Medical Practice
Loans & Financing
We provide a wide range of medical businesses with working capital, from walk-in clinics to home health care services.
We're a Funding Partner
with a Proven Track Record
Since 2008, we've grown with the companies we support.
What is a Medical Practice Loan?
Doctors and other medical professionals often take our medical practice loans to start their business once they are qualified to do so. These loans enable them to build or lease a building, hire medical and professional staff, and pay for incidentals. They are specially designed for the challenges that arise for a business that often needs to wait on insurance companies for payment.
How Medical Practice Loans Work
Medical business loans are intended for the purpose of building a medical services business. This can be doctors offices, lab facilities, and more. Doctors and health care professionals use these loans to promote their business, purchase vehicles, get new equipment for diagnostics, and help pay salaries and wages for employees and partners of the business.
Use Cases
How To Use a Medical Practice Loan
Medical practice financing options are used for buying equipment, furnishing offices, paying building rent, covering payroll, improving cash flow, and more. These loans are critical when doctors want to start a new practice.
Learn Why Us-
Expansions
Expanding business operations requires a good plan and healthcare business loans. With flexible options, these loans allow for adding new staff, marketing, building a new facility, and more.
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Payroll
Medical businesses often leverage medical practice loans to help cover payroll and other regular expenses.
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Equipment
Small business loans for doctors often help pay for new equipment in the office. From computers to diagnostics, there are plenty of ways to use the funds.
Why Apply for a Medical Practice Loan?
Invest in New Technologies
Medical practice business loans give doctors and healthcare professionals the resources they need to invest in new medical technologies for their business.
Invest in Marketing
When businesses expand, they need their customer base to expand with them. A medical practice loan gives a MedSpa, doctors office, or lab the ability to market their new services to gain new customers.
Ensure Regulations Are Met
Meeting medical regulations is essential. When these regulations change, doctors must be able to meet the new demands quickly, and that’s one of the benefits of business loans for healthcare professionals.
Minimum Eligibility Requirements
Are you ready to start your medical practice? Here are the minimum requirements for our medical practice loans.
| Time in Business | Minimum 6 Months |
|---|---|
| Business Annual Growth Revenue | $180K+ Annual Revenue |
| Business Checking Account | Yes |
| US Citizen/Based Company | Yes |
| FICO Score | 500+ |
| Other Financing | None |
| Bankruptcies | None open |
Better Your Business With Fora Financial
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Open Additional Medical Services
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Purchase Necessary Medical Equipment
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Hire Medical Professionals
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Pay for New Technologies
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Offer New Medical Services
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Pay for Commerical Real Estate
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Invest in Marketing
Success Stories
Crafting Culinary Success
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Funding Amount: $1,000,000
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Industry: Specialty Food
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Term: 9 months
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Use of Funds: Production, Technology, Marketing
Fitness Transformations
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Funding Amount: $150,000
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Industry: Fitness and Wellness
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Term: 12 months
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Use of Funds: Expansion
Brewing Success
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Funding Amount: $170,000
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Industry: Food and Beverage
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Term: 15 months
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Use of Funds: Product development, customer experience, marketing
Empowering Wellness
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Funding Amount: $750,000
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Industry: Health and Wellness
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Term: 8 months
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Use of Funds: Bridge Financing
In with the View
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Funding Amount: $240,000
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Industry: Construction
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Term: 15 months
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Use of Funds: Expansion
Growing Green
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Funding Amount: $750,000
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Industry: Landscaping
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Term: 6 months
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Use of Funds: Payables, Expansion
Crafting Success
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Funding Amount: $800,000
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Industry: Manufacturing and Wholesaling
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Term: 7 months
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Use of Funds: Equity Raise, Production, Efficiencies
Advancing Medical Excellence
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Funding Amount: $720,000
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Industry: Healthcare
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Term: 12 months
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Use of Funds: Equipment, Staffing, Patient Experience
Fashionable Success
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Funding Amount: $300,000
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Industry: Retail
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Term: 12 months
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Use of Funds: Inventory, Renovations
Charting New Horizons
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Funding Amount: $220,000
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Industry: Travel and Tourism
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Term: 10 months
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Use of Funds: Product Offering, Technology, Partnerships
Medical Practice Loans FAQ
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Medical professionals like family physicians, dentists, dermatologists, chiropractors, and even massage therapists are some of the entrepreneurs who can apply for medical practice loans.
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The most common loan types for medical practices are SBA loans, business lines of credit, non-bank term loans, short-term loans, and equipment financing.
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Each loan type will have certain restrictions on them. Medical practice loans in general must be used for the purpose of operating a medical practice.
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It’s important to first figure out what you need a medical practice loan for in the first place. If you’re wanting a little more cash flow, something like a line of credit might be a better solution than a term loan. Start by figuring out what you need the money for, and then look for loans.
What Sets Us Apart from the Rest
Get Financing Today
Get started with your application and join Fora Financial's family of forward-thinking businesses.