What are the End Uses of this loan?
These loans are used for the purchase of standard medical equipment such as:
- Color Dopplers,
- Sonography Machines,
- CT Scanners,
- X-Ray Machines,
- MRI Machines
- and other varied medical equipments.
Basic Product Features
Mentioned below are some of the basic features of Medical Equipment Funding:
This is basically an asset based financing where the asset is hypothecated to the bank.
The maximum loan amount varies from bank to bank.
The tenure ranges from 12 months to 84 months.
There can be moratorium ranging from 6 months to 12 months.
The interest rate applicable depends on the merits of each case.
The maximum finance made available ranges from 70 to 80% of the quotation value/proforma invoice depending on the merits of each proposal.
Every bank requires the borrower to possess a satisfactory CIBIL score for processing the loan application.
Banks may look at minimum of 3-5 years of continued occupancy at your current residence/ office.
Borrower may need to possess repayment track records of any loan like auto/car/home for least 12 months.
The past 3 year financial performance is evaluated. The Credit team looks at the Turnover, Net Profit, Outstanding liabilities, latest Debtors & Creditors etc. They try to estimate the future business & expansion plans as well.
A personal interaction with the borrower at his/her office premises is conducted by the Credit Manager, which in banking parlance is called “Personal Discussion” or “PD”.
The assets, savings & current liabilities of the borrower is another factor.
The banking transactions over a period of one year are crucial. Banks look for clean & healthy regular transactions.
Banks and Financial Institutions offering Medical Equipment Finance
We deal with MNC, Private Sector, Nationalized & Co-operative Banks in India. We also facilitate lending from NBFCs. We do not arrange for Private Finance.
Areas of Operation
The professional consultancy fees applicable will be communicated by a “ Letter of Mandate” which will outline the terms & conditions. The work on the proposal starts once the “Letter of Mandate” is formally accepted by the client.
Loan Documentation Requirements
Click the links below to see the list of documentation for