Medical shop loans are essential for pharmacists and healthcare entrepreneurs to enhance infrastructure and services. They cover various needs like equipment, medicine stock, renovations, technology upgrades, and working capital for smooth operations and inventory management, crucial for growth and success.
Buddy Loan offers business loans for medical store & pharmacy business to expand operations for procuring medicines and essential medical equipment.
The interest rates for loans for medical shops can vary based on lender to lender:
Interest Rates | 11.99% p.a. Onwards |
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An EMI Calculator for Medical Shops, is designed to assist pharmacists and healthcare entrepreneurs in estimating their Equated Monthly Instalments (EMIs) for financing their pharmacy businesses.
Using an EMI calculator is simple, by inputting few details such as:
By using an EMI calculator, medical shop owners can estimate their loan payments to manage finances effectively and ensure business success.
When opening or expanding a medical shop, planning and financial support are crucial, but comparing loan providers can be overwhelming due to the diverse options available.
The table below provides a list of all the lenders that will help you get a medical shop loan:
Bank & NBFC | Interest Rate (p.a.) |
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State Bank of India (SBI) | 11% onwards |
ICICI Bank | 10.5% onwards |
HDFC Bank | 10.50% onwards |
Axis Bank | 9% onwards |
Kotak Mahindra Bank | 9.25% onwards |
IndusInd Bank | 9.5% onwards |
Lendingkart | 12% onwards |
Yes Bank | 9.75% onwards |
RBL Bank | 10% onwards |
AU Small Finance Bank | 10.5% onwards |
Capital Float | 16% onwards |
ZipLoan | 12% onwards |
Bandhan Bank | 11% onwards |
Mahindra Finance | 18% onwards |
FlexiLoans | 12% onwards |
Bajaj Finserv | 16% onwards |
Aditya Birla Capital | 18% onwards |
Tata Capital | 16% onwards |
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Note- The interest rates mentioned are subject to change. Do visit the website for more information.You can avail a business loan as per your need for dairy farm. Buddy Loan provides you with a pool of RBI approved lenders, providing business loans of upto 50 lakhs.
Check the steps below and apply for a loan now!
Securing financing for a medical shop is crucial for pharmacists and healthcare entrepreneurs aiming to establish or expand their businesses. Here are some basic requirements required to be eligible for medical shop loan:
Basic Requirements:
Securing a loan for your medical shop requires fulfilling specific eligibility criteria and submitting essential documents. To streamline your application process, here's a comprehensive guide:
Personal Documents:
Business Documents:
Financial Documents:
When seeking financial support for your medical shop, understand the different types of loans. Here's a breakdown of some commonly offered medical shop loans:
1. Term Loans:
2. Working Capital Loans:
3. Equipment Finance:
4. Line of Credit:
5. Government Schemes:
Acquiring a loan for your medical shop can be difficult. However, with some help, navigating the application process can be easier. Here are some key tips to boost your chances of securing a medical shop loan:
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Medical shop loan interest rates vary significantly (8-20%+), depending on lender, loan type, amount, creditworthiness, and government schemes offering subsidies. Research specific options for the most accurate estimate.
Maximum loan amounts for medical shops vary greatly (thousands to lakhs) based on type, lender, creditworthiness, and project.
Medical loan repayment spans months to years (varying with type, lender, amount, and your finances), so research options for tailored estimates and choose a comfortable term.
Medical loan interest rates depend on loan type, lender, amount, your credit, collateral, and government subsidies.
Yes, medical loans often come with associated fees like processing fees, documentation charges, prepayment penalties, and late payment fees.
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