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Used Laboratory Equipment Saves Money and Recoups Investments

In day to day use, many consider the term “used” to mean that something is somehow inferior in quality but this is simply not always true. When we think about something as used we have the impression of the item’s newness, thus its ability to perform optimally to be diminished. When it comes to used laboratory equipment there are things at play that should be considered.

Used laboratory equipment is not simply used by one dentist or doctor then washed with soap and water and sold to another practice. There are refurbishing concepts that come into play here. The equipment has to first be sterilized thoroughly to assure nothing is resident in the device/equipment. In most cases the equipment is refurbished where components have come near or are used in close proximity to the patient. In dentists’ offices, for example, most parts that fit this description have disposable tips, or parts that are sterilized and disposed of. The main parts of the equipment such as the drill, the lights, or other mechanical equipment built to last can simply be sold to another dentist after being inspected for safety and sterilized.

The fact of the matter is that practices starting out can’t always afford to purchase their equipment new, it’s simply too expensive. Luckily, doctors or dentists who have upgraded their practice, moved to a new building or simply change technologies, will often offer up their old equipment for sale at a drastically reduced cost to the new dentist. The established dentist will actually expect to sell this equipment before they even purchase it as part of the value in the first place. In other words they expect to recoup some of their costs by selling it later when they no longer need it or purchase new equipment (i.e. state of the art equipment over legacy technology). The equipment is designed to last many more years than the dentist will need it so this is a perfect way to recoup your investment later.

Hospitals will purchase used equipment either when their current equipment breaks or the hospital expands to handle more patients. One of the reasons that medical bills are so high is that the hospitals are trying to recoup their investment in the equipment, so anything that will help them save money helps patients see lower bills in the long run.

Provide a New Financial Attire to the Body of Your Business

Various banks of India give loans for business to cater to several business requirements. With the outgrowth of various business activities in India, the Indian banks have come out with lots of products generally catering to Small Business Borrowers and SSI (small-scale industries).

It is the peak time to fulfill your wish to set up your own business, because situations are no longer the same as before liberalisation. Nowadays, almost every government and private bank in India is offering loan for business for setting up and expanding business and that also at very affordable rates of interest and flexible conditions and terms.

The Indian banks offer business loans for maximum Rs.25 lakhs and that too for a maximum tenure of five years. These kind of loans are basically called commercial loans or business loans. As a matter of fact, these loans are even provided with a lucrative rate of interest.

What is more, the business loans are offered to the businessman and traders for expanding or establishing their business. Just like the professional loans, in this kind of business loans the loan amount basically depends on the financial status of the concerned person, the repayment capacity and most importantly the tenure of the loan.

However, apart from the business individuals and traders the self-employed can also enjoy the benefits of these types of loans. But there are definite criteria such as the financial standing, the record of past loan repayment and very important the loan repayment capacity. Now, if the self-employed person satisfies these criteria then he or she would automatically become eligible for getting such loans.

Furthermore, these kind of loans are basically categorised into two types, that is, secured and unsecured loans. In India, normally the secured type of loans are given to those individuals who possess their own homes. Because in any circumstances an individual fails to repay the loan amount of the concerned bank, it can get back its required amount by selling the concerned person’s house. Still if a person plans to set up or renovate his or her business it is suggested that the secured business loans are the best option. Even if a person has to keep his property as a pledged asset to the financial organisation he can enjoy low rate of interest, and what is more the repayment period would also be very long as compared to the unsecured type of loans.

While in the case of the unsecured business loans, the concerned borrower doesn’t have to pledge any asset as security. But the main issue of concern in this case is the unavailability of affordable rate of interest and flexible tenure of repayment. The risk associated with this type of loan is pretty high, and as such the bank do not give a high repayment period.

In case of the self employed professionals such as like Chartered accountants, Interior Decorators, Doctors and Company Secretary etc., the best class of loans would be the professional loans. Banks usually give loans from Rs.25000 to Rs.25 lakhs under this special category. However, this type of loans also depends on various factors such as the repayment capacity of the person, financial status of the borrower and the term of the loan etc. Furthermore, the repayment can be done through the process of EMI known as Equated Monthly Installments. Under this type of loan the concerned borrower can get the loan against a fluctuating or fixed interest rate.

What is more, the banks give different kinds of loan for the business individuals and traders. The conditions for availing these type of loans are slightly different from the professional loans, as these loans involve heavy initial investment. These loans are basically offered to expand or renovate the business set up. Nowadays, various banks of India offer loan for business. However, the top choices are State Bank of India, HDFC bank, Corporation Bank, Union Bank of India, Bank of Baroda, Standard Chartered etc.