While doctors have great future earnings potential, few graduate from medical school without debt. That debt can create problems when they seek additional working capital years later. They may decide to leave a large medical practice and go out on their own, or encounter numerous business financing situations such as an office expansion, new partner or even need to consolidate debt or refinance or supplement existing financing.
When you leave medical school, initial financing for your practice is relatively easy to come by. Today, these same physicians may be surprised to discover that traditional financing sources, such as banks, now regard them no differently than any other small business. In the intervening years, banks have tightened and reduced the amount of money they can make available to small business borrowers. Currently only about 20% of small business financing applications are approved.
Fast, Dependable Financing for Doctors
Even with approved financing, the money may not be immediately available. The funding process from application to money deposited in the borrower’s bank account may take months.
Increasingly, the solution for business owners, including doctors, to gain quick access to working capital is to ally themselves with a trusted alternative financing company. National Business Capital is an industry leader that understands the financing requirements for doctors when they are seeking working capital to expand their practices.
National Business Capital has assisted physicians to obtain the right financing they require when they need it. Our Business Consultants can recommend a number of different financing solutions which include a specialized Loans for Doctors program as well as Equipment Financing. For a confidential conversation regarding financing for doctors with business expansion plans, please contact us at (888) 888-9124.