Around 80 percent of start-ups need financing. Your own money is often not enough to open your own practice and make the necessary purchases. Although the fee is sometimes very high, the costs are also very high and sometimes unaffordable. New devices for practice can quickly go into the 5-digit range. When applying for a loan, the bank always considers the employment relationship of the doctor.
Credit for Doctors – Self-employed Doctors
Self-employed doctors, like freelancers or the self-employed, find it difficult to get a loan. When making a loan request, high demands are made that have to be met. The most important prerequisites that have to be met are permanent employment and regular income. This ensures that the loan for doctors is paid off on time. Since an independent doctor does not have a regular income, it is possible to take out a practice loan. There are special providers here that can be selected to take out this loan for doctors. Collateral is always an advantage to speed up the approval process from the bank. The bank can therefore assume that the loan will be repaid in any case.
Credit for Doctors – Salaried Doctors
Employed doctors have a much easier time getting a loan for this professional group than self-employed doctors. These receive a fixed income, which does not change every month. This enables the bank and the borrower to plan better and draw up a budget. As with almost all loans, this professional group may not have Credit Bureau entries. If this criterion is met, an application can be made without hesitation. Since there are many banks that grant loans to doctors in employment, comparisons should be made. Banks never work at the same interest rate, so the offers can be very different.
A comparison not only filters out the best conditions, the borrower also receives valuable information about the conditions and special repayments. Employed doctors and those who work independently can also take advantage of a complete package. A loan for doctors is taken out and life insurance is taken out at the same time. With this insurance, not only the doctor can insure himself, but also his family, who does not have to pay installments when the borrower can no longer pay.