Shalini Das, an Asansol resident, was a doctor who was working as a super-specialist doctor in a leading hospital in Kolkata. She had always dreamed of establishing her own clinic but was concerned about the costs involved. The cost of space to set a clinic and the cost of medical equipment was beyond her financial capability.
She had an idea that she would need to arrange the finances to give wings to her dream. She researched about the available option and came to know about a doctor loan.
She availed the loan and today has her own clinic is happy to serve people while making a niche for herself.
If you are a doctor like Shalini who wanted to set up his/her own clinic and increase practice revenue, you can avail an online doctor loan to help you out.
Let’s provide you more information on the doctor loan quickly.
What is a doctor loan?
A doctor loan is a professional loan designed by leading lenders these days to offer funds to cover various needs at a lower rate of interest along with other benefits.
A doctor can avail a loan to fund many purposes such as buying new office space, set up a nursing home, renovate an existing facility, to hire a team, to buy infrastructure, to buy equipment and more.
Here’s how you can use a doctor loan to increase practice revenue
If you know how to utilize a doctor loan well, you can channelize it in the right direction. Let’s provide you some better ways to use a doctor loan.
- To give a facelift to the infrastructure
If you already have a nursing home or a self-owned clinic or small hospital, you can improve its infrastructure with the help of a doctor loan. With it, you can go for clinic expansion, get it renovated, get new furniture and do more.
- To buy modern equipment
Having a doctor loan at your disposal can help you buy modern equipment such as CT scan machines, MRI machine, Mammography machines and more. Unless you don’t have modern equipment, patients won’t come to you to get a speedy diagnosis of their health issues.
- Buy ambulance and other vehicles
Using a doctor loan, you can also buy some ambulances along with other vital vehicles to help you ferry and drop patients and help in the operations of your clinic, overall.
- To have some working capital
If you are a young doctor who has begun setting up his/her practice, you may have a shortage of funds during the initial times. That’s where a doctor loan can assist you to have some working capital to help continue your practice. Having some working capital at your end helps you establish a niche name in your professional life.
Doctor loan eligibility criteria
A doctor loan can help you avail a loan of up to Rs.35 lakh super quick if you fulfil some below eligibility criteria such as:
- You should be a super specialist doctor (MD/DM/MS) – no further experience is required
- Graduate doctors (MBBS) – with two years of post-graduation expertise
- Dentists (BDS/MDS) with five years of experience
- Homoeopathic (BAMS/MHMS) and Ayurvedic doctors with eight years of experience
- DHMS Homoeopathic doctors with at least 15 years of work expertise are eligible
- All BAMS, BDS and BHMS doctors should have a home of their own as well
- An Indian resident
The Bottom Line
Don’t let your dream of establishing your own practice die down as you can apply for a doctor loan online and give wings to your dreams! Good luck!