Business Loans for Medical Practice

• Get loans for your medical business at competitive rates.
• Loan products specifically designed for medical practices.

Small Business
375 Million+
in Funded
Rating from
the BBB
61 Google Reviews
hero banner image

Get the Best Medical Practice Loan Options

Like any other small business owners, physicians and other medical professionals often run into situations requiring business financing. Owning your own medical practice can come with its challenges, from start-up expenses to ongoing operational needs. That's why we offer medical practice loans and other business financing solutions to cover essential business startup costs such as purchasing inventory or buying equipment that you won’t find at traditional banks or credit unions.

AdvancePoint Capital provides a wide range of medical business loan terms and financing options tailored to your borrowing needs, ensuring flexibility and support for your healthcare company through our network of medical practice lenders.

Your medical practice faces unique challenges in the ever-changing world of healthcare management. The need to stay competitive often leads to significant startup expenses as well as purchasing the latest medical technology or buying groundbreaking equipment. Mergers and acquisitions have become more popular in medical care due to rising costs and other industry factors. Healthcare practices face many financial hurdles, including:

  • Consumerism
  • Regulatory uncertainty
  • Competition
  • Mergers/acquisitions
  • Healthcare technology

Nearly half of all healthcare practitioners no longer have an ownership stake, so those who do must be well-prepared for needs that may arise, such as purchasing inventory essential for patient care or upfront business startup costs that necessitate a strategic approach to startup funding. A physician turning to a large bank like Wells Fargo, U.S. Bank, and Bank of America for medical practice loans might face greater obstacles due to most banks’ strict underwriting guidelines.

AdvancePoint Capital has wide-spanning experience in providing startup funding and small business loans for healthcare for years. We understand the difficulties of operating a medical practice and the importance of flexibility in managing financial commitments. Our job is to effectively provide the best business financing solutions to established businesses so that you can manage startup expenses easily and operate your practice effectively. We offer a wide range of medical practice loans and alternative funding, even medical loans for bad credit through our marketplace of alternative lenders that help our doctors decide what best serves their borrowing needs and offers the flexibility vital to the dynamic needs of healthcare professionals.

What is a Medical Practice Loan?

Medical practice financing can come in many forms whether you're a new practice or have been in business for years. The financing experience for medical professionals includes a range of borrowing options, from small business loans and business lines of credit to equipment financing and invoice factoring. Your specific needs for funds, coupled with qualifications like credit worthiness, influence the choice of lending products and terms.

Traditional bank loans may offer familiar terms, but strict lending requirements might make them less accessible for some. For those seeking a quicker funds deposit, exploring online lending solutions that cater specifically to the medical community could be advantageous. Understanding the loan timeline for options like sba financing options is crucial, as some might offer a rapid disbursement of funds, while others, like the SBA 7(a) loan, require a more extended processing time.

How does a Medical Practice Loan Work?

Medical practice loan product features can vary greatly by product to product. A small business loan offers a lump sum upfront with fixed term and payment but a business line of credit offers a revolving line with the ability to draw funds when needed up to a limit. As you can see there are many differences that require some though as to what product best suits your needs.

All business financing products require you to apply and provide specific documents to acquire a pre-qualification to receive offers to consider and once you accept an offer you will need to provide the necessary conditions to receive your business funding. The application process can be as little as 1 day or go on for weeks depending on the business funding product and/or lender.

get started today

Get Started Today

AdvancePoint Capital makes the loan application process a simple, straightforward experience.

Medical Practice Business Loans

Long-Term Business Loans

Long-Term Medical Practice Loans

A long-term loan is an optimal solution for medical professionals aiming for significant expansions that align with their business plans and projections for profitability. To secure such loans that facilitate substantial growth, a comprehensive application process and strong creditworthiness are essential for approval. These loans not only offer sizable amounts but also allow for a manageable repayment schedule over an extended period, easing the financial impact on the practice.

  • Terms from 2 years up to 10 years
  • Rates starting at 9%
  • Must have strong credit worthiness

While these finances are attractive, there may be lender restrictions regarding the use of funds and other loan terms; hence, it’s crucial to understand these conditions before proceeding.

Learn More

Short-Term Business Loan

Short-Term Medical Practice Loans

Short-term loans are another medical practice loan that's used for more immediate cash needs and often boast a rapid funds deposit cycle. Short-term financing, a borrowing option appealing for managing immediate expenses, is considered anything less than 18 months to repay.

  • Terms ranging from 3 to 18 months
  • Streamlined application process, enabling quicker funds deposit
  • Same day funding available, complementing a tight loan timeline

Learn More

Business Line of Credit

Business Line of Credit

Business lines are popular for their unmatched flexibility, functioning as a revolving line of credit that allows quick access to funds up to a preset credit limit without needing new approvals from the lender for every draw. This aligns well with fluctuating borrowing needs, especially for businesses that experience variable expenses. With a business line of credit, you only pay interest on the amount you've actually used, rather than the full available balance—making it a cost-effective solution for many. This is not a traditional loan, but a more adaptable financial tool, perfect for those who need to manage cash flow efficiently.

