If you’re just starting your new medical practice, or even if you have been in practice for a while, but are struggling to pay off your debts, then you need the SBA medical practice loan. Don’t wait for good healthcare and medical facilities for you or your loved ones to treat; start your own medical practice or business.
Get an affordable SBA loan to increase your business opportunities and create a new path for yourself. And when it comes to lending this loan, BitX Funding is unmatchable. Our processing time is minimal and friendly to both new and existing medical professionals.
Don’t stop here because here is a guide about the SBA medical practice loan that will make your life easier. Let’s start:
What Types of Practices Can You Get SBA Medical Loan?
This reliable and user-friendly loan program by BitX Funding goes above and beyond its limits to help all medical practitioners. Here is a list of some medical professions for which you may qualify for a medical loan:
Dental SBA Medical Practice Loan
A dental SBA Medical Practice Loan can help you start your practice faster, get the equipment you need, or expand operations. This loan is designed to help dentists expand their dental practices, get the necessary dental supplies and equipment, and start the business. The loan options include a 5-year term. Let us help you finance your dental business at a minimal interest rate. Hence, start envisioning your own venture once you get rid of this credit issue.
Ophthalmologists SBA Medical Loan
Ophthalmology SBA Medical Loan is designed to provide financial relief to healthcare professionals who practice in the field of ophthalmology, who have completed their education, practiced for at least five years, and have been financially stable during that time.
This loan can help you finance your medical practice if you are one of them. Also, you can use it to purchase or improve office equipment, build a new building, remodel an existing one, or buy professional liability insurance.
Optometry Medical Loan
Optometry SBA Medical Loan is a unique program that provides financing to highly qualified optometrists who need access to capital while they work on developing their practices. With this low-interest, flexible repayment program, you can afford to build your business.
This credit is designed exclusively for those who are employed in the field of eyesight, including optometrists, ophthalmologists, surgeons, and opticians.
Allergies/ENT SBA Medical Loan
Allergies/ENT SBA Medical Practice Loans are small loans for doctors who can qualify based on their training and experiences. However, if you are considering opening your private ENT clinic, then this loan type should be your first choice. In fact, you can use this credit to fund a startup or expansion to increase revenue in the business. This finance provides flexible repayment options, including 0% interest and 2 payments per year, for up to 60 months. When choosing a less expensive and less robust option like this service, you may miss out on critical legal protections.
Family Medicine / Primary Care SBA Loans
You can use these credits to meet the short-term needs of an existing patient and their family. Moreover, you can use them to purchase eyeglasses, medical supplies, and equipment or medical procedures that use a needle. To replace something inside the body. In fact, a Family Medicine / Primary Care loan is a small business loan designed to help you buy medical equipment or make improvements to the facilities of your practice.
Dermatologists SBA Medical Practice Loans
Dermatologists’ SBA Medical Practice Loans is a quick, easy, and convenient way to secure funds. They impart an immediate impact on the entire system through the straightforward application process and simple repayment regime, thereby allowing you to focus more on your business. Luckily, we’re proud to offer loans for dermatologists.
Specifically, we offer $5,000 to $500K personal and business loans for physicians who have a particular interest in the skin treatment field. If you have recently sold your practice or are considering retiring from medicine, the SBA medical practice loans might save you hundreds of thousands of dollars by enabling you to continue treating patients.
OBGYN SBA Medical Loan
This credit is the perfect solution for OBGYN’s. OBGYN SBA Medical Practice Loans can help you by giving you a backup plan in case your practice becomes more challenging to run. They’re also a great alternative to expensive short-term health insurance policies, and lastly, they’re tax-deductible! With a small down payment and low-interest rates, it’s an easy way to gain access to the capital needed to open or grow your business. Additionally, these loans can stretch your cash flow and help you diversify your business by offering worth to help run your office or build a new one.
Plastic Surgery SBA 7a Loan
Plastic Surgery SBA medical loan is a part of the SBA healthcare program. It is a short-term loan with flexible eligibility qualifications that can help pay for cosmetic procedures such as body contouring, rhinoplasty, breast augmentation, and more. SBA medical loans are available to qualified individuals who have been turned down for traditional loans because of their medical history. The loan originates from the U.S. Small Business Administration and is backed by the U.S. government, so there are no upfront costs, fees, or payment terms to apply for your SBA Loan.
Podiatrist SBA Medical Loan
A Podiatrist SBA Medical Loan allows you to get the best treatment for your foot problems and receive relief. When you have trouble paying back a VA loan, it can cause difficulties in future service. Our medical loans are designed to help you with such financial challenges while giving you a chance to focus on getting better faster. Moreover, this loan is just like any other student loan repayment plan. You will have to repay your loans through monthly payments for a period of five years after the graduation or completion of the course. Your qualifying expenses may be deductible from taxes if you use the SBA loan service.
Orthopedic SBA Practice Credit
Orthopedic SBA Practice Credit is designed to help your practice develop a comprehensive case management and prevention program that meets the needs of its participants. If a practitioner meets these criteria, steps can be taken to become eligible for this credit.
Reasons To opt For SBA Medical Practice Loan
An application for a medical practice loan can be justified for several reasons. Whether you’re planning to start, purchase, or expand your practice, we have a range of loan options available. The following are some ways you can use an SBA medical practice loan:
- Buyouts or acquisitions of other practices.
- Building a new medical office on the property purchased.
- Refinancing allows the borrower to take advantage of more advantageous loan terms.
- The purchase of medical and office equipment, medical supplies, and inventory that is used in the treatment of patients.
- Renovation of an existing medical office
Various financing options are available to suit your needs. We are ready to help you expand your practice and get the capital you need to take a start.
What Are the Advantages of an SBA Medical Practice Loan?
To maximize their service capacity, medical professionals can take out medical practice loans. Medical supplies, equipment, or staff will never be in short supply. During busy periods, this makes life much easier.
It is also very fast for medical technology to advance. Medical practice loans allow healthcare professionals to acquire these tools quickly, even during slow times. You do not have to have a perfect cash flow to access a loan amount and repayment terms that work for your medical practice with BitX Funding.
Keeping current on bills while awaiting insurance reimbursements or patient co-pays is another advantage. You can access future discounts, lower rates, or longer repayment terms by establishing a good payment record with vendors or suppliers.
Lastly, medical professionals should not forget that they must stay competitive, just like any small business owner, even though they started their careers to help others. Launching a new advertising campaign or renovating the waiting room may be necessary. Medical practice loans are necessary because the medical payment structure doesn’t make it easy to save money for growth.
BitX Funding is the right option if you are looking to find a reliable source for SBA medical practice loan. We deal with all kinds of SBA loans with less than perfect credit history and offer to finance as well. Our loan terms are the most flexible among all medical practice business loans. A dedicated customer support team is always available to assist you with any questions or concerns you may have. So, what are you waiting for? We are ready to work with you 24 hours a day, 7 days a week. Visit our website or call us now and let’s start building your own medical practice.