A Business Loan is a financial product offered by banks, NBFCs, and financial institutions to support the operational and expansion needs of businesses. It can be used for

Advantages of Business Loan

Quick Access to Capital:Provides immediate funds to manage day-to-day operations or invest in growth opportunities.

Flexible Usage:Funds can be used for a wide range of purposes like inventory purchase, marketing, staff salaries, or office expansion.

Collateral-Free Options:Many lenders offer unsecured business loans, especially for SMEs, startups, or professionals with good credit.

Fast Processing & Disbursal:With digital applications and minimal documentation, approvals are often completed within a few days.

Custom Repayment Options:Flexible EMIs and repayment terms ranging from 1 to 5 years make it easier to manage finances.

Improves Business Credit Score:Timely repayments help build a positive credit profile, improving future financing opportunities.

Tax Benefits:Interest paid on business loans can be claimed as a deductible business expense under the Income Tax Act.

Eligibility Criteria

Professional Qualification

The applicant must be a qualified medical professional such as:

MD / MS / MDS / DM / MCh

MBBS / BDS / BAMS / BHMS / BPT

Registration Must be registered with the Medical Council of India or State Medical Council.

Experience

Minimum 1–3 years of post-qualification experience (varies by lender).

Age

Maximum: 65 years at loan maturity

 Minimum: 24 years

Credit Score

A good credit score (typically 650+) improves chances of approval and better interest rates.

Income

Steady and verifiable income from practice, job, or clinic/hospital

operations.

Documents Required

KYC Documents:

PAN Card

Aadhaar Card

Passport-sized photographs

Address proof (Utility bills, Passport, Voter ID)

Professional Documents:

Degree certificates (MBBS, BDS, MD, MS, etc.)

Medical registration certificate (MCI/State Medical Council)

Work experience certificate (if applicable)

Financial Documents:

For Salaried Doctors:

Latest 3–6 months’ salary slips

Form 16 / Income Tax Returns (last 2 years)

Bank statements (last 6 months)

For Self-Employed Doctors/Clinic Owners:

Income Tax Returns (last 2–3 years)

Audited financials of clinic/hospital

Bank statements (personal and business) – last 6–12 months

Clinic ownership/rent agreement (if applicable)