Useful Loan Schemes in India for the Healthcare Industry

One of the most fundamental industries is healthcare. Its contribution and persistent efforts to save lives are incredibly admirable. 

No industry today remains untouched by the marvels of technology, and medical sciences are no exception. Revolutionary equipment is enabling doctors and medical professionals to save more lives daily. It's a must to adjust according to the demands of the modern world and for doctors starting their practice. It's integral for them to invest in the best possible medical equipment, tools, and techniques and as your partner in growth, Poonawalla Fincorp has got you covered. 

Some of the useful loan schemes in India for the Healthcare Industry are:
-    Medical Equipment Loan
-    Professional Loans for Doctors
-    Loans for Hospitals, Clinics and Pathology Labs

Importance of Healthcare Loan Schemes

With advancements in technology, patient empowerment, laws, and quality compliances, the healthcare industry is moving at a quick pace. A commensurate investment is necessary to not only meet marketing objectives, but also to maintain competitiveness through the provision of new facilities, and acquisition and expansion of operations.

Additionally, equipment quality is now a metric to determine the quality of healthcare clinics or hospitals. From patients’ perspectives, they put their trust in a place that has advanced technology equipment, as it ensures accurate results. So, seeking the best equipment plays an integral role in the success of the Healthcare Business and to support this, Poonawalla Fincorp offers products like Medical Equipment Loans.

Medical Equipment Loan

> For hospitals operating on a wide scale, equipment costs make up over 30% of the annual budgets. These costs can be offset for not even new doctors trying to establish their own practices but even the ones with an established reputation. To help medical practitioners in their dream to start hospitals loaded with the best of equipment, Poonawalla Fincorp brings to you a form of Business Loan, catering to fulfilling your demand for financial capital. Whether you wish to introduce completely new equipment in a new practice or just want to update the existing ones, the Medical Equipment Loans have got you covered every step of the way. Other ways in which Medical Equipment Loans can be used by doctors are:
-    To buy new equipment 
-    To purchase office furniture or other additions to the hospital
-    To upgrade the equipment in the clinic 
-    To purchase state-of-the-art equipment for providing top-class treatment 
-    To improve and update operational systems
-    To import the best-in-class laboratory tools

We at Poonawalla Fincorp believe in innovation, we believe that technology, when used correctly, can help make a better reality. With our trust in technology and our aim of providing our customers with the best possible financial products and services that can maximise their potential, we bring to you this unique proposition of a Business Loan specifically to suffice the demand for medical equipment.

Also Read :- What Can a Medical Equipment Loan Be Used For?

Eligibility criteria for a Medical Equipment Loan

The eligibility criteria are very simple when it comes to medical loans. If you meet all the below basic things, you can get quick loan approval with instant disbursal.

• Meet the required age limit
• Prove Indian citizenship
• Have the necessary medical qualifications
• Meet the minimum work-experience requirement

Moreover, getting the loan would be simpler if you have a high CIBIL score and a spotless credit history.

Professional Loan for Doctors

Similar to other white-collar workers, medical professionals need access to rapid cash at different points in their lives, whether it's for paying for their higher education, starting or expanding their medical practice, buying expensive medical equipment, renting hospital space, or purchasing a home for their family. We at Poonawalla Fincorp are aware of this and offer collateral-free Professional Loans for Doctors to assist them in meeting their varied financial needs. Such programmes stand out since the borrower is not needed to put up any collateral when applying for one of these unsecured loans. Our doctor loans are created to be both reasonable and very customizable. They also have several intriguing advantages, such as quick disbursement, a customizable repayment period, and no foreclosure fees.

Loans for Hospitals, Clinics and Pathology Labs

To set up a hospital or clinic, buy equipment, hire employees, set up operational systems and manage finances is not an easy task. At times, it is strenuous to plan everything in advance and gather huge funding for the same. Here is where medical loans come into play. It makes budget financing very easy and lets you focus completely on the growth of your business.
Pathology Laboratories have become crucial and a blessing in the identification of numerous human ailments that influence our lives thanks to their precise results, quick access to health reports, and the convenience of receiving them at home. One of the best possibilities in India is pathology labs if you are considering starting your own business and have a basic understanding of medical practices and procedures. The level of technological sophistication of your pathology lab may affect the overall cost of the facility. However, you can get a Business Loan for doctors or a loan for medical equipment to support your venture. Even if you lack an MD Pathology Diploma or a similar degree from the Medical Council of India you can still run this company as an investor or as part of a management team.

Conclusion

To help you turn your ambitions into reality, Poonawalla Fincorp offers rapid and hassle-free professional loans for the healthcare sector. We want to make sure that your lack of resources never prevents you from succeeding. Visit Poonawalla Fincorp for seamless and exceptional services.