Quick and Easy Medical Equipment Loan for Dentists
A dentist’s profession is an expensive one to run. The whole process requires a lot of capital, from studying for your bachelor and master’s degree to setting up your own dental practice. For those who need a financial helping hand for the capital, we at Poonawalla Fincorp offer Medical Equipment Loans for Dentists.
You can use the loan to purchase sophisticated tools and equipment for your practice, ranging from drills and burs, dental lasers and imaging systems to dental chairs and other accessories for your clinic.
With a high loan amount, minimal documentation, and quick disbursal, our loan to dentists can be just the right choice to upgrade your clinic. Every step of the online loan application is designed to make the process effortless, quick, and hassle-free. You can use our EMI calculator to plan your loan better by estimating your EMI payments, complete the application online, submit your documents and get funds disbursed into your account in no time.
Uses of Dental Equipment Financing
There are many ways in which you can use a loan for dental equipment. The large sum sanctioned allows you to set up a state-of-the-art dental clinic and expand your practice. You can use our Medical Equipment Loan for Dentists for:
- Upgrading equipment in your existing clinic
- Renovating your dental clinic
- Expansion of your dental clinic
- Introducing new technology
- Improving operational systems
Features & Benefits
Minimum Processing Fees | Flexible Tenure | Structured Repayment
A Medical Equipment Loan for Dentists is a loan to expand dental clinic that will help you purchase new equipment or upgrade your existing one. While structuring our Medical Equipment Loan for Dentists, we have considered all the requirements of today’s medical professionals and made sure it is affordable, easy to access and repay. Dental equipment financing from Poonawalla Fincorp is among the best in the market, with an easy application process, quick processing, fast disbursal, simple documentation requirements, and flexible repayment tenure for a hassle-free borrowing experience.
Here are the top features of Poonawalla Fincorp’s Medical Equipment Loan for Dentists:
- High loan amount of up to ₹10 Crore
- Structured repayment option
- 84-month loan period
- Moratorium of up to 6 months
- Quick disbursal
- Low interest rates
- Straightforward documentation requirements
- Free of hidden charges
- Choice of online process
- Easy loan application process with a few easy steps
Eligibility Criteria for a Medical Equipment Loan for a Dentist
The eligibility criteria for a Poonawalla Fincorp Medical Equipment Loan for Dentists are minimal. There are no complicated requirements. The loan application process has been made as simple and convenient as possible, eliminating obstacles from your path to success.
To get a Medical Equipment Loan for Dentists from Poonawalla Fincorp, you need to meet certain basic requirements based on the following parameters, which include:
- Age limit of the key applicant
- Indian citizenship of the key applicant
- Necessary educational qualifications
- Minimum work experience as a doctor
Do note the above-mentioned MEL eligibility list is indicative. Additional eligibility criteria may be required during loan processing by Poonawalla Fincorp.
If you meet eligibility criteria, you can get a Medical Equipment Loan for Dentists quickly. Moreover, if you have a good credit score and clean credit history, availing of the loan will become even easier. You may get lower interest rates on your loans with a better credit score. Go to the ‘Apply Now’ option on our website and begin your loan application process.
Documents Required for a Medical Equipment Loan for a Dentist
Before you can apply for a loan, you will have to submit certain documents so that we can verify and process your application. If all the required documents are in order, your loan application process will become smooth and hassle-free.
To apply for a loan for a dental clinic to purchase equipment, you will need the following documents:
- KYC documents such as PAN Card, Aadhar Card, Business Address Proof, etc.
- Bank account statements
- Professional qualification and professional practice documents
Do note the above-mentioned MEL document list is indicative. Additional documents may be required during loan processing.
Frequently Asked Questions
What is a Medical Equipment Loan for Dentists?
A Medical Equipment Loan for Dentists is a long-term loan sanctioned specifically to purchase or upgrade dental equipment. Poonawalla Fincorp’s dental equipment financing is extremely simple to apply for, has quick disbursal and allows you to get funds seamlessly.
When is it a good time to take a Medical Equipment Loan as a dentist?
If you have a dental clinic of your own and want to upgrade your equipment, introduce new technology or change some other equipment in your clinic, you can consider taking a Medical Equipment Loan for Dentists.
How is a Medical Equipment Loan better than a Personal Loan?
The interest rates for a Personal Loan are considerably higher than taking out a Medical Equipment Loan. The tenure may also be shorter. If you are certain that you want to use the loan amount to upgrade the equipment in your dental clinic, it is better to go for dental equipment financing rather than taking out a Personal Loan.
Is a Medical Equipment Loan secured or unsecured?
A secured loan is a loan against which there is collateral required. Unsecured loans require no collateral. Medical Equipment Loans are usually secured. The expensive equipment you purchase for your dental clinic is considered as a collateral and can be seized if you fail to repay your loan.
How to apply for a Medical Equipment Loan for Dentists with Poonawalla Fincorp?
Applying for a Medical Equipment Loan for Dentists with Poonawalla Fincorp is simple. The whole process can be completed online in a few simple steps:
- Step 1: Go to the ‘Apply Now’ option on the Medical Equipment Loan page and fill in the application form
- Step 2: Submit all required documents
- Step 3: Wait until your documents have been verified
- Step 4: After verification, your loan application will be processed for approval
- Step 5: Your loan will be credited to your bank account