Medical Finance is a loan company specializing in providing online loans to doctors, hospitals and various types of medical facilities. It is also an authorized representative of Siemens Finance – a world leader in the field of financial services.
For many years, she has been cooperating with Suppliers and Manufacturers of medical equipment, and as she claims, the partnership is the most important thing in her contacts. Medical Finance’s offer is certainly unique because it is strictly focused on the medical industry.
They do not lack a variety of packages of financial solutions that are primarily to provide the opportunity to invest in innovative medical equipment, restructuring or infrastructure. All this is mainly due to market knowledge. What exactly does Medical Finance offer? And who exactly can use it?
How to take a loan in Medical Finance?
To take a loan from Medical Finance, you must complete the relevant application, which is available on the company’s website. In the side menu, you can find a separate application for private offices, medical companies, and hospitals.
Depending on the facility, you must select a specific application and then complete it by completing all fields. Importantly, the whole process is done online. Much depends on the type of financial support that the borrower chooses.
Who can take a loan from Medical Finance?
The loan in this loan company was created for doctors, hospitals, medical companies, and private offices. Simply put, this is an offer addressed to the broadly understood medical industry. This is undoubtedly a field that needs large amounts for development, often they are necessary almost immediately.
Therefore, it is not always time to submit an application at a bank branch, especially since it involves a tedious procedure and a lot of formalities. A loan in Medical Finance can therefore only people associated with the medical industry. This is demonstrated by, among others the fact that to obtain a loan it is necessary to present a document confirming the right to practice the medical profession.
One thing to keep in mind is that these are investment loans. Funds obtained from them should be allocated, among others for the purchase of specialized equipment, computers, air conditioning, etc. They cannot cover the current liabilities or debts of the company.
Loan costs with Medical Finance
The total cost of the loan in Medical Finance depends on the loan offer selected. You can choose from several of them, including:
- Simplified – this is an offer that can be used by private offices and medical companies owned by doctors. In this case, the maximum amount of financing is up to 125,000. USD and the funding period for up to 6 years. Importantly, newly established offices can also apply for a loan. The application is submitted online, however, the contract is signed at the client’s premises.
- Full – addressed to medical companies owned by persons who do not have the right to practice the profession. The amount of financing is optional, and the financing period also reaches 6 years. However, there are some restrictions on internships on the market – the company must exist for at least 2 years.
- Medical loan – a civil law agreement, from which the funds should be allocated for expenses related to the purchase of medical devices or equipment for medical facilities. In this case, the funding period is from 12 to 72 months.
Hospitals can benefit, among others from financial leasing or financing of installment sales. Importantly, in each of these cases, there is no need for own payment. Detailed loan costs will be agreed individually with the client.
What does customer verification at Medical Finance look like?
In most cases, you will need to prepare a medical license and ID to obtain a loan from Medical Finance. It is also necessary to complete the loan application thoroughly. For details, it is best to contact Medical Finance by phone or email.
Therefore, people who are not associated with the medical industry cannot take advantage of the loan offer. Other offers on the market have been created for them.
Loan repayment in Medical Finance
The repayment of the loan in Medical Finance is usually in installments. Depending on its type, the repayment period can reach 72 months or 6 years.
The customer will receive a dedicated bank account number to which they should make the transfer. All repayment conditions must be agreed directly with the loan company representative.
The loan agreement is signed at the client’s office. This is undoubtedly a great convenience, he can apply online and does not have to bother at the office of the loan company.
At the meeting, he can simultaneously ask questions that bother him and possibly set all the additional details. Due to the fact that Medical Finance ‘s offer is very extensive, a lot depends on the subject of financing as well as the chosen loan and its amount.
A loan in Medical Finance – pros and cons
The loan in Medical Finance is a specific offer that is directed exclusively to the medical industry. Private individuals are therefore not able to use it. Is this good news?
Probably yes, because they still have a wide range of other offers available, and medical institutions immediately know where to direct their steps when they need funds for development that they want to acquire without unnecessary formalities and their own payment.
Therefore, the biggest advantages of a loan in Medical Finance include:
- high amounts of funding,
- no need to visit a loan company branch,
- no down payment required
- long financing period – up to 6 years.
What are the disadvantages of a loan at Medical Finance? It will be primarily:
- limited possibilities of obtaining a loan (obligation to present the right to practice),
- no knowledge of the cost of the loan from the beginning.