Healthcare is one of India’s largest sectors in terms of revenue and employment and has attracted MSMEs for a long time now.
What may come, healthcare sector is immune to recession or any economic downturn and as per a report by Deloitte Touche Tohmatsu India, the size of the healthcare industry will touch $160 billion in 2017 and $280 billion by 2020.
In this backdrop, the small businesses want to tap the potential of the industry and are keen in opening up pathology labs, diagnostic centres, clinics, radiology labs, nursing homes, etc. Apart from MSMEs, even doctors want to fulfil their entrepreneurial dreams and open up their own centres.
However, setting up a hospital with all the medical equipment is a costly affair.
The same issue was faced by Ishab Khatib, who wanted to open a hospital in his hometown.
“I started a small hospital at my hometown but due to inferior infrastructure and lack of machines, I was not able to do what I am capable of. There was a need for a multi-speciality in Chiplun and I wanted to get good surgical equipment and staff so that people don’t have to travel long distance for treatment,” said Khatib, Managing Partner, Life Care Hospital, Chiplun.
He formed a team of doctors who shared the same dream of opening a multi-speciality in Chiplun. They had the skills but lacked capital.
“We were in search of financial partners and that search ended with SBI. The bank helped us and now we are going from strength to strength,” he said.
SBI, since long, has been financing entrepreneurial dreams of doctors and MSMEs in the healthcare industry.
Its two schemes-Medical Equipment Finance Scheme and Doctor Plus Loan Scheme-has been successfully helping people in purchasing medical equipment, opening nursing homes, hospitals, day care centres, clinics, diagnostic centres, labs, etc.
The hospital has also provided employment to people of Chiplun and is mulling over to open a medical college, where they will provide skill training and employment opportunities.
Another SBI scheme which is bringing healthcare closer to millions is the Doctor Plus Bank Loan Scheme. This is for qualified medical practitioners possessing qualifications like MBBS, BAMS, BHMS, BDS and GAMS.
The loan criteria allows projects ranging from setting up X-ray labs to purchasing ambulance for a medical clinic.
Under this scheme, we finance them for setting up clinics, path labs, nursing homes, labs and expansion and renovation of the existing premises. We are covering loans between Rs 10 lakh and Rs 5 crore. Since its service oriented, loans up to Rs 2 crore can covered under CGTMSC and no collateral is required.
This scheme worked wonders for Dr Sandeep Dhote, who founded Balaji X-Ray, Sonography Centre in Nagour with a loan of Rs 21 lakh.
“I started on a rented place and basic machine. I took loan from SBI and the process was quite simple and hassle-free. In 2009, I bought a new machine and I have again taken a loan for buying enhanced machines,” said Dr Dhote.
The forthcoming SBI schemes are enabling players in the medical industry take entrepreneurial route like never before! Watch them speak about their dreams coming true on October 28 at 4pm.
This is a partnered post.
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Updated Date: Oct 27, 2017 18:46:59 IST