Medical Practice Loan
A lot of medical professionals such as dentists, doctors and veterinarians are taking advantage of a business cash advance for their private practices. Others think that merchant cash advances are for retail shops, salons and restaurants owners only. Actually, even medical professionals can avail one for their private practices as well. Any business owner who can meet the basic requirements for merchant cash advance can be eligible to get one.
So what are the needed requirements in getting a business cash advance as a medical practice loan?
Your business, hospital or clinic must be operating for at least six months before you can be eligible for a medical practice loan. Your monthly credit card sales needs to be at least $3,500. There should be no unresolved bankruptcy issues within the last year. You need to have one year reclaiming business lease from your landlord. Your services need to accept credit card paymentsIf you can present all the mentioned requirements, you are eligible to avail all the benefits that a merchant cash advance gives to medical practitioners.
You are free to spend the cash advance that you get depending on how you want to spend it. There are no limits to where you can use them as long as it is related to your business. The cash advance can either be used for:
Purchasing of medical equipments Renovating your clinic or hospital Advertisement of your services and products Expanding your services Increasing your capital For inventory To get another location for your clinicIn the United States, there are 902 million patients going to their physicians each year. This is why merchant cash advance is so important these days, in order for medical practitioners to offer excellent service to their patients.
Now, every medical professional can begin building their own clinics and hospitals without much of a hassle. Another good thing about the medical practice loan via merchant cash advance is that you can renew your cash advance even after paying just 60% of the entire amount. If you still need additional capital for your business, MCA providers can again give you another cash advance.
If you are able to come up with the needed requirements in getting a merchant cash advance, you can now go to any MCA provider like Our MCA Funding Company Cash Advance to avail the services we offer to business owners like you.