How to Apply for a Doctors Loan in the Philippines

Pursuing a career in the medical industry is a worthwhile calling. However, it’s also a very expensive endeavor. Thankfully, many financial institutions now provide doctor’s loan in the Philippines. So if you’re a medical practitioner with dreams to establish your own clinic, you would do well to consider getting a doctor’s loan. Read on below in case you’re clueless with the doctor’s loan requirements and the know-how’s.

Consider Your Options

As mentioned above, a lot of banks and lending firms offer doctor’s loan in the Philippines. However, that doesn’t mean they’re all created equal. Some products are clearly better than others, and it’s your responsibility to make sure you get the best one available.


Making a list is the best way to tell good doctor’s loan products from bad ones. It allows you to compare them with each other, as well as helps you organize crucial details about them in one place. Plus, doing so will allow you to calculate the subsequent cost of repaying it, which could potentially save you a lot of money in the long run.

Check If You Qualify

Once you’ve singled out the loan program you want, the next thing to determine is whether you’re qualified or not. Basically, you have to be a medical practitioner to enjoy the benefits of a doctor’s loan. However, there’s more to getting a loan than meets the eye.


Aside from the doctor’s loan requirements (more on that below), you need to understand that the money lenders would look at other factors when considering loan applications. These factors include your credit score, your field (i.e., if you’re a dentist, surgeon, or vet), and what you’ll use the borrowed money for (i.e., to buy equipment, as seed money for a medical start-up, etc.).

Complete the Requirements

Once you’ve determined that you’re qualified, the next step would be completing the doctor’s loan requirements. Now if you made a list as suggested above, you’ll probably notice that while loan requirements slightly vary from one product to another, they all have the basic criteria. In case you need a refresher, below are some of those general requirements:

  1. Accomplished application form
  2. Copy of PRC ID (in case yours has already expired, you need to present proof of renewal)
  3. Copy of latest bank statements.
  4. Patient’s ledger or list of clients
  5. 2 valid government-issued IDs
  6. Copy of proof of billing (to verify your address)
  7. Documented source of income (for applicants without their own clinics or for those working in corporations)
  8. Business permits (for applicants with their own clinics)
  9. Filipino citizenship
  10. Active contact numbers and email addresses

Commit to a Specific Amount

Lastly, you need to decide on the exact amount you want to borrow through a medical business loan. The amount of money a medical practitioner can obtain through unsecured loan products would depend on various factors (i.e., interest rates, loan terms, etc.). By committing to a specific amount, you’ll be able to determine the overall cost of the loan product, as well as avoid any hidden fees that might come with it.


Moreover, giving a specific amount would help the money lenders decide on your application. They’ll factor it in their review (alongside your ability to repay and other qualifications) before deciding whether to grant you the loan or not.

Contact the Lender

Once you’ve undertaken the steps above, then all that’s left would be to contact the money lender you chose. Doing so is also a great way to answer some of the inquiries not discussed here.


As you can see, getting a doctor’s loan in the Philippines is a lot more simple than most people would have you think. Like getting personal loans, you just have to be qualified, as well as follow good tips, to get the best one available.