Medical Equipment Loan

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Medical Equipment Loan

Wide Range of Medical Equipment Loans

Let’s do a quick eligibility check

Your business must be one of the following

  • Specialty or super specialty Hospital
  • Nursing home
  • Diagnostic centre
  • Pathology lab centre
  • Specialty clinics (like skin and dental clinics)
  • Dialysis centre
  • Endoscopy centre
  • IVF centre
  • Educational institute - medical/paramedical college, dental college
  • Large medical equipment dealer
  • Pharmaceutical manufacturer

In addition, you need

  • Residency/office occupancy for at least 3-5 years.
  • Minimum 3 years of experience in managing a healthcare business.
  • Demonstrated repayment history for any loan over the past 12 months.
  • Bank account transaction details for the last 12 months, preferably from a scheduled commercial bank handling most of your transactions.
Medical Equipment Loan

Documentation & Contact Information

Pre-approval documents

  • Completed application form

  • Last three years’ income tax returns with balance sheet and profit & loss account for all individual promoters (if a private limited or partnership, then applicable for the company as well).

  • Last six months’ bank statements for all individual promoters (if firm, then applicable for the company as well).

  • Copy of Memorandum of Association (MOA) for a private limited company or copy partnership deed for a partnership firm. 

  • KYC documentation for all promoters/firms.

  • Track records of previous/ running loans.

  • Details about the funding requirement/ project reports.

  • Other documents as per funding needs.

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Post-approval/pre-disbursement documents

  • Loan agreement duly signed.

  • Post-dated cheques (PDCs)/ECS form/standing instruction (SI) request with security PDCs as applicable.

  • Margin money receipt.

  • Any other documents as per the sanctioned credit facility’s TERMS AND CONDITIONS.

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Post-disbursement documents

  • Original hypothecated invoice in case of healthcare finance equipment loans.

  • Insurance policy duly endorsed in favour of HDFC Bank for the assets given as security to the bank.

  • The bank will create the Asset Verification Report (AVR) within seven days of disbursement, the  charges of which must be  borne by the customer.

  • Annual site visits to be done by the bank officials. 

  • Delayed submission of documents prescribed under the sanctioned terms will attract penalties/levies as per the bank policy.

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Contact Information

Your queries resolved here

You can finance the purchase of standard medical equipment, such as CT scanners, colour dopplers, ultrasound machines, MRI machines,  X-ray machines, etc.

HDFC Bank offers high value loans, ranging in several lakhs to a few crores, after assessing your eligibility and requirements. You can get in touch with our representatives to find out the maximum loan amount you can obtain based on the requirements you fulfill.

Approval for a Medical Equipment Finance Loans can often be obtained quickly, depending on the lender's processes, your credit profile, and documentation submission. If everything is in order, you can enjoy loan disbursal within 4 to 48 hours.

A Medical Equipment Loan is a financing facility offered by HDFC Bank, specifically designed to help healthcare providers purchase or lease essential medical devices and equipment necessary for patient diagnosis, treatment, and care.

Obtaining financing for medical equipment with low credit is usually difficult as a low credit score makes you a risky borrower. Lenders prioritise creditworthiness to manage their repayment risks.

Yes, medical equipment lending loans can typically be used for equipment upgrades, maintenance, and repairs, ensuring that healthcare facilities can maintain operational efficiency and quality patient care standards.

Under healthcare finance, you can can choose a flexible repayment tenure ranging from 12 to 84 months.

Documents required to apply for Healthcare and Equipment Finance

  • Pre-approval documents for healthcare or medical equipment financing:
  • Completed application form
  • Last three years’ income tax returns with balance sheet and profit & loss account for all individual promoters (If a private limited or partnership, then applicable for company as well)
  • Last six months’ bank statements for all individual promoters (If firm, then applicable for the company as well).
  • Copy of Memorandum of Association (MOA) for private limited company or copy partnership deed for a partnership firm
  • KYC documentation for all promoters/firms
  • Track records of previous/ running loans
  • Details about the funding requirement/ project reports
  • Other documents as per funding needs
  • Post approval / pre-disbursement documents:
  • Loan agreement duly signed
  • Post-dated cheques (PDCs) / ECS form / standing instruction (SI) request with security PDCs as applicable
  • Margin money receipt
  • Any other documents as per the sanctioned credit facility’s TERMS AND CONDITIONS
  • Post-disbursement documents:
  • Original hypothecated invoice in case of healthcare finance equipment loans
  • Insurance policy duly endorsed in favour of HDFC Bank for the assets given as security to the bank
  • Bank will do the Asset Verification Report (AVR) within seven days of disbursement. Charges to be borne by the customer
  • Annual site visits to be done by the bank officials
  • Delay in submission of documents prescribed under the sanctioned terms will attract penalties / levies as per the bank policy.
  • Benefits of Healthcare and Equipment Finance
  • Access to Modern Equipment: Enables healthcare providers to acquire state-of-the-art medical equipment, enhancing diagnostic and treatment capabilities.
  • Improved Patient Care: Upgraded equipment improves efficiency and accuracy in diagnosis and treatment, leading to better patient outcomes.
  • Financial Flexibility: Offers tailored financing solutions that align with cash flow needs, allowing for predictable budgeting and operational planning.
  • Facility Expansion: Supports the expansion or renovation of healthcare facilities, accommodating growing patient demand and enhancing service offerings.

  • How to apply?

  • To apply for this service, visit HDFC Bank's official website and take the following steps: SME-> BORROW-> Loan For Specific Industry /Segments-> Healthcare Finance.

Terms & Conditions

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