Healthcare business loans, fast

Apply for financing today to maintain a steady cash flow, purchase new equipment, or expand your healthcare practice.

One application

75+ lenders

Multiple offers

We’re here to help you grow.

Sahil Dosaj

APRIL 26, 2022


Rocky Christensen from Lendio helped me secure a business loan

Rocky Christensen from Lendio helped me secure a loan for purchasing my medical building. He put me in contact with Monarch Financial. Working with them was a pleasure. They are both very attentive to details and highly responsive to any questions. They made the process easier and stress free. I would highly recommend them.

M Colvin DO

FEBRUARY 17, 2021


We are so grateful for the Lendio Application process!

The process was fairly easy to follow, there were directions for every step. We recommend printing the list of what you may need to upload to make the application process go smoothly without timing out. We were able to log in to view the process step by step. Thank you and Thank You to our Hartford. Insurance for partnering with you and letting us know! We highly recommend Lendio, you helped save our private medical practice during this trying time.

Dr Marianne Goodman

June 3, 2020


Well done job for a somewhat unconventional client

Once the issue of organizational documents was cleared up (there are none since I am a single practitioner in the medical field unincorporated and unaffiliated with other partners or organizations) the process was smooth and executed efficiently and speedily. Thank you for your assistance especially in the face of all the confusion and difficulty finding a lender.

Lendio knows the healthcare business.

We take the time and hassle out of financing your medical practice, so you can focus on what you’re good at – serving your patients and improving your bottom line. Use funds to:

Doctor using an ipad to gather patient info

Bridge capital between insurance payments

Purchase supplies and materials

Purchase office space

Expand service offerings

Invest in marketing

1. Tell us about your business.

Answer a few simple questions and complete the application in minutes.

2. Submit your application.

We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.

3. Compare offers.

Find the funding option with the terms that best fit your small business goals.

4. Get funded.

Once you accept, funding can hit your bank account in as little as 24 hours.

Business loans for multiple types of medical practices.

Types of business loans for medical practices.

Medical receivables factoring

Medical receivables factoring is a financial practice where medical providers sell their accounts receivable to a third party at a discount. This allows healthcare organizations to receive immediate cash flow rather than waiting for insurance companies or patients to pay.

TERM LENGTH

1-12 months
MAX LOAN AMOUNT

$1 million

Small business loan

A business loan provides healthcare businesses with capital to fund various expenses such as equipment purchases, operational costs, or expansion initiatives. These loans come with agreed-upon terms for repayment, interest rates, and collateral requirements, helping businesses manage cash flow and achieve their growth objectives effectively.

TERM LENGTH

6 months-25 years
MAX LOAN AMOUNT

$5 million

Line of credit

A line of credit offers a flexible way to finance your medical practice. Upon approval, you can withdraw funds as you need to, up to a set credit limit. You’ll pay interest only on the amount you borrow, rather than the entire amount for which you’re approved.

TERM LENGTH

6-24 months
MAX LOAN AMOUNT

Up to $250,000

Equipment financing

Equipment financing is an option if you’d like to buy or lease equipment for your medical practice, like X-ray machines, patient monitors, or surgical tables.

TERM LENGTH

1-5 years
MAX LOAN AMOUNT

$5 million

FAQs

A healthcare business loan is any type of financing acquired by a healthcare business. Some types of financing like medical receivables financing are tailored specifically to the healthcare industry. 

Requirements for a medical practice loan vary by lender and loan type. Minimum requirements start at the following:

  • A credit score minimum of 600 
  • Monthly revenue of $8,000 or more
  • A business history of at least six months

 

There are several types of providers a medical professional can seek financing from. The Small Business Administration (SBA) offers partially guaranteed loans through an SBA-approved lender. Banks and credit unions also offer term loans, equipment financing and lines of credit. Online lenders offer a range of products including term loans, lines of credit, equipment financing, cash advances, and invoice factoring. These online lenders frequently have easier eligibility criteria than a bank or the SBA.

A medical practice loan offers you the flexibility to use funds in a way that best serves the growth and development of your practice. Some ways you can use a medical practice loan include:

  1. Startup costs: Secure the essential funds to start your medical practice right, covering everything from lease payments to licensing fees.
  2. Working capital: Ensure smooth cash flow for day-to-day operations, covering unexpected expenses and short-term financial needs without disrupting your medical services.
  3. Equipment purchase: Upgrade to the latest medical technologies to ensure you’re providing top-notch care to your patients.
  4. Inventory: Maintain an adequate stock of essential medical supplies and pharmaceuticals, ensuring you can meet patient needs promptly without worrying about shortages.
  5. Staff hiring: Expand your team of healthcare professionals to enhance patient service and reduce long wait times.
  6. Office refurbishments: Transform your waiting area into a more comfortable and welcoming space for your patients.
  7. Expansion plans: Dream of having multiple clinics? Our loan can fuel your growth and turn that dream into reality.
  8. Operational costs: Manage everyday expenses stress-free, from utility bills to payroll and supplies.

Compare loan options from multiple funders.

Applying is free and won’t impact your credit.
Talk to a rep at (855) 853-6346
Mon-Fri 7:30am-5pm MST