Medical Practice Financing & Business Loans

  • Finance up to $750,000
  • Funded within 24 to 48 hours
  • APR starting at 7%
  • 6-month to 24-month loan terms
  • Both unsecured and secured loan options
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Clarify helps doctors, dentists, private practices, and health care professionals pursue the American dream and succeed with the working capital their medical business needs.

Best Business Loans for Doctors & Health Care Professionals

Scaling up a medical practice takes long hours and commitment. As a doctor, health care professional, and business owner, navigating to find a medical practice loan can be a time drain. There are different types of financing options available that you should fully grasp to make a well-informed decision.

The great news is that medical professionals make perfect candidates for lenders. The high earning potential of health care professionals makes it easy to secure a loan at competitive APRs.

That's where Clarify comes in -- we take the guesswork out of funding your private practice. Instead of hunting down lenders to find the best interest rates and compare loan terms, Clarify provides a central marketplace to make it easy and quick. Our trusted advisors help you weigh the pros and cons of each financing offer so that you can focus your time on running your own practice.

Benefits of Medical Practice Loans

Most medical practices rely on payments from insurance companies for revenue. This can result in a delay in receiving payment for services provided. We're committed to helping doctors pursue the American dream. Health care businesses, large and small, can benefit from the simplicity of our lending marketplace. A line of credit or working capital loan can provide the funding to keep moving forward.

Start a New Practice

Beginning a new medical practice requires working capital and initial investment to set up an office, buy equipment, and hire staff. A small business loan can provide a lump sum or other funding options to get medical practitioners started on the right foot.

Grow Your Practice

Health care financing can provide the capital needed to replace aging technology, meet leasing requirements, buy commercial real estate, and retain the people needed to grow your existing practice.

Acquire Another Practice

Get up to 100% of the funds needed to acquire a practice. Financing from a lender lowers your personal risk and ensures a smooth transition after the acquisition.

Lowest APR Financing

Our marketplace of 75+ lenders and banks competes to provide you with the lowest interest rates in the industry. Whether you have good or bad credit, your trusted Clarify adviser works with lenders to secure the best business financing rate.

Consolidate Existing Debt

If you have outstanding debt, a loan from Clarify can consolidate them to a lower interest rate and smaller monthly payments. Consolidation can significantly improve your cash flow and set up your practice for growth.

Instant Approvals

We take pride in having the fastest business loan approval rates in the finance industry. While traditional bank loan programs can take weeks, Clarify can get your health care practice loan application approved and funded in one to two days. Learn More About Fast Business Loans.

The 4 Best Loan Options for Doctors & Medical Practices

Let’s look at the best financing options for health care professionals. When you apply for a loan through Clarify, your dedicated financial adviser will guide you through the process. Our goal is to provide funding that fits the specific needs of your practice.

1. Term Loans for Doctors

When you think of business loans, you likely think of a term loan. A long or short-term loan is structured like traditional financing from a bank. You borrow a specific amount of capital at a specified APR and repayment terms. The duration of the loan term can be flexible based on your cash flow needs.

Why Choose a Term Loan for a Medical Practice:

  • Fast access to capital
  • Approval and funding takes 24 to 48 hours
  • There's no collateral or personal guarantee needed for an unsecured term loan
  • Both good and bad credit scores can get approved by a lender

Apply for a Term Loan


2. Business Line of Credit for Doctors

If you've ever had a home equity line of credit or used a credit card, you already know the overall structure of a business line of credit. Lenders approve you for a maximum credit line, and you can withdraw funds as needed. You only pay interest on funds you use from the available credit line.

Why Choose a Line of Credit for a Medical Practice:

  • Withdraw funds on demand as financial needs arise
  • Interest is only charged on amounts withdrawn, not the total credit limit
  • Can improve your personal credit score
  • There's no prepayment penalty to pay off the balance sooner

Apply for a Business Line of Credit


3. Medical Equipment Loans for Doctors

Medical equipment is the foundation of a successful practice. Aging technology can hamper your ability to provide quality care. Whether you're buying new equipment or paying to repair existing ones, equipment financing can cover up to 100% of the costs. The structure of an equipment loan is similar to a car loan -- the equipment serves as collateral for the financing.

Why Choose an Equipment Loan for a Medical Practice:

  • Quick funding with minimal documentation
  • A good credit score isn't a requirement, as the equipment is used as collateral by the lender
  • Competitive interest rates

Apply for an Equipment Loan


4. SBA 7(a) Loan for Doctors

In cases where your working capital needs are further out into the future, an SBA 7(a) loan can provide some of the best interest rates and terms. SBA loans are secured partly by the U.S. Small Business Administration (SBA). Your actual loan is through an SBA-approved lender. The federal agency provides a guarantee of up to 85% of your loan.

Why Choose an SBA 7(a) Loan for a Medical Practice:

  • Long payment terms -- loan term length can be five to 25 years
  • Good interest rates
  • SBA guarantees up to 85% of the total loan amount to the lender

Apply for an SBA Loan




Frequently Asked Questions About Loans for Medical Practices


Whether collateral is needed depends on whether the loan is secured or unsecured. Many options available don't require any security or personal guarantee. Some funding types, like equipment financing, allow you to use the equipment as collateral. You don’t have to put up other professional or personal assets.
You can complete the application in under two minutes. The length of time until you receive funds varies based on the online lender and which type of financing you choose.
Medical practice loans are typically for health care professionals who want to open their own businesses. At Clarify, we commonly service physicians, dentists, and optometrists, for example, who are ready to take the next steps and become private practice owners.
Lenders look at specific borrower criteria depending on which form of funding you pursue and the goals of your business. The main qualifiers are credit score, time in business, and monthly company revenue.

Types of medical companies we've funded

  • check Doctors & physicians
  • check Dentists
  • check Veterinarians
  • check Nursing homes
  • check Hospice
  • check Home healthcare
  • check Medical professionals
  • check Private practice
  • check Physical therapy
  • check Chiropractors

Potential use of funding for medical businesses

  • keyboard_arrow_right PPE and COVID-related expenses
  • keyboard_arrow_right Facility improvements
  • keyboard_arrow_right Buying new medical equipment
  • keyboard_arrow_right Payroll & taxes
  • keyboard_arrow_right Operating expenses
  • keyboard_arrow_right Hiring new employees, training, and education
  • keyboard_arrow_right Advertising & marketing
  • keyboard_arrow_right Overcoming unanticipated business expenses
  • keyboard_arrow_right Refinance existing debt
  • keyboard_arrow_right Cash flow
  • keyboard_arrow_right Acquiring a practice
  • keyboard_arrow_right Buying or renting real estate for your medical office

Trusted experts in medical financing

When you choose Clarify, we consider you family -- and work with you through the ups and downs of running a medical practice.Medical Practice Financing Team

keyboard_arrow_right See why doctors love Clarify

Medical Practice Financing

"I had a wonderful experience working with Clarify Capital. Michael helped me secure a loan to buy out my partner. He was honest and transparent through the entire process. For a loan with no collateral, the rate and term were very reasonable. I’m looking forward to working with them again when I need to buy new equipment for my practice."

James
Plastic Surgeon
Portland
5-star Trustpilot reviews5-star Trustpilot ratingClarify Capital is rated 10/10 based on 252 reviews on Trustpilot

Ready To Grow Your Medical Practice?

Get approved for medical practice financing today and have money in your account within as little as 24 hours. No obligation -- prequalify without affecting your credit!