BHG Financial Business Loan Review

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BHG Financial

Rates

Risk based pricing

Funding amount

$20,000 to $500,000

Term

3-12 years

Minimum credit score

700

Time to funding

As soon as 3 days

BHG Financial (formerly called Bankers Healthcare Group), specializes in providing tailored financial solutions to professionals across various industries with a focus on healthcare practitioners. BHG Financial’s loans are crafted to provide financial support for a range of purposes, from consolidating debt to expanding practices, investing in new equipment, or covering personal expenses. BHG Financial prides itself on its fast, hassle-free application process, competitive rates, and the ability to provide funds faster than many traditional lenders. BHG Financial previously operated its loan division under BHG Money and has sense consolidated the two brands.

BHG Financial

Apply through Lendio

Rates

Risk based pricing

Funding amount

$20,000 to $500,000

Term

3-12 years

Minimum credit score

700

Time to funding

As soon as 3 days

BHG Financial (formerly called Bankers Healthcare Group), specializes in providing tailored financial solutions to professionals across various industries with a focus on healthcare practitioners. BHG Financial’s loans are crafted to provide financial support for a range of purposes, from consolidating debt to expanding practices, investing in new equipment, or covering personal expenses. BHG Financial prides itself on its fast, hassle-free application process, competitive rates, and the ability to provide funds faster than many traditional lenders. BHG Financial previously operated its loan division under BHG Money and has sense consolidated the two brands.

Pros and cons.

Pros

Cons

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Loan offerings through BHG Financial.

BHG Financial offers a comprehensive suite of business loan products designed to meet the unique needs of professionals across various sectors. Their loan portfolio includes:

Each loan product is structured with the professional in mind, offering flexible terms and competitive rates to support their financial goals. The following table will focus on BHG Financial’s business term loan offerings.

BHG Financial term loan quick facts
Loan amount range$20,000 to $500,000
Time in business2 years
Minimum credit score700
Minimum annual revenuePersonal annual income of $100K+ for licensed professionals.
$1M annual revenue for general business.
Repayment scheduleMonthly
Fees3% origination fee
Funding speedAs quickly as three business days

See if your business is eligible
for financing through Lendio.

How much money are you looking for?

Things to consider.

Variety of business loans.

BHG Financial’s diverse array of business loans ensures that professionals from various sectors can find financial solutions tailored to their specific needs. Whether it’s for debt consolidation, business expansion, or equipment financing, BHG Financial has established itself as a reliable provider of financial support for professionals aiming to achieve their business goals. 

Fees and rates.

BHG Financial charges a 3% origination fee, so be sure to factor that in when determining the total cost of the loan. Rates start at 12.49% for a term loan from BHG Financial.

Quick approvals and funding.

One of the standout features of BHG Financial is its swift approval and funding process. Unlike traditional lending institutions, which can take weeks to process a loan application, BHG Financial’s streamlined application procedure allows for decisions to be made in as little as 24 hours. Following approval, funds can be available in the borrower’s account in as little as three days, making it an excellent option for professionals in need of quick financial support. 

Strong customer service.

BHG Financial’s commitment to providing exceptional customer service is evident through its responsive and knowledgeable staff. Clients can expect personalized attention from the initial inquiry through the life of their loan.

The company equips each borrower with a dedicated loan specialist who guides them through the application process, answers any questions, and offers solutions tailored to their specific financial needs. This high level of service extends beyond the loan approval, with BHG Financial offering ongoing support to ensure borrowers have a clear understanding of their loan terms, payment schedules, and any other concerns that may arise. This approach not only simplifies the borrowing process but also builds a trusting relationship between BHG Financial and its customers, further solidifying the lender’s reputation in the financial services industry.

Must speak with a loan expert to complete the application.

