Physicians will spend working capital on equipment upgrades to improve patient care. This can be a major expenditure, and as a result, doctors may have to choose between medical and non-medical office expenses. Upgrading the reception area furniture, providing an area for patients’ children to play or even providing an up-to-date reception area for their office staff is secondary until it can no longer be ignored.
As we all know, it is not possible to have a second chance to make a first impression. When a prospective new patient visits your office, what greets them when they enter your waiting room? They will not know initially that your examination rooms offer the latest technological advances in patient diagnostics and treatment. If they walk into a crowded waiting room with worn furniture and a harried office staff working in tight quarters, they may leave and not return.
Where to Find Expedient Medical Practice Financing
Banks may offer small business loans for new equipment and furnishings for examination suites and treatment rooms. However, banks may not be willing to extend additional financing to previous borrowers, even doctors, quickly. This is especially true when these medical practitioners are seeking to upgrade their public rooms or even relocate to new premises.
This is where alternative financing companies have become more popular over the last decade. Unlike banks where the financing timeline can be as long as several months, alternative financing companies make lending decisions quickly and approved financing is available within days. It has been said that they provide financing at the speed of today’s business requirements.
National Business Capital is a renowned alternative financing company. Our Business Consultants seek to establish long-term business relationships with our clients. For doctors seeking to alleviate cash flow issues so that they may upgrade their premises, we may consider a business line of credit, a small business loan, financing based on invoices or numerous other options.
If the physician wants to relocate their offices, we can assist them to obtain financing for that contingency as well. For doctors who have questions about obtaining medical practice financing for their non-medical business expenses, we invite them to call us for a confidential consultation at (888) 888-9124.