Hospital Loan
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Hospital Loan
Running a hospital, clinic, or nursing home is a task that requires funding for the services to operate smoothly. The inexorable process of saving lives requires up-to-date and superior technology to offer dextrous services to society. Therefore hospitals are the first place that needs to have cash reserves for collateral growth.
A hospital loan is a type of business loan that extends financial services specific to your capital requirements and business infrastructure. From financing medical equipment, staff salaries, and utilities, to infrastructure or construction loans, all needs of a healthcare business can be satisfied with this type of loan. As a result, you can confidently move forward with your plans to improve or expand your hospital, secure in the knowledge that you have the funding you need to make your vision a reality.
If you have a project set for hospital construction, rehabilitation, acquisition, refinancing, or all of the mentioned, we have it all. Not all bankers and NBFCs offer loans to hospitals, but with the right lender and offer, you are sure to reserve some capital on your loan for your next project, thus saving resources and maintaining positive cash flow.
We offer competitive rates and flexible repayment terms, so you can focus on what’s important: providing quality care for your patients. Contact us today to learn more about our MSME loan for hospitals and how we can help you grow your business.
Unique Points & Features
Zero-Collateral Options
Find zero-collateral hospital loan options on an MSME loan for hospitals up to 30 lakhs to ensure the safety of your assets without losing the liability of your personal favorites.
Hospital Working Capital
A hospital loan acts as a type of loan that can be used for any of your business needs from clearing debts, abridging gaps, expanding infrastructure, renovating spaces, adding equipment, paying staff, and extending business opportunities to the overall growth of your healthcare establishment.
Minimal Documentation Process
The minimal documentation process on the loan type will help business owners avail of a hospital loan quickly and with ease.Â
Quick Disbursal
Get your MSME loan for hospitals approved quickly within a few minutes to a few hours and get your funds deposited to your bank account within 24 hours of approval, everything online.
High LTV
Desirable profile owners can get an MSME loan for hospitals of up to 100 crores with Loanz360 financial partners.
Flexible Repayment Facility
There are several tenor options available on the hospital loan type and the business owners can choose their tenor of up to 8 years, some extending to 10, depending on their requirements, budget, and other economical aspects.
Pre-Approved Offers
A personalized hospital loan can be offered to doctors or business owners seeking the loan and they can get pre-approved loans on the requirement with faster approvals and fewer efforts, ensuring they do not overdraw on their budget.
Easy Access
Access your account from anywhere through a customer portal and manage your accounts with ease without having to visit the bank or NBFC for any loan-related details.
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Types
Type By EMI
Term Loan: A term loan is the entirety of the loan to be paid over the set intervals for the amount borrowed with interest in full.
Flexi Loan: Flexi loan unlike term loan has a cash limit. The borrower can withdraw any amount from the cash limit and may pay only for the amount used rather than the entirety of the available funds.
Type By Loan
Medical Equipment Loan: Purchase or lease anything from EKG/ECG machines, ventilators, color dopplers, sterilizers, stretchers, and MRI machines, to CT scanners and X-ray equipment.
Overdraft Loan: Merchant establishment also known as ME-OD facility is a type of overdraft facility provided over working capital limits that acts similar to a Flexi loan but is added to the finance when the bank account is zeroed on capital.
Working Capital: A working capital loan similar to a business working capital will fund daily operational requirements of the hospital from purchasing inventory to maintaining other everyday expenses.
Infrastructure Loan: From constructing a new lab facility or expanding an existing facility, to a new hospital, every infrastructural need can be fulfilled with this type of loan, with balance transfer options available.
Eligibility Criteria
Type of Business: Medical Institute/Super Speciality Hospital/Speciality Hospital (Any)/Diagnostic Center/Dialysis Center/Pathology Lab/Pharmacy/Large Medical Equipment Dealers/Speciality Clinics (Any)/Nursing Home/IVF Center
Type By Ownership: Private LTD/Partnership/Individual/Govt.
Nationality: Resident of India
Residence: ~ 3 – 5 years of continued tenancy at current office (or) residence
Income: Regular & Stable Monthly Income (Can add other income sources to increase eligibility)
Credit/CIBIL Score: Any profile (Credit score ~ 700 or above has a higher chance of getting a quick and instant loan with high funding at lower interest rates)
Business Vintage: 3 years and above (Business should not be blacklisted)
Note: The eligibility criteria mentioned above are generic and may vary from lender to lender. Please reach out to us at Loanz360 for a personalized eligibility chart.
