We’re here to support your practice.
Medical professionals appreciate that Lendio helps them secure funding without the hassle.
Apply for financing today to build your business, upgrade your equipment, or fund your next project.
Medical professionals appreciate that Lendio helps them secure funding without the hassle.
Get the answers and the funding you need with support all along the way.
in small business funding facilitated in the last decade.
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50% repeat customers.
providing broad coverage for small business lending.
*Qualification criteria, rates, and other funding terms will vary depending on the type and location of your business, and upon other factors. This is not a guarantee of funding, and it should not be relied upon as an accurate assessment of the availability or terms of the represented funding products.
Not sure what you need or what funding options are best for you? Use our simple calculator to get a rough idea of your options with no commitment, and apply when you’re ready.
Whether you’re a doctor, dentist, chiropractor, or other medical specialist, with Lendio, you can explore various financing options to find the one that suits your practice’s next major step. Use funds to:
These are the most popular types of funding that other medical practice-based businesses qualify for through Lendio.
Access available funds whenever you need them, and only pay interest on what you draw.
Access funding based on your future revenue and repay with regular payments.
Get low-interest, government-backed funding to expand your business.
Medical factoring is a financial solution that helps medical practices manage their cash flow by converting outstanding invoices into immediate working capital. This type of financing is useful for healthcare providers who experience delays in payments from insurance companies or those who need quick access to funds to cover operational costs.
A term loan is a traditional financing option where a borrower receives a fixed amount of money upfront and repays it over a set period with regular, consistent payments. This type of loan is ideal for medical practices needing a substantial sum to cover significant expenses such as purchasing new equipment, renovating the office, or expanding services. Term loans generally offer lower interest rates compared to other loan types, especially when secured by collateral..
An SBA (Small Business Administration) loan is a government-backed loan designed to support small businesses. This type of financing typically offers lower interest rates and longer repayment terms compared to traditional business loans. SBA loans can be used for a wide range of purposes, including purchasing equipment, expanding your practice, refinancing existing debt, or covering operational costs.
A line of credit provides medical practices with flexible access to funds up to a predetermined limit, allowing them to draw on the amount needed when expenses arise. This type of financing is ideal for managing fluctuating cash flow needs, such as covering emergency repairs or purchasing supplies. Interest is only charged on the amount borrowed, making it a cost-effective option for practices with varying financial demands.
Equipment financing allows medical practices to purchase or lease the necessary equipment without the burden of paying the full amount upfront. This type of loan is specifically designed to cover the cost of medical devices, machinery, and technology, ensuring that your practice remains well-equipped with the latest tools.
A comprehensive guide to medical practice loans
A medical practice loan provides working capital to medical professionals with a private practice. While some lenders may offer personal loans to healthcare practitioners, a loan made to a medical practice is a business loan used for the purchase of running and growing the practice.
Medical practice loans work similarly to other business loans, where a lender provides a lump sum of money repaid over time with interest. The amount you can borrow, interest rates, and repayment terms will vary depending on the specific lender and your financial qualifications.
The requirements for a healthcare practice loan will vary depending on the lender and type of loan you are applying for. Generally, lenders will consider factors such as your credit score, revenue and financial history, time in business, and any collateral that can be used to secure the loan.
Traditional banks, online lenders, and alternative financing companies can offer medical practice loans.
At Lendio, we partner with over 75 lenders to provide a wide range of financing options for medical practices. Our streamlined application process makes it easy for healthcare professionals to explore and compare offers from multiple lenders.
Securing a medical practice business loan can be a straightforward process if you follow these steps:
By following these steps, you can efficiently navigate the process of obtaining a medical practice business loan, ensuring that you secure the financing you need to support and grow your medical practice.
See what you can qualify for on the Lendio Marketplace.