Business Loan for Medical Store & Equipment
As medical technology advances and buying power of people increases, more Indians are accessing medical services, the key to which are medical stores. With medicines seeing around 17% inflation each year, medical stores have seen exponential growth during the last ten years, and show no sloth.
Medical stores are now promising business avenues for small business owners and entrepreneurs alike. Now getting a business loan for the medical store has become easy and seamless with Lendingkart. We at Lendingkart can help you receive financial infusions on-demand and hassle-free.
Why Choose Lendingkart?
To prosper in this day and age of competition, your financial plans need to be well-thought-out. Lendingkart is the financial partner who understands your needs and helps you grow likewise, with start-ups, growth needs and working capital, at the right time and opportunity, so that you are never short on funds.
Medical Store & Equipment Benefits of Choosing Lendingkart:
1. Paperless Product Solutions:
Never lose your papers again. Upload the relevant documents online, and your loan will be sanctioned upon matching the criteria.
2. Minimal Amounts of Documentation:
Balance sheets, audit reports, internal data, none of this is needed.
3. A Business Loan That is Collateral Free:
For thriving medical store businesses with yearly turnovers of over ten lacs, you need no collaterals.
4. Quick And Seamless Disbursement of Loans:
Upon meeting the necessary criteria, you are eligible to receive funds straight within your bank a/c, within a timeframe of three days.
5. No Hidden Charges or Fees:
Interest and handling fee are transparent. There are no prepayment charges, and the EMI’s are easy to pay back.
LendingKart takes pride in solving real business problems related to medical stores’ opening, growth or reorganisation.
Business Loans for Medical Stores/Equipment Are Offered Under Following Categories:
- Applicants applying for an amount more than Rs. 50,000, generally start-ups or micro-business owners.
- Applicants applying for an amount that is in between Rs. 50,000/- and five lacs, generally meant for existing business owners looking for growth and proper establishment through additional funds.
- Applicants applying for an amount that is in between Rs. five lacs to two crores, generally with established business setup, but require more money regarding the modernisation or expansion.
Required Important Documents:
For you to get financial assistance from Lendingkart, to start, expand or better establish your medical store, you will need the following documents:
- Aadhar Card
- PAN Card
- Photo and Residential ID such as Voter Card, Passport, Driving Licence
- Age Proof Documents
- Bank Details
- Non-Defaulter Certificates
- Business Partnership Details
- Shop Registration Details
- Project report
- Current Sales
Since most of the traditional lenders need collaterals and a whole lot of documents small businesses, such as retail, medical stores, cannot fulfil their eligibility criteria and have to face rejections while applying for the loans.
Lendingkart’s customer-friendly, short term business loans, help to provide for easy credit to the small businesses.
While being a driving force in the financial inclusion for small businesses in India, Lendingkart provides business loans to many small businesses with a focus on their expansion and growth. Our extensive use of cutting-edge technology to simplifies your process of the loan application and the time of turn-around.
Our policies are customer friendly, and they led to sustained growth in the past years, as we continuously strive towards building lasting relationships with the customers. Customers are the real partners in the growth story of Lendingkart, and we sincerely believe in mutual progress.
|Rates of Interest||Customized to 15 – 27%|
|Fees for Processing||One-time fees of 1-2%|
|Tenure of Loan||Up to 2 years|
|Charges for Pre-closure||None|
|Criteria for Eligibility||More than Rs. 90,000 turnovers for minimum three Months|
|Amount of Loan||Rs. 50,000 – Rs. 1 Crore|
|Instalments for Repayment||Monthly/Bi-weekly (Flexible)|
In What Ways Will Your Business Loans for Medical Stores Help You?
- If you are starting up with a small medical shop, depending upon the size of your store, the stock of medicines, location and the monthly rent, your loan amount should be around Rs. 40k to Rs. 80k.
- In case your shop is already there, but you lack in financial capacity to restock or re-furnish, you will need somewhere between Rs. 1 to 2 lacs depending on the total cost of furniture, fittings, computer, database management software, refrigerator, and medicine stock.
- If your dream is to re-establish your extant medical shop with the state-of-the-art technical equipment along with impressive stocks of innovative medicines, you have to look for loan amounts as big as your dream, which will be between Rs. 5lacs to 2 crores.
How to Apply for Loans at Lendingkart?
- To apply for loans at Lendingkart, via line of credit or term loan, to start-up or grow your medical store; first,you must log on to the official site of Lendingkart via the register/login button.
- Then you need to fill in the relevant details for the primary registration as a new user. As a new user, you need to fill in the personal details as well as the business-related details regarding your medical store. You must mention the type of shop you are applying for and the name of the shop and registration number.
- Upon finishing this step, you receive your login credentials in your registered e-mail and phone number. Note your User ID and password down as these will be needed for you to log in every time.
- After the email verification and the receiving of these credentials, you need to log on again for filling in the real application form for loans. This is the elaborate part, but don’t worry, it’s paperless, and all you need are scanned copies of relevant documents.
- Here you put in the relevant documents mentioned above.
- In the last step is your declaration to abide by the terms and conditions of Lendingkart, and then you can press the “Submit” button.
- Remember that it is in Lendingkart’s sole discretion whether it will sanction the application.
- Once your application is verified, your line of credit or term loan is passed and sent to your account.
Lendingkart will offer you unsecured and secured business loans, that too at lucrative interest rates and customer-friendly, reasonable terms. Do get in touch with us. Scientific evaluation through algorithms ensures proper evaluation of your application and swift disbursal of the loan amount.
Lendingkart is operational during business hours, through many channels. Feel free to call us, email us, drop us a PM via the website, real-time chat with the customer support or WhatsApp us.