Why Should Medical Practitioners Opt For Doctor Loans

Features of doctor loans 

• Meets your personal and professional needs: It can be used for business-related investments like buying specialized equipment for the clinic or for a more a personal reason, like enrolling in a short-term course overseas.

• Offers higher loan amounts: Compared to conventional personal or business loans, doctor loans offer a higher loan amount. However, the amount differs from one doctor to another as there are other parameters that are considered before deciding the amount. 

• Minimal documentation: Since doctor loans are custom-made for each applicant, sometimes you just need to provide your educational qualification and work experience certificates to get the loan approved.

• Quick approvals and disbursals: Because of online processes and easy documentation, approvals move quickly and loans are disbursed instantly.

Why should you opt for Doctor Loans ?
 

1. Meet the needs for your clinic/ diagnostic lab/hospital - As mentioned earlier, any doctor, clinic, hospital or diagnostic centre needs the most advanced equipment to accurately diagnose diseases and conduct treatments. This loan can help you meet that need.

2. Maintain inventory stock for day to day needs - Apart from sophisticated equipment for MRI, X-Rays, and CAT Scans, there is a regular requirement of gloves, gowns, cotton, syringes, gauze, sample containers, etc. The loan can help in maintaining the inventory stock for daily requirements.

3. Get instant loan for doctors based on your profile - Since the loans are given as soon as possible without asking for too many documents, it’s a boon for those who need instant funding. 

4. Right equipment improves accuracy for patient care and speeds up diagnosis- This loan can help you provide the right treatment for your patient through latest machines, with least chances of error. Also, with this loan, you can purchase the latest devices that can quickly and accurately diagnose diseases, so that treatment can happen on time.

5. Stay a step ahead with new technology: You can take this loan to stay ahead of competition with the latest technological advancements like Doppler machines, dental chairs, robotic systems etc.

6. Offer superior treatment with latest machines – Buying the latest machines with a doctor loan can help you provide better and more effective treatment to your patients, which will show results in a shorter time.

7. Identify new areas to set up clinics/hospitals/labs - Once a clinic or hospital has the right and the latest equipment, it can consider expansion and use the loan to set up a new facility in a new area without running into debt. A doctor loan can meet all your expansion needs from building a new clinic, hospital to buying new machines and enhanced equipments.

8. Get complete support for your clinic/hospital – Besides using the loan for physical expansion of a clinic or the purchase of new equipment, doctors can use the loan to meeting expenses like hiring and training new staff as well as paying salaries. Hence, all the working capital needs can be also be met by doctor loans.

As a medical professional, if you are looking to buy the latest medical equipment and planning to expand your business, then going for a doctor loan would be a better option compared to conventional loans. With flexibility regarding collateral and documentation process and a fast disbursement policy, it’s the best bet for doctors looking for quick funding.