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Medical Equipment Loan

Expand your business and enhance your facilities with collateral free Medical Equipment Loans designed especially for doctors. This MSME finance provides a long term funding against the medical equipment purchased.

  • Purpose: Used for acquiring essential medical equipment like MRI machines, ultrasound devices, surgical instruments, and diagnostic tools.
  • Eligibility: Available to hospitals, clinics, and individual healthcare practitioners, including doctors and dentists.
  • Loan Amount: Typically ranges from a few thousand to several million dollars, depending on the equipment's cost and the borrower's needs.
  • Secured Loan: Often secured by the purchased equipment, which can lower the interest rates compared to unsecured loans.

165+

YEARS OF EXCELLENCE

3.8+ Cr.

ACTIVE CUSTOMER BASE

1300+

BRANCHES ACROSS INDIA

₹3.9 Lakh Cr.

AUM AS OF JUNE, 2023

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Reasons to Buy your Medical Equipment Loan from NGCFCL Finance Limited

No Branch Visits


  • No Branch Visits

    Apply from home and our team will collect the required documents from your home or office for a seamless experience.

Collateral-free Loans


  • Collateral-free Loans

    Get the loan without the need for collateral. Share key details and receive instant approval for business growth.

Instant Loan Disbursal


  • Instant Loan Disbursal

    Get instant disbursal, thanks to our efficient online processing

Convenient Online Application


  • Convenient Online Application

    Apply online in just three simple steps. No need to wait for months or go anywhere.

Tailored Repayment Options


  • Flexible Tenure

    Tailor your repayment plan to suit your financial goals with our flexible tenure options, ranging from 12 to 36 months.

Medical Equipment Loans Features and Benefits

Eligibility Criteria for Medical Equipment Loan

Go through the financial and non-financial eligibility criteria explained below to make your loan application process easy:
Non-Financial Eligibility CriteriaFinancial Eligibility Criteria

25-67 years old 

For > Rs. 10L, GST Turnover > 2cr** 

Established for a minimum of 2 years 

Business profitable for 2+ years 

CIBIL score should be 680 or higher 

No LIVE Overdraft facility    

Office set up with name board 

6 months bank statement*** 

On-time GST3RB and GSTR1 filings   

Active and regular GST for more than Rs. 5 Lacs* 

Documents (Digitally fetched) Required for a Medical Equipment Loan

Completing the Medical Equipment Loan applications carefully is crucial for entrepreneurs to increase their chances of approval. So, what are the documents required for a Medical Equipment Loan? Here’s the list of documents required for a Medical Equipment Loan application for different types of businesses:
Type of Loan DocumentsSole ProprietorsIndividual Business Owners

Current Account Bank Statement for the Last 6 Months

The entity name on the bank statement should match the name on the business proof submitted.

The business owner's name on the bank statement should match the name on the business proof submitted.

Business Proof Documents

1. GST Form

2.1. If the GST Form is >= 24 months old, either an Udyam Registration Certificate (URC) or any 1 of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

2.2: If the GST Form is less than 24 months old, then URC is mandatory

1. Udyam Registration Certificate (URC)

2.1. If the Udyam Registration Certificate is less than 24 months old, any one of the following documents needs to be submitted:

  • FSSAI
  • Shop Act License
  • Medical Council of India
  • ICAI – Certificate of Practice
  • ICSI – Certificate of Practice
  • Import Export License

Note: The issued date of the document chosen from this list should be >= to 24 months.

KYC Document

  • Aadhaar Card
  • PAN Card
  • Aadhaar Card
  • PAN Card

FAQ's

A. We offer Medical Equipment loan to individuals, proprietorship firms, partnership firms, LLP, pvt. ltd. companies, unlisted public companies, society and trust.
Eligible profiles are MBBS, BDS, MDS, MS, DM, diagnostic centres, hospitals, pathology labs, nursing homes, clinics, medical college, etc.

A. We offer competitive interest rates for our loan facilities. The interest for each loan is determined based on assessment of your business profile, past track record, financial records, loan amount required and tenure of loan.

A. Repayment shall be in monthly installments, including principal and interest.

A. The type of equipment funded under this loan are diagnostic equipment, imaging equipment, therapeutic and treatment equipment, life support equipment, medical monitors, pathology equipment, original equipment manufacture and refurbished/pre-owned machines.

A. Minimum business vintage required for Medical equipment loan is 2 years.