Physician Loans for Expanding Practices
There has been an interesting development in the healthcare landscape over the last five years. Emergency walk-in clinics, once only found in underserved outposts far from a municipal hospital, are now seen in strip malls and along secondary roads in nearly every town. These clinics may be affiliated with a local hospital and serve as an alternative to receiving critical care at an emergency room.
Others are non-hospital affiliated and offer quality care to those who may not have health insurance coverage for an emergency room visit. These facilities often feature family physicians as well as specialists on duty. An appointment to see a specific doctor is not required and they open early and remain open late to serve their communities. In a minor emergency, parents and patients find these facilities convenient, especially when their family physician cannot be available.
Clearly the healthcare sector is undergoing a paradigm shift in services. Considering the competition, many single physician offices are examining the patient-care landscape and many are opting to expand and to upgrade their practices to meet increasing community needs. By becoming a group practice featuring several specialists, they will remain both competitive and provide the best service possible. Bringing in additional doctors in different specialties means a need for more working capital to cover expenses such as new equipment, salaries, an office renovation or even a move to a new, larger facility.
Where to Find Physician Loans
Traditional financial institutions have a lengthy financing process and their loan criteria will likely disqualify anyone with a lower FICO or an open tax lien. As a leading alternative financing company, National Business Capital’s application, decision and funding process is very different.
Quick access to money to improve cash flow for physicians and all medical professionals seeking to expand their practices is one goal of National Business Capital’s Physician loans program. The application process is quick and loan decisions are reached within 24 hours. These are not solely based on the business owner’s FICO, but upon realistic underwriting criteria. Once approved the money is available within days. This financing may be used to lease or to buy equipment from any vendor you wish. It can also cover salaries or enable your practice to snatch up that great new location before the competition learns about it.
Physician loans are not easy to come by at traditional financial institutions such as banks. And when available, the loan process may not be conducive to your timeline to expand your practice. When it is time to take your practice’s financial growth and future to the next level, speak with our Business Consultants. We have obtained hundreds of millions of dollars in financing for businesses across the country. Many physicians have benefitted from our Loans for Doctors to keep their practices current and support the needs of their communities. Call us or apply today! (888) 888-9124.