Medical Practice Financing
What You Should Know
Financing a medical practice business is sometimes necessary but the problem is that there aren’t many lenders or financial institutions in the market that provide loans to these types of establishments. Bank loans that specialize in funding medical practices are not that widespread either, so most healthcare practitioners turn to alternative business loans to secure much-needed financing. The most common and preferred alternative source of financing is a business cash advance.
Doctor Offices, Chiropractor, Opthamologists, Pediatician, Health Care Facility, Medical Clinics, Vision & Eyeglass Office, Dental clinics, other medical service-oriented practitioners, or healthcare providers also turn to merchant cash advances to secure money to buy additional equipment, refurbish existing equipment, open new branches, hire additional employees or augment other operating expenses.
A merchant cash advance offers businesses and practitioners flexibility in repaying the money since there is no set deadline to repay the money nor there are any penalties or due dates. Qualification does not rely solely on credit rating nor does it require any collateral. It’s easy to apply for and approval time is quick.
We help small, mainstream medical practices build a successful borrowing record on the re-payment of your cash advance so that you can eventually qualify for traditional loans.
Many small medical business practices are shut out from traditional loans, often due to a low credit score, weak cash reserves, lack of collateral, or other related reasons. And yet, all practices need capital to grow. Our Medical Practice Funding Program uses a cash advance program that gives your medical practice money based on cash flow, business performance, and payment behaviors. With a broader understanding of your practice, we are able to provide you with additional working capital when traditional lenders may not. And this is just the beginning.
We’ll extend a cash advance today, and lay out a roadmap for you to improve your financial management to eventually qualify for traditional loans.
We will provide you working capital according to what your cash flow can realistically handle. Since we want your business to grow, we will also give you cash flow guidance to help you improve your ability to pay loans successfully. You can then report your successful repayments so it is positively reflected in your credit scores!
You can keep borrowing until you and your practice have the credibility to qualify for a traditional loan. Then we’ll be sorry to say goodbye, but very excited about the success you have achieved by getting capital when you needed it!
Our medical practice business program accepts daily direct debit payments, which increases your success for timely payments. Daily payments means lower total interest cost in the end because principal is reduced faster with daily payments. Our program is fined-tuned and tailored for medical practice business so you can focus on cash flow and payment behaviors rather than your credit.