Objective
To meet the financial requirements of professionally qualified Doctors/Medical Practitioners.
Purpose
- For setting up/ acquiring/ construction of new Hospital/ Nursing Home/ Clinic/Pathological Laboratory, Diagnostic Centre, Physiotherapy Centre, etc.
- For purchase of already built premises for Hospital/ Nursing Home/ Clinic, etc. OR purchase of site & construction of Hospital/ Nursing Home/ Clinic, etc.thereon within one year from the date of purchase.
- For purchase of Furniture & Fixture/Expansion/ Renovation/Modernization of the existing Hospital/ Nursing Home / Clinic/ Pathological Laboratory, Diagnostic Centre, Physiotherapy Centre, etc
- For purchase of medical equipments,surgical instruments, diagnostic tools includingX-Ray, CT Scan, etc. and office equipmentsincluding OT equipments, computers, UPS, air conditioners, etc.
- For purchase of vehicles, ambulances/lifesaver ambulances, etc. required for the profession.
- Working capital requirement for meeting recurring expenses/stock of medicines/ consumables etc.
Eligibility
- Individuals/ Proprietorship concerns/ Partnership firms/Companies engaged in providing medical/pathological/ diagnostic & other healthcare services where minimum 60% of the shareholding/stake is held by qualified doctors.
- Qualified Doctors & Registered practitioners should have minimum qualification of MBBS, BHMS, BDS, BAMS, BUMS, BPT, BoT from a recognized institution.
- The practicingdoctor(s)/practitioners should be in the age group of 25 to 60 years with a minimum experience of two years. In case of joint borrowers, themaximum age of applicant shall not exceed 70 years, unless the co-applicant has perpetual income to service the loan.
Nature of facility
Term Loan/Working Capital
Quantum of loan
- For Hospital Premises/ Equipment Loan: Need based
- For Vehicle Loan: For purchase of ambulance, van & other vehicles as per the requirement of the Project
- For Working Capital: To be assessed as per the Project Report.
The maximum quantum of loan should not exceed Rs.5.00Crore.
Margin
• Minimum 25% of the Unit Cost/ ProjectCost / Stocks& Book-debts.
Repayment Period
For Working Capital: 12 months subject to renewal after review. The renewal proposal, complete in all respects, should be submitted to the sanctioning authority not later than nine months from the date of advance.
Security
Primary:
Collateral:
For Loans above Rs.20.00 lakh
- Personal guarantee of Promoter/ Director(s) in case of Companies
- Third Party Guarantee of two persons of sound means, good for the loan amount & acceptable under Bank norms.
- Mortgage of Land & Building/ Premises of Hospital/ Nursing Home, etc. having sale value equivalent to more than 100% of the loan amount/ total exposure..
(As per the RBI guidelines, no collateral security should be obtained for loans up to Rs.10.00 lakh under MSE Sector.)
Processing Charges
0.50% of the loan amount.