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JS Hospital Financing

JS Hospital Financing, based on State Bank’s Refinance Facility for Combating COVID-19 (RFCC), is a loan facility for Hospitals, Medical Centers and entities planning to engage in manufacturing of medical equipment (mask/protective dresses/testing kits/hospital beds/ventilators and other medical items) who want to cater to increased demand of healthcare services due to the recent outbreak of COVID-19. This financing facility allows Hospitals, Medical Centers and entities planning to engage in manufacturing of medical equipment (mask/protective dresses/testing kits/hospital beds/ventilators and other medical items) to combat COVID – 19 to buy local /imported medical equipment so that they are fully prepared and adequately equipped to deliver quality services to the population of the country.

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Collateral Land, Gold or any other tangible collateral as per Bank’s policy

Processing Fee No processing fees

Mark up: Fixed at 3% per annum

Financing Amount Rs. 300,000/- to Rs. 200,000,000 For SE 25,000,000 For ME 20,000,000

Financing Tenure up-to 5 years with maximum grace period of up to 6 months (for principal portion only)

Equity Equity of 15%, which may be lowered on case to case basis depending upon financial position of the borrower

This finance facility is to be utilized for buying only new medical equipment by Hospitals & Medical Centers as per following list provided below:

Ventilators Testing Equipment and Testing Kits Sterilization Equipment Personal Protective Equipment Surgical protective dresses
Surgical Sets Examination beds Oxygen cylinders Oximeters Bed screens & separators
Setting up of isolation ward

Eligibility Criteria:

  • The Hospitals and Medical Centers should be duly registered with respective provincial/federal agencies/commission
  • NTN of three years will be required alongside ATL presence
  • Only borrowers, as defined in Commercial/ Corporate/ SME Prudential Regulations, shall be eligible to avail financing facilities under the Scheme
  • The Hospitals and Medical Centers entertaining patients even other than those of COVID-19 can set up or expand the existing hospital and medical center subject to the following minimum conditions:
Registration with respective Provincial/Federal
agencies/commissions.		 50 Bedded tertiary care hospital.
24 hours fully equipped emergency. In house Laboratory facility including Radiology/  CT/MRI/Ultrasound/ angiography/ angioplasty.
ICU/CCU with ventilators attached to each bed Operation theaters and OPD facility

Required Document Checklist:

  1. Business proof of last 3 years
  2. Audited Accounts and Management Accounts, as per Commercial/ Corporate/ SME Prudential Regulation, where applicable
  3. Personal guarantee of the owner/directors. Sponsor directors’ personal guarantee in the case of limited companies
  4. Supporting Documents/Undertaking to be obtained for proper utilization of loan
  5. Last 1-year Bank Statement required for JS Bank account holders
  6. Last 2-year Bank Statement required for Non-JS account holders
  7. NTN of three years will be required alongside ATL presence.
  8. In case the hospital is owned by trust or work under charter it would be prudent to obtain the trust deed /charter confirming whether they are eligible / can borrow and can provide security against borrowings
  9. Any other requirement of the Bank as per Commercial/ Corporate/ SME Prudential Regulations
  10. During facility disbursement, until SBP approves refinance facility, mark-up rate of 1-Month KIBOR+2% (floating) per annum would be applicable
  11. Late repayment mark-up rate of 1 month KIBOR+3% (floating) per annum

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