  • Flexible credit line to meet dynamic financial needs
  • Ability to draw funds on-demand, enhancing operational agility
  • Rates starting at 1% simple interest, making it an economically viable option

Learn More

Equipment Loans

Equipment Loans for Healthcare

Healthcare professionals are well aware that medical equipment can be expensive. Whether it's a state-of-the-art x-ray machine for radiological services or a sophisticated scanner for diagnostics, the costs can quickly accumulate. Equipment financing can be a great option to purchase medical equipment, helping practices acquire cutting-edge technology like the latest X-ray machines or retinal scanners without a substantial upfront investment. Equipment funding can come in the form of a lease or a loan and help defray the costs. An equipment lease and loan use the equipment as collateral and therefore can offer longer terms at lower payments. Financing for this product is available for new medical practice equipment only, which is essential for maintaining an edge in healthcare technology.

  • Terms of repayment from 2 to 7 years
  • Equipment can be used as collateral to secure financing
  • Monthly payments

Learn More

SBA Loan

SBA (Small Business Administration) Loans

SBA loans are loans that offer an existing practice long term loans at affordable interest rates and payments. With SBA financing options, these government-backed loans are particularly supportive of small businesses looking to expand their operations with less financial strain. However, to benefit from these loans, your medical practice must meet specific lending requirements, which include a personal guarantee from the borrower.

  • Attractive rates compared to other business funding options, such as alternative lending which might come with higher interest rates.
  • Duration of repayment from 2 to 25 years allows for flexible financial planning and a tailored approach to managing debt.
  • Monthly payments ensure a steady amortization of the loan, supporting your practice's journey towards sustained profitability.

Learn More

Merchant Cash Advance

Merchant Cash Advance for Medical Practice

A merchant cash advance, also known as a future accounts receivable agreement is a common product used when the business owner has impaired credit or financial statements and cannot get approved with traditional business loans

  • Repayment based on percentage of future sales
  • High approval rate with all credit considered
  • Simple application process, funds available in as little as a day

Learn More

Small Business Loans

Small Business Loans for Medical Practice Startups

There are a variety of alternative loans and other products available with attractive loan terms in the marketplace. Explore the possibilities for startup funding, particularly tailored for the unique needs of medical practice startups, where strong credit worthiness is required and profitability is a key focus. Sifting through business financing solutions, such as healthcare-specific small business loans, can lead to more attractive rates and terms.

  • Strong credit worthiness required
  • Application requires significant documentation, reflecting a well-planned strategy for startup funding and future profitability.
  • Attractive rates and terms, especially when your business plan demonstrates solid projections for profitability and operational efficiency.

Learn More

Benefits of Medical Practices Business Loans

Common Uses and Benefits of Medical Practices Business Loans

Running a healthcare operation requires loans and financing options that work for the practice, not against it. Many healthcare professionals rely on education, tools, equipment, and technology to get an advantage in the field. Unfortunately, those advantages aren’t cheap and may require a loan. However, there are many benefits to obtaining medical practice loans. Whether you’re looking for new medical real estate opportunities to expand the practice or you need financing to keep up with operational costs — there’s a loan option for your medical practice.

Cash Flow

Operating your own practice is a complicated venture that has a lot of moving parts to it. Opening a new practice can be even more complex as other healthcare professionals will tell you due to initial costs. There are a variety of operating costs that a doctor can face that can impact the practice, like staffing, employee salaries, delayed receivables, collections, pressure from large medical groups, maintaining business licenses, and competition.

Software and Technology Upgrades

As innovations are always omnipresent, it’s crucial to have the business credit facility available to acquire the necessary technology to keep up with best practices in patients management, treatment, record keeping, and other processes that a doctor may have to manage. A practice loan is a solution to this problem.

Business Debt Consolidation

Debt can build up in a Medical Practice, so debt consolidation may be necessary to improve the overall cash influx for a practice. Another popular reason for debt refinancing is medical school debt.

Purchasing Medical Practice Loans

Medical practice acquisition is continuing at a rapid pace, and securing the right startup funding is essential for new ventures in the healthcare sector. Most practices are financed with medical practice loans due to the high cost of the sales price, so finding medical practice loans that can cover startup expenses, renovations or refurbishing, and operating costs is critical. Before applying, practitioners should prepare their business plan with financial projections and ensure their articles of incorporation are in order, as these are key elements that lenders evaluate. This due diligence is a cornerstone of a successful incorporation of a new medical practice in the competitive healthcare market.

Medical Equipment Purchases

New types of equipment are always being developed in the medical industry to deploy new tests and treatments, including state-of-the-art x-ray machines and advanced scanners. Equipment financing can defray those costs and support your practice's expansion without negatively impacting your balance sheet or cash flow. It can offer business funding options that upgrade or improve equipment for patient care, ensuring that you can keep pace with technological advancements and maximize the lifespan of your medical assets.


Some health care professionals like plastic surgeons rely heavily on advertising to grow there business. Advertising costs can really impact operating expenses and a loan funds advertising in a way that will help take on advertising opportunities otherwise would not try.

