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Apply for financing, track your business cashflow, and more with a single lendio account.
Apply for financing today to grow your practice, upgrade your equipment, or cover day-to-day costs.
One application
75+ lenders
Multiple offers*
Applying is free and won’t impact your credit.
Medical professionals appreciate that Lendio helps them secure funding without the hassle.
Sahil Dosaj
APRIL 26, 2022
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
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
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.
Whether you’re a doctor, dentist, chiropractor, or other medical specialist, with Lendio, you can explore various financing options to find the one that suits your practice’s next major step. Use funds to:
Bridge capital between insurance payments
Purchase medical supplies and equipment
Refinance debt
Pay your staff
Invest in patient outreach and marketing
Answer a few simple questions and complete the application in minutes.
We’ll present your application to our marketplace 75+ lenders. Applying is free and won’t impact your credit score.
Find the funding option with the terms that best fit your small business goals.
Once you accept, funding can hit your bank account in as little as 24 hours.
A medical practice loan provides working capital to medical professionals with a private practice. While some lenders may offer personal loans to healthcare practitioners, a loan made to a medical practice is a business loan used for the purchase of running and growing the practice.
Medical practice loans work similarly to other business loans, where a lender provides a lump sum of money repaid over time with interest. The amount you can borrow, interest rates, and repayment terms will vary depending on the specific lender and your financial qualifications.
The requirements for a healthcare practice loan will vary depending on the lender and type of loan you are applying for. Generally, lenders will consider factors such as your credit score, revenue and financial history, time in business, and any collateral that can be used to secure the loan.
Medical practice loans can be used for a variety of purposes. Some common uses include:
Traditional banks, online lenders, and alternative financing companies can offer medical practice loans.
At Lendio, we partner with over 75 lenders to provide a wide range of financing options for medical practices. Our streamlined application process makes it easy for healthcare professionals to explore and compare offers from multiple lenders.
Securing a medical practice business loan can be a straightforward process if you follow these steps:
By following these steps, you can efficiently navigate the process of obtaining a medical practice business loan, ensuring that you secure the financing you need to support and grow your medical practice.
Medical factoring is a financial solution that helps medical practices manage their cash flow by converting outstanding invoices into immediate working capital. This type of financing is useful for healthcare providers who experience delays in payments from insurance companies or those who need quick access to funds to cover operational costs.
A term loan is a traditional financing option where a borrower receives a fixed amount of money upfront and repays it over a set period with regular, consistent payments. This type of loan is ideal for medical practices needing a substantial sum to cover significant expenses such as purchasing new equipment, renovating the office, or expanding services. Term loans generally offer lower interest rates compared to other loan types, especially when secured by collateral..
An SBA (Small Business Administration) loan is a government-backed loan designed to support small businesses. This type of financing typically offers lower interest rates and longer repayment terms compared to traditional business loans. SBA loans can be used for a wide range of purposes, including purchasing equipment, expanding your practice, refinancing existing debt, or covering operational costs.
A line of credit provides medical practices with flexible access to funds up to a predetermined limit, allowing them to draw on the amount needed when expenses arise. This type of financing is ideal for managing fluctuating cash flow needs, such as covering emergency repairs or purchasing supplies. Interest is only charged on the amount borrowed, making it a cost-effective option for practices with varying financial demands.
Equipment financing allows medical practices to purchase or lease the necessary equipment without the burden of paying the full amount upfront. This type of loan is specifically designed to cover the cost of medical devices, machinery, and technology, ensuring that your practice remains well-equipped with the latest tools.
Dive deeper with articles on building and growing your business.
*Of applicants who get an offer 77% get at least two.