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 Working
Medical Capital Loans
Physicians desiring to expand their practice may consider medical
working capital loans. The costs of operating a medical practice can
create periodic problems with cash flow, which interfere with the
capability to provide treatment to patience.
Medical capital loans can be used for needed equipment, payroll,
expansion, and personal needs.
Working capital loans are typically short-term loans. Unsecured loans
must be paid off for 30 to 60 days before they can be reestablished.
This assures lenders that the loan is not part of the equity structure
of the practice. Medical working capital loans can be financed for up to
20 years, with fixed or adjustable interest rates, which depend on gross
sales, and on business credit. The application process is short,
requiring a financial statement for the practice and two years of tax
records. Many financial institutes require the physician to
provide a business plan and projections. However, many loans are
approved within a few days.
If a physician is acquiring an existing practice, starting a new one, or
acquiring new or used medical equipment, financial lenders realize
physicians have exceptional needs and concerns. There is expert advice
available on working capital loans and other financing answers and each
situation requires personal examination.
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