If you are a doctor and have attained a medical degree, have garnered some experience in the field, then it’s understandable if you wish to start a medical practice of your own. It’s an excellent way for you to attain some much-needed experience as a self-employed professional without any limitations. You may start your own practise as a side business or a specialized full-time opportunity..
However, there’s only so much you can accomplish with a small initiative. In today’s times, with state-of-the-art modern technologies and advancement in medical equipment, sooner rather than later, you may face a pressing need.
Cater to the ever growing needs of you patients by investing more money in your medical practice.
After all, there are several requirements before expanding a medical practice that you need to be aware of. One such requirement is the need to purchase the latest high-end equipment – something that can prove to be quite intimidating at first glance due to the high level of costs involved.
Thankfully, you don’t need to delay or forgo your expansion plans just yet – you can opt for a medical equipment loan to finance the purchase of advanced healthcare equipment instead. Here are some of the benefits of taking this loan that makes it the perfect solution for you – or anyone else, for that matter – who wishes to start or expand their medical practice.
A flexible option
When it comes to taking healthcare equipment, there are two options that you can go for – either a one-time purchase or an equipment lease. Regardless of what you might go for, these loans are flexible enough to accommodate any of these options. When it comes to a lease, most institutions fully cover the lease amount. Meanwhile, loans to purchase medical equipment cover up to 90% of the total cost.
Personalised repayment options
The loan you’ll take to fund the purchase of your healthcare equipment can be taken for a period of anywhere from 12 to 72 months (or otherwise, depending on the loan provider and your financials). Do keep in mind that a shorter loan tenure will lead to a decrease in your total interest outflow, at the cost of increased EMI payments. Consequently, longer loan tenures lead to smaller EMI amounts which might help you efficiently manage your EMI payments, but at the expense of a higher outflow of total interest.
A convenient financing instrument
The best part about taking a business loan to finance healthcare equipment is the comfort and swiftness with which you can get these funds – especially if you use a digital platform. If you have the documentation with you – which is not that extensive, to begin with – then the application process is completely hassle-free, allowing you to expand your medical practice with the greatest of ease.
The dream to start a medical practice is always in the mind of anyone who wants to make it big in their field. Of course, this dream isn’t a small-scaled one, and you will face the need to expand your medical practice as soon as possible. While the task of procuring a sizeable level of funds required to fund this expansion might seem impossible at first glance, there’s always the option for you to take a loan that will help you obtain the money required to fund your healthcare equipment needs. The flexibility, convenience, and personalised nature of this financing solution mean that you’ll be able to provide your customers with the best-in-class medical services.
To know more about eligibility and the documents required for you to avail a Healthcare Equipment Finance / Loan, click here.