Medical Practice Loans, Financing & Funding
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 & Financing 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 Medical Practice Financing
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 for Medical Practice Loans & Financing
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 | $240K+ Annual Revenue |
| Business Checking Account | Yes |
| US Citizen/Based Company | Yes |
| FICO Score | 570+ |
| Other Financing | None |
| Bankruptcies | None open |
Better Your Business With Fora Financial’s Medical Practice Loans & Financing
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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
Case Studies
Fast Capital for Fast Repair
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Funding Amount: $200,000
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Industry: Railroad Equipment Repair
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Use of Funds: Equipment
Learning Growth
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Funding Amount: $825,000
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Industry: Education
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Use of Funds: Inventory
Powering Growth in Electricity
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Funding Amount: $775,000
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Industry: Commercial & Residential Electric
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Use of Funds: Personnel and Equipment Upgrades
Featured Funding
Bridge Funding
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Funding Amount: $2,000,000
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Industry: Construction
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Use of Funds: Bridge funding
Technology and Data Services
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Funding Amount: $700,000
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Approval Amount: $1.1 Million
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Industry: Technology / Data Services
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Use of Funds: Cash Flow Liquidity
Communications Expansion
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Funding Amount: $1 Million
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Approval Amount: $1.2 Million
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Industry: Telecommunications
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Use of Funds: Expansion
Featured Funding
Stabilizing Growth
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Initial Funding Amount: $750,000
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Add-on Opportunity: $450,000
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Industry: Manufacturing
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Use of Funds: Financial Stability, Growth
Automation Growth
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Funding Amount: $300,000
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Approval Amount: $450,000
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Industry: Manufacturing / Automation
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Use of Funds: Working capital
FAQs About Medical Practice Loans, Financing & Funding
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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.
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Funding times for medical practice financing vary, but many medical professionals receive approval within 24 to 72 hours, with funds typically deposited shortly after final approval.
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Yes, medical practice loans are commonly used for expanding an existing clinic. Medical practice financing can also be used to open a new location or upgrade facilities to meet growing patient demand.
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Sometimes, medical practice funding requires collateral, such as medical equipment or commercial property, while others, like unsecured business loans, do not.
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Yes, many healthcare providers use medical practice loans to manage cash flow gaps caused by slow insurance reimbursements.
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Doctors' offices, dental clinics, physical therapy centers, chiropractic offices, medical spas, urgent care centers, and home healthcare services are some of the businesses that qualify for medical professional loans.
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Yes, startups can qualify for medical practice financing, but lenders may require a strong business plan, proof of medical licensing, and possibly a personal guarantee to secure financing.
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Yes, equipment financing loans are specifically designed to help medical professionals purchase diagnostic machines, imaging equipment, and other essential medical tools. Be sure to look at medical practice loan rates and compare them with other lending options (such as an SBA or a line of credit) to make sure you are getting the best financing deal for equipment purchases.
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Yes, medical practice loans can help fund digital marketing, website development, advertising, and other patient acquisition strategies to grow your practice.
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If a personal guarantee is required, failure to repay the loan could impact your personal credit. However, timely payments can help build your business credit profile.
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Many lenders allow early repayment, but some may charge prepayment penalties. Be sure to review the loan terms before signing.
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