Medical facilities can receive loans for more capital intensive medical equipment from lenders and investors on MedNeed.
Access to multiple lenders/investors with a single application.
The terms vary depending on the lenders/investors.
Interest rate varies.
Moratorium (time before repayment starts) varies.
Set tenor (duration of loan) varies.
Can be accessed within a week of request.
Longer repayment periods.
Available to all medical facilities.
Available for equipment and supplies procured from any vendor.
The medical facility completes and submits application.
MedNeed confirms the medical facility and the equipment need.
MedNeed sends the loan request to available lenders/investors to review and fulfill the loan request.
The medical facility accepts the most suitable loan which could be provided by an individual lender/investor or a group of lenders/investors.
The funds are made available for the equipment as soon as the same day or within a week of the loan acceptance.
MedNeed works with the medical facility to ensure that the equipment is procured from the most suitable vendor.
The medical facility starts repayments as agreed in the terms of loan.
Support and guidance throughout the process, from getting the loan to acquiring the medical equipment.
Faster access to loans.
The medical facility can conveniently get response from multiple lenders with a single application.
Better terms for loans including lower interest rate and increased moratorium.
Better prices and quality assurance on equipment from certified vendors/manufacturers.
MedNeed works with the medical facility to ensure that the equipment is bought from the right vendor or manufacturer at a reasonable price.
The medical equipment can be used as collateral based on the nature of the loan and the requirements from the lenders/investors.
Make your capital budget go as far as possible to obtain the innovative technology you need.
The medical facility pays MedNeed a flat processing fee of $9 only.
Payment is made after a suitable loan is accepted.
The medical facility must be duly registered and meet all applicable local regulatory and professional requirements.
The director/representative of the medical facility must be a certified member of an accredited medical association.
The medical facility must show due need for the equipment since funds are only for medical equipment and supplies.
The medical facility must agree to abide by the terms of the loan and make repayment as and when due.
The medical facility must consent that MedNeed will work with lenders/investors to collect payments from borrowers who are delinquent or in default using every applicable regulatory and legal avenue possible.