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Healthcare Financing: Best Loans for Doctors to Grow Their Clinic

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Statistics by IBEF, a trust instituted by India's Ministry of Commerce and Industry, show that the healthcare industry in the country is set to cross the Rs.37,200 crore mark by 2022. As a self-employed doctor, riding this economic wave is possible only if you have the adequate financial backing to set up clinics, purchase equipment, train hospital staff, and plug any gaps in your working capital.

Thus, it's important that you find a financing solution that's not generic, but personalised to doctors.

Arm your clinic with cutting-edge equipment

Furnishing your clinic with quality equipment ensures that your patients are diagnosed accurately and speedily. From X-ray machines and CT scanners to simpler devices like audiometers and blood-glucose meters, there isn't any aspect that won't benefit from the latest equipment. Similarly, software can be used to track patient progress, take notes and reduce the time taken for everyday operations from scheduling patients to staff.

Manage big-ticket expenses easily

In the event that you want to set up a new clinic or add a new wing to your existing health centre, you will require substantial monetary assistance. In such cases, it is advisable that you opt for a secured loan as it grants you a larger amount.

Manoeuvre uncertainties effortlessly

The best part about these tailored loans is that they are flexible, easy to manage, and do not add any financial strain. A good example of this is the Flexi Loan facility. This unique feature allows you to borrow from your approved sanction as needs arise.

Assume that you get a sanction of Rs.30 lakh and spend Rs.10 lakh on imaging units, medical beds and trolleys. With the Flexi Loan feature, you only pay interest on Rs.10 lakh and not Rs.30 lakh. The rest can be used later at a later date, say for a training programme or for renovation that you wish to carry out. Also, the balance will be interest-free until you use it.

This facility also allows you to pay interest-only EMIs through the tenor and repay the principal at the end. That way you can use the loan to its fullest, manage cash flow smoothly and repay the lump sum principal amount once you reap returns from your clinic.

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