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Overview

Medical Equipment Finance, a part of Healthcare Finance is incorporated with the objective of leveraging the growing healthcare market in India. It caters to professional doctors (both general and specialists), diagnostic centres, specialty clinics, nursing homes and small to medium hospitals involved in diagnostic/health care with specializations in fields viz. radiology, gynaecology, cardiology, ophthalmology, etc. This Facility can be availed for ECG Machines, MRI Scanners, Ultrasound Scanners, C T Scanners, X Ray Machines, Colour Doppler, Linear Accelerators, Day Camera Mammography, Cathlab, Monograph X Ray Fluoroscope (Indian & Imported Machines), Ophthalmology Endoscopes etc. Imported High End Medical Equipment's like MRI Machines, CT Scan Machines PET CT Scan, Cat Labs, Ultrasound Machines, Colour Doppler, Linear Accelerators etc are also funded.

Features & Benefits

  Medical Equipment Loans
Nature of Facility Term Loan
Purpose For purchase of Medical Equipments
Funding Range Minimum: Above Rs. 3 lacs
Maximum: Upto Rs. 10 cr
Features Doorstep service, Minimum documentation & Quick processing
Pricing Competitive pricing linked to MCLR
High loans to Value 85%
Repayment period Loan is repayable in 1 – 7 years (including moratorium)
Balance Transfer/Top-up Takeover of Existing loan with additional finance
Refurbished Equip. Finance Loan facility also available for refurbished medical equipment through IBL authorised vendors

Eligibility

Eligibility Criteria Individuals/Self-employed doctors, Proprietorship firm, Partnership and Pvt. Limited companies
Hospitals, Laboratories, Diagnostic Centre, Nursing Home, Clinics-Self Employed Doctor
ITR/financials - Requirement based
Age of applicant/partner/Director- 25 to 70(at end of term)
Clean CIBIL record
Residence Stability- Owned or 3years(if rented)
Office Stability- Owned or 2years(if rented)

Documentation

Pre-approval Documentation: Medical Equipment Loans

Proof of Identity (Any One): (Passport Copy/ Voter ID card/ PAN Card etc.)
Proof of Income

  • Self-Employed: Income Tax Returns for the last two years along with computation of income, Bank Statement for last 6 months.
  • Partnership Firms: Income Tax Returns for the last two years along with the audited / certified balance sheet and P & L account with all the schedules & Annexure, Bank Statement for last 6 months.
  • Limited Companies: Income Tax Returns for the last two years along with audited balance sheet and
  • P & L account with all the schedules & Annexure, Bank statement for last 6 months.
  • In case of audited financial, ITR is not required.

Repayment
In case applicant has availed any loan, repayment for the last 12 months required - or else certificate from the existing bankers of A/c's being satisfactory or repayments to be evidenced through matching of bank Statements and repayment Schedule

Proof of Years in Business

  • Self-Employed: Affiliation Certificate with local medical associations / certificate from reputed medical house from the same city.
  • Partnership Firms: Affiliation certificate with local medical associations / certificate from reputed medical house from the same city, Copy of financial / ITR being filed for more than 3 years before.
  • Limited Companies. Affiliation certificate with local medical associations / certificate from reputed medical house from the same city, Copy of financial / ITR being filed for more than 3 years before.

Proof of Residence (Any One):(Ration card/ Telephone Bill/ Electricity Bill/ Rental agreement / Passport copy/ Bank Passbook or Statement)

Office Ownership Proof (if applicable) (Any One)

  • Self-Employed: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement, Share Certificate from the society.
  • Partnership Firms: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement, Share Certificate from the society.
  • Limited Companies: Property Tax Bill, Municipal charges Bill, Electricity Bill, Sale Agreement Share Certificate from the society

Copy of Last Degree Certificate

  • Self-Employed: Mandatory
  • Partnership Firms: of the promoter doctor
  • Limited Companies: of the promoter doctor

Equipment Details

  • Complete details of the equipment proposed to finance with the technical brochure. Performa invoice to be submitted, with all details & inclusive of excise & taxes.
  • In case of the imported equipment's, the terms of delivery to be mentioned too.
  • Undertaking from the manufacturer / registered dealer for technical / software up gradation till the completion of the loan tenor will be taken on best effort basis.

 
Others

  • Self-Employed: Repayment (if Any), Photograph, and Performa Invoice
  • Partnership Firms: Partnership Deed, Photograph of Authorized Partner, Performa Invoice
  • Limited Companies: Memorandum of Association / Articles of Association, Photograph of   Authorized Director, Performa Invoice.
  • Photograph: Mandatory.
  • Application form: Duly completed and signed by the applicant / authorized signatory for the applicant.
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  • Daily balance Upto Rs. 1 Lakh 4 %
  • Daily balance above Rs. 1 Lakh & upto (& including) Rs. 10 Lakhs 5 %
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  • Above 1 year 4 months to below 2 years 7.25 %
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