If you are a doctor, setting up your own practice could be challenging. It not only requires expertise and medical knowledge but also financial support. A Doctor Loan is like a personal loan for practicing doctors. The loan can help you procure the required licenses, buy required equipment and pay for operational expenses required for the clinic. It could also help you provide better services and facilities to patients, irrespective of whether it is a general, speciality or multispecialty hospital.

Let’s consider the options where you can use your doctor loan funds for establishing your practice:

Buy Advanced Medical Equipment

Each speciality requires different equipment, which will constitute a major chunk of your budget. An orthopaedic doctor will require radiation equipment, whereas an ophthalmologist will require refractors and lensmeter. For a speciality clinic, advanced equipment is a necessity. One of the benefits of availing a doctor loan is that it provides capital of up to Rs.30 lakh without any collateral or security.

Pay for Lease or Land and Construction

Depending on whether you choose to lease an office space or buy a land and construct your clinic, the costs incurred will vary. While leasing an office space, a hefty sum of money must be paid upfront as a deposit. If you choose to buy a land, then you must ensure that it is not an agricultural land and that the paperwork is in order. Registration costs and constructing a clinic or hospital will require a lot of capital. Also, an occupational certificate must be obtained before opening it for patients. Before choosing the location, you should also consider the competition that you could face from other hospitals and clinics in the vicinity.

Employing Staff

Having a skilled labour force is vital to run a successful medical practice. Your clinic will require a receptionist, an accountant, a few nurses and probably a pharmacist. It is crucial to not compromise on money, and focus on hiring the right people. You must perform a background check and verify their credentials before employing them. A Doctor Loan can assist in paying employee salaries and hiring fresh talent.

Buy Other Necessary Equipment

Medical infrastructure such as air conditioning, ambulance, intensive critical unit, hospital beds and CCUs are expensive. However, they are necessary to offer the best facilities for patients. Doctor Loans have flexible repayment tenors, ranging from 12 months to 60 months which are helpful when availing a loan for a large amount.

Also Read : Doctor Loan for Purchasing Medical Equipment to Start a Medical Practice


When starting out, you need to reach a maximum number of patients. You need to let them know about your clinic. Therefore, you need a marketing strategy in place. It is recommended that you hire professional agencies to help you. Advertisements in local newspapers, radio channels, billboards, digital and social media marketing are costly but have the potential for high returns. You could use a Doctor Loan with competitive interest rates for funding your marketing strategies.

Use it as Working Capital

While budgeting, one usually tends to accommodate daily expenses required for smooth functioning of the hospital/clinic. You could use the Doctor Loan’s Line of Credit facility to manage cash flows help your practice grow.

Bottom Line:

Setting up your own hospital/clinic is a noble job; however, it is a daunting task. Doctor Loans can get you the financial support you need and help you move forward in your career.

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