Loan Against Property
Unlock the value of your property to meet your financial needs with ease.
Working Capital Loan Purpose
✔ To finance qualified medical practitioners for setting up Clinics/ Nursing Homes/ Hospitals.
✔ For setting up Hospitals/ Nursing Homes, Diagnostic Centre, Pathology labs, drug store/ medical store, ambulance, computers, vehicles, physiotherapy centres, ayurvedic centres, acupressure centre, yoga centre, other therapy centres under tie-up with/ employed qualified doctors.
✔ For Expansion/renovation/ modernization of existing premises.
✔ To provide finance to manufacturers of healthcare products/ permitted drugs/ medical equipment’s.
Features & Benefits
Target Group
- Hospitals/ Nursing Homes/ Clinics/ Medical Colleges
- Diagnostic Centres and Pathology Laboratories
- Eye Centres, ENT Centres, Small and Medium size specialty clients like skin clinics, dental clinics, dialysis centres, endoscopy centres, IVF centres, poly clinics, X-ray labs, Yoga Centres etc.
- Manufacturers of healthcare products/ permitted drugs/medical equipment’s.
Facilities Available
- Term Loan and/or Cash Credit
- Cash Credit facility is capped at Rs. 5 Cr only
- Capex LC may be provided in respect of domestic/ overseas suppliers within overall Term Loan exposure
Quantum of loan
- Minimum loan amount: > Rs 10 lacs
- Maximum loan amount: Rs.50 Cr[Loan amount above Rs.50 Cr may be permitted on a case-to-case basis]
Pricing
- Attractive Interest rates based on rating of the Borrower/ External Rating or as per Scheme Specific Rating (if applicable) or as per extant guidelines of the Bank. EBR (Linked to Repo Rate and Currently EBR is Repo Rate + 2.65%) linked (for MSMEs) & 6 months MCLR linked (for Non-MSMEs)
Borrower’s Margin / Contribution
- TL- 20%, CC- 25%
Repayment Period
- Cash Credit: Yearly Renewal. Repayable on demand.
- Term Loan: Maximum period of 10 years including moratorium period. Maximum moratorium 18 months. However, in case of Equipment finance maximum moratorium will be 6 months only.
Processing Fee/ Upfront Fee
- As per Bank Guidelines which will be appraised to the borrower before sanction of loans.
Other Charges
- As per Bank Guidelines which will be appraised to the borrower before sanction of loans.
Special Feature
- Individuals/ Proprietorship Firms/ Partnership Firms/ Corporates/ Trusts (with powers to borrow) are eligible under this product.
- Applicant should have minimum 2 years of operations of the diagnostic centre, pathological lab, hospital, nursing home, etc. irrespective of constitution. (Experience certificate/ Registration/ Licences need to be obtained and verified to establish the experience of operations of the proposed activity.)
- In case of financing to Hospitals/ Nursing Homes/ Clinics, the promoter should have required minimum qualification in the relevant discipline; like MBBS, BDS, BHMS, BAMS.
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