The best medical practice loan option for you ultimately depends on your practice’s goals, the challenges you’re facing, and your financial history. Between traditional lenders like the SBA and commercial banks and newer forms of alternative funding, it can be difficult to decide which type of funding best suits your needs and goals.
To help you understand your funding options and select the right funding for your practice, we shared our expertise on medical practice loans with Physician’s Practice, an online resource dedicated to helping independent and hospital-owned practices navigate non-clinical medical practice management issues and challenges.
Read the full article for our advice on which kind of medical practice funding suits you best, including if you:
- Need fast funding
- Need a large loan over $500,000
- Have a strong financial history and great credit
- Have low credit or no collateral
- Are a newer practice
- Need working capital
- Are investing in real estate or purchasing an existing practice
- Are purchasing equipment