Healthcare business loans can help you grow your practice (i.e. open a second office), purchase new equipment (i.e. finance the latest medical device), increase cash flow or build an emergency reserve for an unanticipated circumstance (i.e. repair broken equipment).
Healthcare practice financing can be provided by both traditional lenders as well as alternative finance companies, giving medical professionals many available options when they’re looking for funding.
Conventional bank business loans can offer doctors and physicians with longer terms (up to 10 years) and fixed interest rates, but require more paperwork and have a longer application process. Additionally, most healthcare professionals are rejected by traditional lenders, making the whole application process very cumbersome for them.
On the contrary, the healthcare business loan process, from an alternative finance provider, takes only a couple of minutes to complete and requires just a few pieces of documentation. Within days, a doctor, physician or any other medical specialist can get $20,000 to $500,000 in working capital. Furthermore, the funds can be used for virtually any business-related need, and most alternative finance companies have flexible repayment options available too.
At Bizfi, our advanced lending platform allows healthcare professionals to easily find financing solutions by completing a few simple steps, all from the convenience of their home or office.