Medical Practice Small Business Loans
Learn how you can receive up to $500,000 in financing from one of our trusted lending partners to help your medical practice better serve your patients.
Learn how you can receive up to $500,000 in financing from one of our trusted lending partners to help your medical practice better serve your patients.
Your small business needs are unique. We’ll match you with the right loan option to solve for them.
Get your cash in 24 hours.1
Make hassle-free payments.
Find solutions fit to your needs.
Use for almost any business purpose.
At least 49% of physicians work in a physician-owned medical practice, according to the American Medical Association. Private practices are crucial to the health and wellness of the communities where they serve. Patients are the top priority, but often the challenges of running the business side of a medical practice can get in the way. Having updated medical equipment, the latest technologies, a welcoming office space, and knowledgeable staff are all important for your practice, yet also can have high costs.
A small business loan helps pay for the things you need to continue to provide quality care to your patients. It can give your medical practice a boost in capital to cover expenses or propel your practice forward in a time of expansion. SmallBusinessLoans.com makes it easy to connect with a lender and get access to funding in as little as 24 hours1. Our lending partners have experience working with healthcare companies and know the unique challenges physicians and their practices face, so you will receive a customized loan designed to suit your needs.
On this page, you’ll learn about alternative lending options, its qualifications, what option might work best for your medical practice, and how to connect with a trusted lender.
A medical practice business loan gives medical practices capital to fund their business expenses when they need it most. Healthcare companies can use the funds to purchase new medical equipment, buy insurance, hire staff, or update office space. Funding helps bridge the gap in expenses or carry a medical practice through a period of growth.
Business loans can be secured through traditional lenders or alternative lenders. SmallBusinessLoans.com partners with alternative lenders who help businesses fill gaps in funding when traditional banks slow businesses down. Our experienced partners provide funding much more efficiently and with less requirements than banks or government institutions so you can get the capital you need to get back to running your business.
There are almost as many loan types as there are business needs. SmallBusinessLoans.com partners with lenders who are experienced in tailoring loans for healthcare companies and securing the terms that work best for your practice, but here are some common loan types that might work for you:
Short-term business loan
When you need quick funding to help foster growth – whether it’s hiring more staff or expanding the business – a short-term business loan offers a solution. This is a temporary financing solution with short repayment terms, often eighteen months or less.
Working capital loan
A working capital loan helps businesses bridge the gap in expenses by covering everyday costs, as opposed to focusing on long-term assets or planning. A working capital loan covers operational expenses and gives you access to funding for your peace of mind.
Equipment financing loan
Equipment financing helps business owners pay for new equipment or upgrades crucial to their business. Many types of new or pre-owned equipment can qualify, whether your practice needs new exam tables or laboratory diagnostic equipment.
Whether you’re looking to grow your medical practice or are short on capital while waiting for payments to clear, a small business loan can cover your costs. You can use your medical practice business loan for expenses like:
Now that you have an idea of what loan might work best for your healthcare business and what you can put funding toward, let’s break down the eligibility requirements. Our lending partners keep qualifications for a small business loan simple.
Here’s an example of what you may need to qualify:
Many traditional lenders have a lot of requirements to fulfill for their loan – but our partners keep the qualifications to a minimum. Required materials are often limited to a credit check and bank statements so you can get approved for funding faster.
With flexible qualifications, it’s efficient and easy to get approved for a medical practice business loan. Here are five easy steps to take to secure a loan for your healthcare company.
We’re committed to helping small businesses like yours succeed. Access to financing shouldn’t stop your business from reaching its potential. With SmallBusinessLoans.com, plan for growth or make critical upgrades to your practice without sacrificing capital. Get matched with one of our trusted partners who specializes in the unique needs of a medical practice and in little as 24 hours, you could be approved for up to $500,0001 from one of our lending partners.
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If you still have questions about a medical practice business loan, we have answers for you.
Medical equipment can be expensive, yet you need the right equipment in your practice to serve your patients. Equipment financing loans give healthcare workers the funds they need to purchase or lease equipment.
SBA loans can be used for medical practices. However, SBA loans have extensive requirements and long approval times, which makes it difficult to secure funding in a timely manner. Alternative lenders provide fast processing times and easier-to-meet qualifications with higher approval ratings.
With our trusted partners, most funds are deposited within 24 hours upon approval. However, this depends on the type and terms of the loan. SBA loans often take even longer, with funds becoming available after several weeks, if not months.
It depends. Your business may still be eligible for a loan even if you already have an existing loan with another lender. Every business loan is different and our partners will work with you to determine what you’re eligible for and how to get the best possible terms.
No lengthy processes or tons of prep work.
No getting bombarded by different lenders.
No waiting around for weeks and weeks.