How Business Loan for Doctors can help to expand your business

Introduction

Whenever we think of starting a business or expanding our business the first question that comes to our mind is Capital. Many thoughts start juggling through our head for our Capital needs. Our ideas come to a rest when we realise that there is no adequate money to fuel our business dreams.

Here the role of a lender comes into place. You can start with doing a market search online for various lenders who are offering Business Loans. You simply need to choose a suitable and reliable lender i.e any bank or financial institution. Then do background check of the lender for its years in business, market image and other basic investigations. Once you choose a lender approach them.

On approaching, you will be asked to submit valid documents; post verification, loan eligibility and other necessary factors you shall be granted the required loan depending on the scheme you choose. It is always advisable to settle for a lender that requires minimum eligibility criteria.

Which is the scheme for me?

Many lenders these days are crafting various types of loans and schemes to target each and every section of the society.

Unsecured Loans or commonly known as Business Loan schemes can be of various types namely Business Loan for Self Employed  Professionals and/or Business Loan for Self Employed Non Professionals.

Business Loan for Self Employed  Professionals includes Doctors, CAs and CS. And Business Loan for Self Employed  Non Professionals includes Trader, Manufacturer, Service Provider.

These Professionals can use this loan to fulfill their business expansion dreams

Discussing further about Self Employed  Professional Loan for Doctors; Doctors loan are collateral-free and help doctors to facilitate the needs such as expansion of business, upgrade equipment, set-up/upgrade clinic and manage other expenses.

Doctors Loan comes with the advantages of:

• Speedy disbursal process
• Flexible repayment schedules
• Competitive interest rates

Such exclusive doctor loans are designed for medical professionals who require instant access to finance.

How to Apply for Doctors Loan?

Apply Online: You can visit Fedfina's website. Check all the documents that  are required, check their interest rates and tenure based on your loan amount, check your eligibility, fill the application form, upload all the required documents and wait for a revert from Fedfina. Click here to Apply online

              What can Doctors use this loan for?

Benefits of Doctors Loan

• No requirement of Collateral
• Fast turnaround with loan approval
• Low interest rates compared to rates offered to other self-employed Person
• Loan tenure can be as long as 5 years
• Approval based on KYC, background checks, CIBIL score and income proofs

Qualification

Minimum MBBS/BDS Professional Degree with 3 years of Experience