Medical Equipment Loans

Loan Type : Medical Equipment Loan

Security : Medical Equipment

Interest Rate : 10.5 % & above

Loan Tenure : Upto 60 months

Loan Amount : Upto 5 Crores

Loan Feature : No additional collateral required

As the equipments and accessories required for medical sectors are quite expensive nowadays, the doctors can take advantage of the medical equipment financing offered by banks and many financial enterprises to start their own practice.

Pre-approval documents for healthcare or medical equipment financing

Completed application form

• Last three years’ income tax returns with balance sheet and profit & loss account for all individual promoters (If a private limited or partnership, then applicable for company as well)
• Last six months’ bank statements for all individual promoters (If firm, then applicable for the company as well).
• Copy of Memorandum of Association (MOA) for private limited company or copy partnership deed for a partnership firm
• KYC documentation for all promoters/firms
• Track records of previous/ running loans
• Details about the funding requirement/ project reports
• Other documents as per funding needs

Post-approval / pre-disbursement documents:

• Loan agreement duly signed
• Post-dated cheques (PDCs) / ECS form/standing instruction (SI) request with security PDCs as applicable
• Margin money receipt