Introduction
An X-ray machine is a tool that uses X-rays for several purposes. These include medication, X-ray fluorescence, digital meeting inspection, and measurement of fabric thickness in production operations. In scientific programs, X-ray machines are used by radiographers to collect X-ray pixels of the internal systems (e.g., bones) of living organisms and also in sterilization.
Why Do You Need this Loan for an X-ray Machine Purchase in the Healthcare Industry?
High Initial Expense: Digital X-ray machines, particularly modern ones, can be costly. The purchase of new and high-quality X-ray equipment can strain finances, making loans suitable solutions to cover these costs, and this is why taking a loan is a suitable solution to cover these costs without straining your capital.
Technological Advancements: It is worth mentioning that X-ray technology is continuously advanced, and modern machines produce better images, require less dose, and are more diagnostic. A loan enables you to purchase the correct equipment and keep up with the current technology; your facility must be well-equipped to cater to the needs of the patients.
Installation and Setup Costs: In addition to the purchase cost, several arise to get the X-ray machine working properly; these include installation expenses as technicians will need to calibrate the machine and fine-tune it for it to operate optimally. and this way the transition from one equipment to the other can be easily made.
Maintenance and Upkeep: The reason for maintenance is its long life and reliable nature. A loan can also feature provisions for giving you maintenance contracts that keep your equipment functioning well.
Training and Certification: The operation of X-ray machines, often requires specialized training for staff A loan can enable you to purchase training programs since your team needs to be equipped
Operational Efficiency: upgrading newer of x-ray machines can stream allowing faster, diagnosis and treatment to be done within the shortest time possible. A loan enables you to accomplish this efficiently without challenging the stretches of your wallet.
Expanding Services: If your facility is planning to expand diagnostic services,additional X-ray machines are mandatory. A loan can support these expansions to address more patients’ needs and enhance services.
Compliance with Regulations: State laws require healthcare centers use appropriate instruments, which may be tested and modern. A loan can guarantee that your x-ray machines are up to these regulatory requirements, hence no legal or operational problems.
Options for Loans / Banks / NBFCs
Banks / Nbfc | Interest rate | Loan amount | Tenure | CIBIL Score | Processing Fees |
Axis Bank Health Care Equipment Loan | 9% – 14% (Reducing Per Annum) | 10.00 Lacs – 50.00 cr | 12 Months – 84 Months | 700 or above | 0.5% – 2% |
Bajaj Finserv Health Care Equipment Loan | 11% – 14% (Reducing Per Annum) | 10.00 Lacs – 6.00 cr | 12 Months – 84 Months | 720 or above | 1% – 2% |
Cholamandalam Health Care Equipment Loan | 12% – 16% (Reducing Per Annum) | 10.00 Lacs – 5.00 cr | 12 Months – 84 Months | 650 or above | 1.5% – 2% |
Tata Capital Health Care Equipment Loan | 9% – 14% (Reducing Per Annum) | 10.00 Lacs – 25.00 cr | 12 Months – 84 Months | 650 or above | 0.5% – 2% |
Ugro Capital Health Care Equipment Loan | 12% – 16% (Reducing Per Annum) | 10.00 Lacs – 5.00 cr | 12 Months – 60 Months | 650 or above | 1.5% – 2% |
Clix Capital Health Care Equipment Loan | 11% – 16% (Reducing Per Annum) | 10.00 Lacs – 5.00 cr | 12 Months – 84 Months | 700 or above | 1% – 2% |
Profetectus Capital Health Care Equipment | 12% – 16% (Reducing Per Annum) | 10.00 Lacs – 3.00 cr | 12 Months – 84 Months | 700 or above | 1% – 2% |
General Eligibility and Document Required for This Type of Loan
Eligibility:
- Established healthcare facility.
- Good credit history.
- Able to produce steady operations and mainly financial statements
Documents Required:
- Proof of Identity: PAN card, Aadhaar card.
- Address Proof: any utility bill or rent agreement.
- Business Proof: Registration certificate, the business license.
- Bank Statements, Income Tax Returns, and Profit & Loss
Invoice of the equipment if possible or some form of quotation that will ensure the credibility of the equipment.
How Referloan Can Help
ReferLoan is one of the fastest-growing fintech companies in India. It helps to fulfill a wide range of financial needs with its banking and non-banking channels, where it connects the clients as per their requirements.
This is how ReferLoan can help!
Connecting with Lenders: Assisting you in determining the best solution in the form of a loan that would suit your preference.
Documentation Support: Being involved in the collection and providing of required documents and/or papers.
Negotiating Terms: The following are objectives that, when achieved, help the business acquire the most suitable loan terms and interest rates:
Ongoing Support: Maintaining continuous support for borrowers during the loan period.
Frequently Asked Questions
- Why Does a Healthcare Facility Require a Loan for an X-ray Machine Purchase?
X-ray machines However, they are relatively costly, and not all healthcare facilities can afford to buy them. A loan enables the facility to purchase the equipment and then pay for it progressively, enabling better management of the financial burden.
- Which Types of Radiography Equipment are Eligible for Financing?
Loans can therefore be used to avail of any form of X-ray machines, such as digital, portable, and traditional film X-ray machines. Another option is that the loan can also be provided for used or refurbished equipment.
- When looking for a device like an X-ray system, how can a facility meet the requirements for loan approval?”
The criteria for qualification are: past credit experience of the facility, soundness of the facility’s financial position, and expected revenues from new equipment. Generally, the basic documents that are likely to be provided by the business to lenders include; balance sheets, pro forma, and details on the equipment that is to be bought.
- What is the rate of interest, and what are the standard reimbursement conditions for an X-ray machine loan?
The interest rates and terms for the loans are different from one lender to another, as are the amount to be borrowed, and the financial strength of the entity that is borrowing the money. In composite, as it relates to loan terms, they can be between three and ten years, while the interest rates may vary depending on the market of operation and the policies of the lending firm.
- Will the Loan Cover Installation and Training costs?
Yes, lots of X-ray machine loans offer money for installation, testing, and staff education. This ensures that the machine is well positioned so that even the workers handling it will do that safely and efficiently.