Healthcare industry to grow
Healthcare Financing made easy
All the businesses that are involved in healthcare such us clinics, labs, path labs, diagnostic centers, medical imaging, Hospitals, Dispensary etc involves huge set up cost along with good amount of capital to run them. The medical equipment loan or medical equipment financing thus helps these businesses to address their working capital and equipment requirements by funding and providing longer repayment tenor. the main purpose of medical equipment loan for funding healthcare businesses for new set-ups, expansion of current facilities and upgradation of medical equipment. It is a term loan which needs to be secured and can also be used for ancillary requirements of this business.
Key equipment's that are covered for medical equipment financing are
MRI | Ultrasound | C Arm | X Ray Machines | Ventilators | CT Scan | Path Lab Equipment's | Hospital Equipment's | OT Equipment's etc.
Eligibility criteria for medical equipment loan
- One needs to be in Healthcare business and holds a professional doctor degree
- Minimum of 3 to 5 yrs of Business Vintage
- Repayment track record with good banking for past one year
- Should possess approvals / registrations to operate from authorities
The loan amount may vary from Rs 5 lacs to 1.5 Cr+. Depending upon the equipment purchased business vintage etc. Loan tenor also vary from 5 to 7 yrs. The medical equipment loan covers equipment finance, project finance, working capital, credit requirements etc. Above a certain amount of loan, collateral needs to be provided.
Key terms - Medical Equipment Loan
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