Types of
Medical Professionals We Serve

We provide business loans for healthcare professionals including:

  • Doctors & Primary Care Physicians
  • Pediatricians
  • Dermatologists
  • Psychiatric Professionals
  • Dental Practices
  • Plastic Surgeons
  • Veterinarian’s/Veterinary Practice
  • Medical Professionals
  • Private Practice Physicians
  • Chiropractors
  • Hospice Care Providers
  • Ophthalmologists/Optometry Practice
What Do I Need to Apply for Medical Practice Loans?

What lenders offer Medical Practice Loans

Choosing the right business loan originator is important as not all lenders are equal. Lenders offer different products and terms.

  • Banks and Credit Unions- The bank you do your business banking is often the first stop in acquiring financing for your medical practice. They often have great rates and terms, but the product diversity is limited and qualifications can be difficult because they have to protect there depositors.
  • SBA Approved Lenders- SBA loans can be acquired by approved SBA lenders with the best terms in the business funding industry. The application process is lengthy and qualifications are tough, so this may not be a fit for your qualifications.
  • Online Business Lenders- Online business lenders offer streamlined applications and higher approval rates than a bank, but terms are less attractive than a bank and often don't have product diversity to suit all business needs.
  • Business Loan Brokers- Business loan brokers can get a bad wrap as the middle man, but in actuality they often have the widest diversity of products from business loans, business line of credit, equipment financing, invoice financing and merchant cash advance to name a few. Not all brokers are equal, some make sure you do your homework about the reputation of the broker you are working with.

What Do I Need to Apply for Medical Practice Loans?

When getting medical practice loans for your medical practice you will need to know how medical practice loans work and gather documentation and fill out an application so the lender can determine your financial health. Reviewing your credit report is crucial, as borrower qualifications play a significant role in loan approval. What documents you need will depend on the practice loan qualification requirements and the type of financing you're seeking based on your qualifications. For example, SBA loan application paperwork is usually more extensive due to the rigorous qualification requirements, but it can offer favorable loan repayment terms.

Here's a quick breakdown of application paperwork and financial statements you'll typically gather for medical practice loans:

  • Business Loans - Application, 3 months of business bank statements (Business tax return required for loan amounts above $250,000 due to borrowing limits).
  • Short Term Business Loans - Application, 3 months of business bank account statements (Business tax return is necessary if the loan amount exceeds $250,000, reflective of the high-interest rates and short loan repayment terms associated with these loans).
  • Business Line of Credit - Application, 6 months of business bank account statements, and the most recent tax return.
  • Merchant Cash Advance - Application, 3 months of business bank account statements
  • Equipment Financing - Application, 3 months of business bank account statements, Invoice/Specifics of equipment (These loans do not require additional collateral requirements as they are usually secured by the underlying equipment).
  • SBA Loan - Application, 6 months of business bank account statements, 2 years of personal & business tax returns, year to date balance sheet and Profit & Loss statement, a business plan/financial projections, and resumes of owners.
  • Business Credit Card - Online application only (Sometimes bank account statements and tax returns are requested for larger credit limits, though these cards offer an accessible alternative to conventional loans).

When considering practice acquisition loans or any form of medical practice financing, it's imperative to assess your business financials and understand your ability to comply with collateral requirements, as well as anticipate how your practice will handle the loan repayment terms over time.

How to apply for a Business Loan for my Medical Practice

Once you have chosen the business loan originator you are looking to work with and you have identified the need or "why" you need business financing for you medical practice, the following is what you can expect in a typical application process.

  1. Application- You will be required to fill out an application detailing specific business information and personal information of the business owners. Additionally, you will be required to provide specific documentation, depending on the business finance product you are applying for. Not all products or lenders have the same documentation requirements.
  2. Offer(s)- Offers should include type, features, rates, costs and terms. You should always shop and compare to make sure you are getting the right product at the best terms available based on your qualifications.
  3. Acceptance- After considering your offer(s), an agreement will need to be signed as well as closing stipulations will need to be provided for final approval and funding.
  4. Business Funding- Once the lender or funder has cleared your agreement and funding stipulations, money is then sent via wire or ACH.The application process can vary based on product selected and lender or funder.

Alternatives to Medical Practice Business Loans

Sometimes traditional business financing for your medical practice either may not be an option or may not be the right option. Given the increased difficulty small business owners face in securing funds from traditional banks, exploring different avenues for small business lending can be vital.

  1. Ownership Funding - At times, medical practice owners opt to lend their company personal money, which may offer more favorable costs and terms than what's available through other traditional business lending options. This can be an effective method of business debt refinancing as well, especially if previous debts are consolidated under better conditions.
  2. Credit Cards - Personal credit cards are a quick option that many medical practices utilize in the toolbox of business financing options. While convenient, it’s important to use a loan calculator to understand the long-term costs associated with this form of credit.
  3. Crowdfunding - If you're willing to give up equity, crowdfunding may be an option to raise the amount of capital you need to grow your medical practice. This alternative lending route can connect you with various investors and could be an innovative solution to meet your financing needs.

Frequently Asked Questions