Eligibility

• Preferably, Qualified/Registered individual medical practitioners recognized by Indian Council of Medical Research, including dental surgeons, Polyclinic, Allopathy, Ayurveda, Physiotherapist, Homeopathy, Unani having practical experience of carrying of the medical activity, Siddha Medical practitioners registered with State or Central Siddha Medical Council.
• It is not necessary that the directors of the Company/LLP, Partners of firm & Trustee of trust be a medical practitioner or from the medical field. However, they should have on roll or on contract registered & qualified medical practitioners.

Purpose

• To set up new hospitals/nursing home/clinic or for acquiring equipment for new & existing hospital/nursing home/clinic or for repair and renovation of existing hospitals/nursing home/clinic or construction of new hospital/nursing home/clinic or for expansion of existing hospital/nursing home/clinic or for purchase of equipment's/ambulances/vans and cars for such medical practitioners and working capital requirements.
• To finance hospitals empanelled under Pradhan Mantri Jan Arogya Yojana (PM-JAY) or under other insurance etc. against receivables.
• To finance Diagnostic Centres, Pathologies, Laboratories, Dialysis Centres, IVF Centre & Siddha.

Loan Amount

• Minimum: Rs. 3.00 Lakhs and Above.

• Maximum: No Limit.

Margin

Term Loan:

• 15% for purchase of new equipment's/ machinery/vehicles.
• 25% for purchase of hospital land & building, construction of new building and renovation of existing building.
• 50% for purchase of old equipment's/ machinery/vehicles.

Cash Credit: 25% against Stock and Book Debts up to 120 days.

BG (Financial): 25%.

BG(Performance): - 10%.

• LC (I & F): 10%;

Rate of Interest

For Internal Rated account: -

➤  There is a concession of 0.50% in the Rate of Interest as mentioned above for women borrowers or firms/companies where at least 51% of the shareholding and controlling stake is held by woman/women. 

➤  There is a concession of 0.50% in the Rate of Interest as mentioned above for opening new hospital/Nursing home/Clinic in Rural/Semi Urban Center.

➤  There is a concession of 0.50% in the Rate of interest as mentioned above for Gen Next Borrowers (Age 18 to 35 years).

In Case of woman borrower or Gen Next Borrower of Age 18 to 35 years or Woman Gen Next Borrower of Age 18 to 35 years establish a new Hospital/Nursing Home/Clinic in rural/semi urban center, they will get max. 0.50% concession in ROI.

In Case of woman Gen Next Borrower of Age 18 to 35 years establish a new Hospital/Nursing Home/Clinic in urban/metro center, they will get max. 0.50% concession in ROI.

Security

Prime:

• WC Limits-Hypothecation of inventory and book debts and charge on current assets.
• Term Loan-Charge on assets procured out of term loan/mortgage of land and building to be obtained where loan for construction of building/purchase of land & building/ renovation of existing building are extended.
• Letter of Credit-Documents of title to goods.
• Letter of Guarantee-Counter Guarantee of the borrower.

Collateral:

• No collateral security is required if the entire loan amount is covered under CGTMSE scheme.
• Hybrid security is permitted under the Scheme and under the hybrid scheme minimum 25% collateral security of the exposure excluding CGTMSE covered exposure is required.

• Minimum 25% collateral security is required in all other cases.

Repayment Period

• Cash Credit: Yearly renewal. Repayable on demand
• Term loan:

➤  Maximum period of 15 years including moratorium period loan given for Construction of Hospital/Nursing Home/Clinic or Renovation of Hospital/Nursing home/Clinic or Purchase of Hospital/Nursing home/Clinic.

➤  Maximum period of 7 years excluding Holiday period for purchase of Equipment/Machinery/Vehicles.

Maximum moratorium:

➤  24 months for Construction of Hospital/Nursing Home/Clinic.

➤  12 months for purchase of Equipment/Machinery/Vehicles or Renovation of hospital/Nursing home/Clinic or Purchase of hospital/Nursing home/Clinic.

• Interest debited every month should be serviced as & when debited including interest debited during the moratorium/holiday period.

Other Conditions

• Applicants should be KYC compliant.
• Availability of Udyam Registration Number is mandatory.
• All required statutory approval must be available before sanction of the credit facilities. (License, building plan approval, permission for construction/renovation, other applicable approvals etc.)

For more details of the scheme kindly contact the nearest branch.