Canara Bank Doctor's Choice - Tailored Financial Solutions for Healthcare Professionals

Canara bank with a view to broaden the clientele base Doctors, Hospitals, Clinical/Diagnostic centres and other medical related enterprises under MSME Segment of Indian Economy has introduced Canara Doctor’s choice scheme for financial requirements of the Registered Medical Practitioners practising Indian, Unani, Homeopathic, Allopathic as well as their associate business activities/centres (viz., clinical /Pathological Laboratory, Physiotherapy centres, In-house Drug /Medical Stores).

Nature of facility	Cmposite (comprising Term loan and Working Capital component) Short Term Loan and Working Capital (Cash Credit/Overdraft, Overdraft against Book debts).
Purpose	"To provide credit facilities for business requirement of Registered Medical Practitioners for manufacturing & services in medical Field, against mortgage of property/ies and/or approved security/ies."
Target Group	Registered Medical Practitioners practising Indian, Unani, Homeopathic, Allopathic as well as their associate business activities/ centres classified under Micro, Small & Medium Enterprises(Manufacturing/Services).
Quantum of loan	Minimum Loan – No Limit. Sub limit for Working Capital – 20% of max. limit subject to a ceiling of ₹50 lakhs. Maximum Loan up to ₹5 Crores for Manufacturing & Services sector.
Margin:	Up to ₹25000/- - Nil Above ₹25000/- Term Loan for construction of business premises including resident doctor’s quarters – 25% Term Loan for Equipment’s - 20% Working Capital – 20%
Repayment Period	Working Capital tenable for 2 Years subject to annual review. Term Loan Up to a Maximum of 7 Years.
Security	Prime securities: Mortgage of land and building for acquisition/construction of which term loan is granted, subject to ensuring mortgageability of the property. Hypothecation of equipments for which term loan is granted. Hypothecation of stocks of medicines, consumables in case of working capital(OCC). Collateral Securities in the form of immovable and/or approved security/ies should be minimum of 100%.

All qualified registered medical practitioners in any branch of medical sciences like Allopathy, Dental, Ayurvedic, Unani, and Homeopathy having practical experience of carrying on the business.
Individuals/Proprietorship/Partner-ship/Companies/Trust.

Customer Identification proof along with NF998 MSME application.
Address Proof of unit and promoters.
License/permissions.
Financial papers for the last 3 years with ITR and projections.
Details of Guarantor with proof of assets. if applicable).
Copies of Degree certificate, Registered Medical Practitioner issued by the competent authority.
Copies of Income Tax Assessment Order/Wealth Tax Assessment Order of the individual, proprietor, partnership firm and its partners, company and its promoter, directors, Trust and its key person.
Copy of license issued by the competent authority for setting up clinic, nursing home, hospital etc.

Applicant should not be defaulter in any Bank/Financial institution.
KYC, Credit Risk Rating, documentation, valuation, insurance, review, inspection, submission of audited balance sheet & other documents like GST, Takeover of borrowal accounts from other Banks, reporting monitoring etc., and all other applicable guidelines as per extant guidelines.

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