Explaining All There is to Know About Dental Practice Loans

Irrespective of whether you are someone who has years of experience as a dental practitioner, or want to move from a salaried job to having your own dental practice, the finances involved can get rather intimidating.

This is because the infrastructure needed requires a considerable amount of investment and that too in a number of places such as acquiring new space, new staff, maintaining payroll and keeping the cash-flow constant, buying the latest machinery, stockpiling medicine and a lot more.

Realizing this, a number of financial institutions including NBFCs (Non-Banking Financial Companies) have started offering what is known as a dental practice loan. This is a specially designed loan which helps dentists realize their long-cherished dreams of becoming independent.

Here are some other aspects about this loan which you not have heard about - 

What is a Dental Practice Loan? 

It is a special type of loan that is offered to qualified BDS (Bachelor of Dental Surgery), MDS (Masters of Dental Surgery) or practising dentists. The amount of loan offered varies from one lender to the other, but the interest rates are very competitive and have easy eligibility criteria.

Eligibility Criteria 

Even though the eligibility criteria for dental practice loans vary from one lender to the other, there are a few similarities among them which include that you need to have an MD, DM, MS, MBBS, BDS, MDS, BHMS, or BAMS degree to avail these loans. The years of practice that you need to have will depend on the degree that you possess. However, if you are a super-specialist doctor such as MD/DM/MS or something else, you do not need to have any experience.

If you want to know more about the dental practice loans, click here: Dental Practice Loans: All You Need to Know