Requiring potential borrowers to speak with a loan expert before completing their application is a unique aspect of BHG Financial’s approach to lending. This policy ensures that all applicants receive a highly personalized experience tailored to their specific financial situation and goals. However, this can slow down the application process and make comparing loan offers with other lenders a more difficult process.

Moderate loan maximum.

While BHG Financial offers competitive loan amounts, it’s worth noting that their maximum loan cap of $500,000 may not meet the requirements of all professionals. This limit potentially restricts borrowers who may be seeking higher loan amounts for significant investments or expansive projects. 

Good reviews

BHG Financial received a 4.3 out of 5-star rating on Trustpilot. Most of the positive reviews rave about the lender’s helpful customer service representatives, easy application process, and quick approvals. BHG Financial also has an A+ rating on the Better Business Bureau’s (BBB) website.

Evaluation

BHG Financial is best for:

In assessing the diverse offerings and service standards of BHG Financial, it’s clear that this lender stands out in several key areas. 

Where BHG Financial might fall short:

While BHG Financial offers numerous benefits, there are areas where it might not meet every borrower’s needs:

How to apply for financing from BHG Financial through Lendio.

Applying for financing through BHG Financial via Lendio is a streamlined process designed to connect your business with the funding it needs with minimal hassle. Lendio is a small business loan marketplace with multiple lenders that will help match small businesses with loans that suit their unique needs. Here’s how you can get started:

  1. Complete Lendio’s online application form: You will need to fill out a brief online application on Lendio’s website. The form asks for basic information about your business, such as its name, how long it’s been in operation, your monthly revenue, and the amount you’re looking to borrow.
  2. Documentation submission: Alongside your application, you will be asked to submit documents that verify your business’s financial standing. These could include recent bank statements, income statements, balance sheets, and tax returns. Having these documents ready in advance can speed up the process.
  3. Review and acceptance: Once your application is submitted, Lendio will match you with potential lenders that fit your needs. If BHG Financial is a good fit for your financing requirements, you will receive an offer outlining the terms of the loan. Review these terms carefully to ensure they align with your business goals and repayment capabilities.
  4. Finalize the deal: If you decide to proceed with BHG Financial, you will work directly with their team to finalize the loan details. This may involve additional verification steps or documents. Once everything is in place, you can expect to receive the funds in your business bank account, typically within 72 hours.

The bottom line.

BHG Financial emerges as a compelling option for professionals seeking tailored financial solutions to support their practice or business growth. Their streamlined process, from rapid approvals to funding, along with a range of specialized products, underscores their commitment to meeting the unique needs of professionals, particularly those in the healthcare sector.

Ready to compare Bankers Healthcare Group with other lender options? Check your eligibility on Lendio and get multiple financing offers for your small business in one place.

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FAQs

BHG Financial has operated since 2001. The lender has an A+ rating and is accredited with the Better Business Bureau. BHG Financial also has a 4.3 out of 5 star rating on Trustpilot, with customers highlighting the lender’s easy application and quick approval process.

In order to qualify for a small business loan from BHG Financial, you should have a credit score of at least 700.

No, BHG Financial is not a bank. Instead, the company is a direct lender that offers loans to small businesses.

12+ years of serving
small business.


$15+ billion in SMB funding


75+ lenders in our network


400,000+ total loans funded


*The information contained in this page is Lendio’s opinion based on Lendio’s research, methodology, evaluation, and other factors. The information provided is accurate at the time of the initial publishing of the page (June 25, 2024). While Lendio strives to maintain this information to ensure that it is up to date, this information may be different than what you see in other contexts, including when visiting the financial information, a different service provider, or a specific product’s site. All information provided in this page is presented to you without warranty. When evaluating offers, please review the financial institution’s terms and conditions, relevant policies, contractual agreements and other applicable information. Please note that the ranges provided here are not pre-qualified offers and may be greater or less than the ranges provided based on information contained in your business financing application. Lendio may receive compensation from the financial institutions evaluated on this page in the event that you receive business financing through that financial institution.