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Medical Practice Funding
UP TO $500,000 IN FUNDING FROM BIZ LOANS IN AS FAST AS 24 HOURS WILL HELP YOU GROW AND MAINTAIN A HEALTHY MEDICAL PRACTICE WHILE PROVIDING THE BEST CARE PATIENTS.
Fast Medical Practice Funding You Can Trust
Due to their great earning potential, high net worth, and steady income, doctors and medical practices are frequently viewed as the best prospects for funding by the Small Business Administration and commercial banks. But there's no assurance of acceptance, and the application procedure for these lenders can take months. Your patients' health can deteriorate and growth possibilities might disappear while you wait.
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In comparison to traditional lenders, Biz Funding Finder is an alternative lender that can approve more funding for medical practices and can do it more quickly—funds can be deposited in as little as one business day. We provide a variety of doctor office finance options, ranging from $3,000 to $500,000, with no usage limitations to support the expansion of your medical business. All medical specializations are covered by our funding, including Veterinary care, Psychiatrists, Dermatologists, and General practitioners.
Medical Practice Funding Rates
The type of alternative small business funding you obtain determines the funding rates for medical practices. Instead of using a standard interest rate, the majority of alternative funding solutions for doctor practices use factor rates. Factor rates, which are derived from your risk assessment, are straightforward decimal numbers that indicate how much "extra" you will owe on the initial loan amount.
Medical Practice Funding Solutions
OUR KIND, KNOWLEDGEABLE FUNDING ADVISORS WILL COLLABORATE WITH YOU TO SELECT THE BEST FUNDING OPTION THAT WILL SUPPORT YOUR GOALS WITHOUT AFFECTING THE CASH FLOW IN YOUR PRACTICE.
How To Use Medical Practice Funding
You are free to spend your money however you see fit. The financing available to doctor offices is perfect for growth projects like practice expansion or improvement that can boost income. Make use of your funds for:
Employ people to help you grow your practice's services and patient base.
Invest in or update lab supplies or equipment.
Create a secure website to provide additional services, such as virtual care or online booking.
Boost your advertising and marketing to attract more patients.
Invest in a new location or grow your business.
Remodel your workspace to provide a more welcoming environment for patients.
Medical offices can require an immediate infusion of working capital to help them handle the particular difficulties in their industry, such as:
Elevated patient attrition
Insurance claims that are denied or delayed, as well as problems being paid on time
Addressing the demands of new patients by providing remote care or lower wait times, for example
Exorbitant prices for medical supplies, technology, and equipment
To stay current with evolving standards, new tools and training are needed.
How Medical Practice Funding Works
1
Apply
Collect three months' worth of bank statements and other documentation. Give us secure access to the transactional data from your bank account so we can approve it more quickly.
2
Choose Funding
Within an hour (during regular business hours), a financing advisor will get in touch with you to finish your application and go over your funding alternatives.
3
Get Funded
Your money can be authorized and deposited within 24 hours after you and your funding advisor decide which funding option is best for your company.
4
Set Repayment
Your company's debit and credit card sales on a daily or weekly basis will be automatically subtracted to cover payment. The amount of your payment will depend on your sales.
Will You Qualify for Doctor Office Funding?
The specific qualifications required vary based on the kind of funding you are looking for for medical practices. Biz Loans does not base its approval of medical practice finance exclusively on your credit score or financial background. We concentrate on your company's general well-being, which includes:
Revenue for businesses
Money movement
Payment history of the vendor
Years of operation
Public documentation