Looking for MSME Loan for the Purchase of Medical Equipment from State Bank of India?
You have landed at the right place. This page contains all the information you will need on State Bank of India’s MSME Loans for Doctors who need a loan or working capital to set up or expand their practices.
State Bank of India (SBI) Medical Equipment Loan Scheme
This loan helps nursing homes, diagnostic centres, pathology laboratories, ENT centres, skin clinics, dental clinics, IVF centres, medical practitioners, etc. to get financial assistance to purchase ancillary equipment for business use. The maximum loan amount is Rs. 20 crore for this loan.
Features of SBI Medical Equipment Loan
Why this Loan?
- The SBI Medical Equipment Loan Scheme is meant for nursing homes, diagnostic centres, pathology laboratories, ENT centres, skin clinics, dental clinics, IVF centres, etc. that need financial assistance to purchase ancillary medical equipment
- Individuals, Proprietors, LLPs, Trusts, Companies and Societies running medical centres such as nursing homes, diagnostic centres, pathology laboratories, ENT centres, skin clinics, dental clinics and IVF centres are also eligible for this loan as long as the business has been running successfully for the last 3 years
Loan Amount
- The minimum loan amount sanctioned under this loan scheme is Rs. 10 lakh. The maximum loan amount offered under this loan scheme is Rs. 20 crore
Interest
- The interest rate applicable to this loan is defined as the sum of one-year Marginal Cost of Funds based Lending Rate (MCLR) and Strategic Spread. Currently, one-year MCLR of SBI is 7.00% and the Strategic Spread may range from 2.00% to 2.50%. This means that the effective interest rate may range anywhere from 9.00% to 9.50%
Repayment
- This loan is repayable in 3 to 7 years
- The moratorium period for this loan is 6 months
Security Needed
- Loans up to Rs. 2 crore: The bank asks for CGTMSE coverage to secure the loan
- Loans Above Rs. 2 crore: The bank asks for 25% tangible collateral and personal guarantee of promoters
Margin Money (Borrower’s Contribution to Total Cost)
- The bank charges 15% of the loan amount as margin
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card / PAN Card Issuing Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
Reference Facts
- State Bank of India Website: www.sbi.co.in and www.onlinesbi.com (net banking)
- Headquarters: Mumbai, Maharashtra
- Call Centre Toll-Free Number: 1800 425 3800, 1800 11 2211