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 healthcare professionals pursue the American dream and achieve success with the working capital their medical business needs.

Find Best Medical Practice Loan

Best Business Loans for Doctors & Healthcare Professionals

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

The great news is that people in the medical field make perfect candidates to lenders. The high earning potential of healthcare 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 you can focus your time on running your 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. Healthcare businesses large and small 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 an initial investment to set up an office, buy equipment, and hire staff.

Grow your practice

Healthcare financing can provide the capital to replace aging technology, open new locations, and retain the people needed to grow your practice.

Acquire another practice

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

Lowest APR financing

Our marketplace of 75+ lenders and banks compete to provide you the lowest interest rates in the industry. Whether you have good or bad credit, your trusted Clarify advisor works with lenders to secure the best 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 approval rates in the finance industry. While traditional banks take weeks, Clarify can get your practice approved and funded in 1-2 days.

Apply for Medical Practice Loan

The 4 Best Loan Options for Doctors & Medical Practices

Let's look at the best financing options for healthcare professionals. When you apply for a loan on Clarify, your dedicated financial advisor will guide you throughout 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 are primarily thinking of a term loan. A long-term or short-term loan is structured like traditional financing from a bank. You borrow a specific amount of capital at a specified APR. The duration of the loan term can be flexible based on your cash flow needs.

Why choose term loans for a medical practice:

  • Fast access to capital
  • Approval and funding takes 24-48 hours
  • There is 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 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 -- which you can withdraw funds from as needs arise. You only pay interest on funds you use from the available credit line.

Why choose 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 is no pre-payment penalty to pay off a balance sooner

Apply for 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 equipment loans for a medical practice:

  • Quick funding -- minimal documentation
  • Good credit score is not a requirement as the equipment is used as collateral by the lender
  • Competitive interest rates

Apply for 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 in-part by the Small Business Administration. Your actual loan is through an SBA approved lender. The federal agency provides a guarantee for your loan amount up to 85%.

Why choose SBA 7(a) loans for a medical practice:

  • Long payment terms -- loan term length can be 5 to 25 years
  • Good interest rates
  • SBA guarantees up to 85% of the total loan amount to the lender

Apply for SBA Loan



Frequently Asked Questions about Loans for Medical Practices


Whether or not collateral is needed will depend on whether the loan is secured or unsecured. There are many options available that do not require any security or personal guarantee. Some funding types, like equipment financing, allow you to use the equipment being financed as collateral. That way, you don’t have to put up other professional or personal assets.
The application can be completed in under 2 minutes. The length of time until you receive funds will vary based on which type of financing you choose.
Medical practice loans are typically for healthcare professionals who want to open their own business. At Clarify, we commonly service physicians and dentists, for example, who are ready to take next steps and become private practice owners.
Lenders look at specific 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 Acquire a practice
  • keyboard_arrow_right Buy or rent 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 196 reviews on Trustpilot

Ready To Grow Your Medical Practice?

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