Loan against Hospital Property
Hospital loan is a long term secured loan offered by banks & financial institutions to doctors for any of following purposes
- Purchase of property for hospital or clinic or Nursing home
- Purchase / Takeover of existing hospital
- Loan against mortgage of hospital or clinic property
- Loan to construct hospital building
- Loan to purchase Medical equipments
What is Loan against Hospital Property?
Healthcare business is always in need for funds for various purposes. It can be either be for working capital needs to meet day to day operational expenses, up gradation of medical equipments, to meet increased work load or to purchase new premises for hospital or clinic. With our 10+ years of expertise in SME Finance, we understand needs of healthcare business thoroughly & we are better equipped to extend customized solutions for our clients. We arrange Doctor loan up to Rs. 25 Crores for our clients in healthcare business, from our lending partners, with the help of this technology enabled platform.
Following loans are available for Doctors, Hospitals, Clinics & Labs :
- Doctor Loan in form of unsecured business loan up to Rs. 3 crores.
- Hospital Loan by mortgage of Hospital Property, Nursing home, Clinic, Commercial property, Residential property, Plots etc up to Rs. 25 crores.
- Loan for purchase of new or Refurbished medical equipments without security upto Rs.5 crores.
- Collateral Free Loan against medical equipments, purchased within 12 months upto Rs. 5 crores.
- Property Purchase loans up to Rs. 25 crores.
- Purchase or takeover of other Hospital.
- Loan against rental income from leased properties, also called Lease rental discounting (LRD) up to Rs. 50 crores.
- Refinance and Debt consolidation loans up to Rs. 25 crores.
Eligibility Criteria
All the bank or NBFC have their own loan eligibility criteria but there are some common loan eligibility criteria which borrower has to fulfill to avail loan against industrial property from bank or NBFC.
Following are some key important factors which would be checked by bank or NBFC to accept or reject the loan against industrial property application:-
- Age:At the time of loan against industrial property application, applicant must be 21 years or above but not more than 65 years because repayment of the loan has to be completed on or before 65 years of borrower age.
- Business Continuity:Bank or NBFC checks business continuity of an individual or company who is applying for loan against industrial property. An individual or company should be in the business for at least 3 years. A regular source of income, ensure the lender regular repayment of their loan EMI.
- Cibil Score:A loan against industrial property borrower who is having good cibil score will get quick loan from the bank or NBFC. Cibil score is a decisioning factor for sanctioning or rejecting loan against industrial property applications.
- VALID, CLEAR AND MARKETABLE TITLE DEEDS OF PROPERTY: A loan against industrial property borrower must be having valid, clear and marketable title deeds of entire chain of the property along with approved sanction plan or map. The ownership and physical possession of the property lies with the borrower only.
Documents required
- 2 Years Financials with IT Return, Computation
- Last 12 months Bank Statements
- Existing Loan Sanctions letters & Loan Statements
- MOA/ AOA / Partnership Deed / MCA Registration
- Highest Degree Certificate
- KYC of Firm & Directors / Partners
- Property Documents
