Synopsis Of Doctor Loans Available For Medical Practitioners
Doctor loans are given to medical practitioners so as to enable them meet their financial
requirements to set up a clinic and get equipments installed to start their practice. This is a business support extended by financers to physicians who are in need of some kind of backing to get started with their medical profession. Even existing practitioners may need this grant to open a new laboratory to examine their patients. Following are the grounds where physician loans gains in importance.
Development of Clinic
Having a clinic is the first step toward initiating a medical profession. So, newly qualified doctors would need some funds to start a chamber. For this, they can approach a lender in their area that can be a bank or a private financer. So, on receiving the money they can either buy a clinic or possess one on lease. It settles them as a well-known practitioner.
Purchase of Diagnostic equipments
For financers, this business funding is just another form of small
business loans . So, the grant is kept quite extended. It means that the grant money is fair enough to buy expensive diagnostic equipments that are mandatory in the medical profession. The money can be utilized to buy off machines and equipments that otherwise may seem quite impossible for a professional.
Setting of Operation theatre
The setting up of an operation theatre requires precision, installation of expensive equipments, and quite a huge investment. So, loans become necessary for setting up an operation theatre. A doctor should state his requirements and the time-frame within which he will be able to make repayments. Then applications can be forwarded to a bank for loans. The lending officer scrutinizes the application and if found eligible, grants are made available.
Buying Office equipments
Office equipments like computers, intercoms, cams, air conditioners, furnitures may be essential for operation of a clinic. Doctors need to buy these accessories and so have to apply for grants from financers. The fund made available by bankers provide the opportunity to purchase necessary equipments so as to make the chamber look sophisticated. It helps to establish a system and keep operations in order.
Getting Cars, Ambulance Ready
Having cars or an ambulance is also required to commute serious patients from home to clinic. So, to buy an ambulance too requires money and the doctor has to invest in it for providing convenience to the patients. Facilities such as an ambulance, brings reputation to a hospital, and patients would like to visit the clinic for their treatment. So, to get an ambulance ready is quite necessary for a medical professional.
Modernization of Existing Premises
For a doctor who has some years of experience and has been operating an institution for quite some time may be faced with the requirement to modernize a premises. This is what generates the need to find grants so as to refurbish and decorate an existing chamber. When new equipments are installed, patients start thinking that the doctor has all sophisticated equipments to treat them well. So, they pay visit to the clinic for treatment of their disease.
Working Capital Requirement
After opening a clinic, doctors also need working capital to pay salaries of employees and meet other laboratory expenses. For this reason, there is the need to borrow
doctor loans so as to ensure smooth operation of the chamber. When the doctor starts to earn profits, then repayment of the borrowed amount can be made.
by: Raj Tulsan
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