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Business Loan for Doctors: Empowering Medical Practices

Healthcare professionals, particularly doctors, often require financial support to manage and expand their practices, acquire new medical equipment, or start new ventures. Understanding this need, tailored business loans for doctors are designed to provide the necessary financial backing with ease and flexibility.

Features and Benefits of Business Loan for Doctors

Quick Processing

Time is a precious commodity for medical professionals. Therefore, the application process for these loans is streamlined for quick processing, ensuring that doctors can focus on their patients rather than lengthy loan procedures.

Flexi Facility

Flexi loans offer doctors the flexibility to withdraw funds as needed and pay interest only on the utilized amount. This feature is particularly beneficial for managing cash flow in a medical practice.

Convenient Tenors

With loan tenors that can extend up to several years, doctors have the flexibility to plan their finances without feeling the pressure of immediate repayment.

Funds in 48 Hours*

In urgent situations, such as the need for quick equipment purchase or clinic renovations, loans can be disbursed in as little as 48 hours* after approval.

No Collateral

Unsecured loans mean doctors don't have to pledge any assets as collateral, making it easier and less risky to obtain funding.

Easy Part-Prepayment

For doctors who wish to prepay their loan partially, the process is straightforward and usually comes without any additional charges, reducing the total interest burden.

Pre-approved Offers

Existing customers often have access to pre-approved offers, which simplifies the application process and provides quicker access to funds.

Business Loan for Doctors

This section will delve deeper into the specifics of business loans for doctors, tailored to meet the unique needs of the medical profession.

Types of Medical Practice Finance

Doctor Loan

1. Three Unique Variants

Doctors can choose from three loan variants – term loans, overdraft facility, or Flexi loans, each designed to suit different inancial needs and repayment capabilities.

2. No Part-prepayment Charges on Flexi Variants

Flexi variants allow for easy part-prepayment without any additional charges, providing more control over the interest costs.

3. Loan Amount of Up to Rs. 55 Lakh

Substantial loan amounts up to Rs. 55 lakh cater to various needs, from upgrading clinic infrastructure to investing in new technology.

4. Convenient Tenures of Up to 8 Years

Long tenure options give doctors the leeway to manage repayments without disrupting their financial stability.

 

Medical Equipment Finance

Loan Amount of Up to Rs. 6 Crore

For major equipment purchases or clinic expansions, doctors can avail loans up to Rs. 6 crore.

Flexible Tenures of Up to 84 Months

With tenures extending up to 84 months, doctors can plan their finances according to their practice's growth and revenue.

Minimal Documentation

Ease of application is ensured with minimal documentation requirements, making the process fast and hassle-free.

Approval in 24 Hours

Fast-track approval processes enable doctors to make timely investments in their practice.

Benefits of Small Business Loan

Starting a medical practice or expanding an existing one can be capital-intensive. A small business loan for medical startups can provide the necessary financial support with manageable repayment options.

Eligibility Criteria for a Business Loan for Doctors

Eligibility criteria typically include qualifications, years of experience, income criteria, and credit history. It's essential for doctors to review these requirements before applying.

Documents Required for a Business Loan for Medical Practice

The documentation process is simplified and may include identity proof, educational certificates, bank statements, and proof of medical practice.

How to Apply for a Business Loan for Doctors

Applying for a business loan is made easy through online applications or by visiting a lender's branch. The process is straightforward, with customer support available for any queries.

What our customers say about us

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VIVERLY EDUCATIONAL SOCIETY

Business Loan | 15 February, 2024

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YUVARAJ SRINIVASAN LINGAPPA

Business Loan | 08 February, 2024

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Business Loan | 03 February, 2024

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Business Loan | 31 January, 2024

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Business Loan | 26 January, 2024

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Business Loan | 23 January, 2024

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Business Loan | 18 January, 2024

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OM SAI ENTERPRISES

Business Loan | 11 January, 2024

Best service in minimum time with good support.

SIDDHANT UTTAM GHONGANE

Business Loan | 30 December, 2023