Documentation
KYC Documents (Authorized Signatories Of All Promoters/Firms): Passport/Voter ID/Aadhar Card/Driving License/PAN Card/Rent(or)Utility Bills(Accepted As Address Proof)
Income Proof: Latest 3 years ITR with C.A certified balance sheet and profit loss account statement, Latest 6 months bank statements, applicable for all individual promoters and the company (if firm)/Memorandum of Association(MOA)/Copy of Partnership Deed (As Applicable)
Additional Documents: Medical Registration Certificate, Details of existing or previous loans
Charges & Interest Rate
Interest rates on a hospital loan depend on the type of loan, amount sanctioned, collateral, tenor, and other parameters of the loan. The Term and Flexi loans offer different benefits to the borrowers with Flexi loans offering borrowers an overdraft limit to utilize funds as they wish and only repay on the sum utilized rather than the sanctioned limit on the loan.Â
Instant cash or working capital options are available to provide much-needed funding alternatives to business owners (purchasers/vendors) without funds and the loan starts as low as 10% at Loanz360, with our financial partners flexible to negotiate offers while continuously working towards helping you get multiple advantages and deals on the loan.
We are partnered with leading financiers such as Yes Bank, Bajaj Finserv, IndusInd, ICICI, Tata Capital, HDFC, Bank of Baroda, Hero Fincorp, and more to bring you the best deals on your raised bills or invoices with low or zero security guarantee.
Note:Â Contact Loanz360 to discuss options. The interest rates may vary subject to conditions.
FAQ
What is a hospital loan?
A hospital loan is a type of business loan that extends financial services specific to your capital requirements and business infrastructure.
Are there any subsidies on a hospital loan In India?
No. However, there are tax exemptions under ITA, that allow hospitals to get tax benefits on their loan if the loan amount used is used for building and operating the hospital. Conditions apply.
Can a PG Doctor get a loan for setting up a hospital without collateral?
Yes. However, you can get a maximum amount of 2 crores with several lenders under the CGTMSE scheme in which the medical equipment used for your hospital is hypothecated. But, the process and policies may differ from lender to lender. You can contact Loanz360 for more information on the loan and a personalized quote designed to your business requirements.
Do lenders do market surveys to sanction my loan on a hospital project?
No. Most bankers or lenders do not perform a market survey, however, will look into your financial feasibility to sanction the loan. But, it is your responsibility to do the market survey before constructing a hospital in such a place that does not guarantee returns. Therefore consulting a professional is advisable to mitigate potential challenges in the future.
What do bankers check to sanction loans?
To sanction a hospital loan, the bankers will check your medical registration certification prior to anything, then the KYC documents of all individual promoters or the firm if the hospital is a private limited or partnership based. In addition to these, the bankers will check the latest ITR records and bank statements, as required.
Should I take a doctor's loan or a hospital loan?
If you are a doctor who has completed your education recently and is planning to start a clinic, doctor loans are more convenient and easy to acquire. However, if you are planning on a bigger expansion or are a part of a healthcare establishment, hospital loans are larger in scale and are easier to acquire. Depending on your eligibility and requirement, choose the loan that is convenient to you, or contact Loanz360 to discuss options.
Can I get a loan without collateral In India for 2 crores?
Yes. However, the flexibility of the loan will depend on your experience and expertise in the market along with your repayment capacity. You can get the loan without collateral in cases such as when the medical equipment or purchased property is hypothecated to the bank.
How do I take care of the running expenses of my hospital?
Running expenses like any business can be taken care of with a working capital loan that can address all your daily operational needs, from purchasing inventory to paying out salaries to the employees.
Can hospital infrastructure loans be insured?
Yes. Depending on the requirement of your insurance, such as for any business interruption or regulatory issue impacts, you can insure a loan.
Why Loanz360?
If you’re in the market for a hospital loan, you’ll want to find a lender that offers terms that are specific to your business’s needs. At Loanz360, we understand that every hospital is unique, and we’ll work with you to tailor a loan package that fits your capital requirements and business infrastructure.
