The growth of the Indian healthcare sector has presented an exciting opportunity for medical professionals to begin their independent practice and become successful. The Government‘s efforts and the availability of easy financing options have further boosted this growth.
According to a recent report, this industry is likely to hit $372 billion by 2022, which indicates the volume of investments here. Therefore, experienced or new medical professionals who are planning to start their standalone clinic can also take over an existing practice with medical practice acquisition loans against easy terms from leading financiers.
The best medical practice acquisition loan available in India
There are a handful of financial institutions that extend the financing for the acquisition of medical practices or any other business necessities for doctors. A medical practice acquisition loan from Bajaj Finserv is one of the most convenient options available in the market.
One of the leading NBFCs of the country, the company offers similar financial products that can help medical practitioners run their clinics and cover other such expenses. Healthcare professionals can also acquire the necessary medical equipment financing in India from Bajaj Finserv.
Loans for doctor come with the following benefits –
- High loan amount- Avail a high loan amount and use it without any restriction.
- Fast disbursal of the funds: Following the submission of the loan application form and successful verification of details, you can receive the loan amount even within a day.
- Requires no collateral: Since it is an unsecured mode of credit, it saves you from the hassle of arranging collateral to qualify for a loan.
- Longer repayment tenor: You have the liberty here to select a repayment tenor of your choice from the wide range of the tenor, depending on your payment capacity.
- Flexi loan facility: One of the most attractive features of this particular financial product is the availability of a Flexi loan. Under this offer, you can withdraw funds from the approved loan limit as per your need and decide to pay the interest initially as your EMIs. You can pay off the principal at your convenience.
- Pre-approved offers: Bajaj Finserv also extends pre-approved offers to its existing customers that can help them to skip the hassle of a complicated application. These offers streamline the whole process and save time. Applicable on a host of financial products, both secured and unsecured, you can now check your pre-approved offer online by following a few simple steps.
A specialised loan for doctors like this extends a substantial loan amount at favourable loan terms and competitive interest rates. Hence, acquiring an existing practice will not be a hassle for you anymore. Apart from that, you can use these funds to meet an array of different financial purposes as well.
Ways to use the funds acquired from a doctors’ loan
Along with the obvious benefit of using the funds as medical practice acquisition loans, here are some ways in which a loan for doctors can help you to offer better healthcare –
- Meeting working capital expenses
- Paying salaries to the staff
- Making further investments to refurbish the clinic
- Investing in upgrading or buying new equipment
- Expanding the clinic
- Using it for advertisement and marketing
This financial product does not come with any usage restriction; hence, you have the freedom to meet any other expenses related to business as well.
Medical practice acquisition loans provide easy financing options to the individuals of the said field and help them to start their own business. However, before moving ahead, applicants should learn the eligibility criteria and documentation to be eligible for a doctor loan. Meeting the eligibility requirements can help skip any hassles during the application process.