Medical Practice Financing – Configure Capital

Medical Practice Financing & Business Loans

Enhance the growth of your medical practice through prompt and competitively priced financing

Obtain loan terms meticulously tailored for medical enterprises, physicians, and healthcare professionals. Submit your application online to receive immediate approval.

Finance your practice up to $5M
Funded within 24 to 48 hours
APR starting at just 6%
6-month to 24-month loan terms
Flexible payment schedules
Both unsecured and secured loan options

Won’t impact your credit

Rated

on Trustpilot

Doctors and medical practitioners hold us in high regard due to our ability to provide exceptional service and favorable conditions, resulting in a relationship akin to that of a family.

Fast application process

We acknowledge the importance of your time. Our online application process is designed to be efficient, requiring only two minutes to complete and secure approval.

Medical loan advisors

You will be provided with a dedicated Configure Capital advisor who will manage all necessary documentation on your behalf. Funding will be processed within one to two business days.

Best Business Loans for Doctors & Healthcare Professionals

Scaling up a medical practice or building a startup takes long hours and commitment. As a doctor, healthcare professional, and small 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 healthcare professionals makes it easy to secure a loan at competitive APRs.

That’s where Configure Capital 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, Configure Capital provides a central marketplace that makes it easy and quick. Our trusted advisors help you weigh the pros and cons of each financing offer so that you can focus on running your own practice and following your business plan.

What Medical Practice Loans Can Help You Do

The majority of medical practices depend on payments from insurance companies for their revenue, a process that may result in delays for services rendered. We are dedicated to assisting healthcare professionals in achieving their aspirations. Healthcare enterprises, regardless of size, stand to gain from the streamlined processes of our lending marketplace, characterized by clear eligibility criteria. Below are some potential uses of a medical practice loan for businesses:

Start a New Practice

Initiating a new healthcare practice necessitates adequate working capital and an initial investment to establish an office, procure necessary equipment, and recruit staff members. A small business loan can offer a substantial sum or alternative funding options, enabling medical practitioners to embark on their endeavors with a solid foundation.

Grow Your Practice

Healthcare financing has the potential to provide the necessary capital to replace aging technology, meet leasing obligations, acquire commercial real estate, undertake renovations, and retain the personnel essential for the growth of your existing practice.

Acquire Another Practice

You may secure up to 100% of the capital necessary for the acquisition of a practice. Securing financing from a lender mitigates personal risk and facilitates a seamless transition following the acquisition.

Lowest APR Financing

Our marketplace, comprising over 75 lenders and financial institutions, is dedicated to competing for your business by offering the most competitive interest rates available in the industry. Regardless of your credit standing, whether favorable or unfavorable, your esteemed adviser at Configure Capital collaborates with lenders to obtain the most advantageous financing rates for your business.

Consolidate Debt

If you are currently managing outstanding debt, a loan from Configure Capital may offer the opportunity to consolidate these obligations into a single loan with a lower interest rate and reduced monthly payments. This consolidation can considerably enhance your cash flow and establish a strong foundation for the growth of your practice.

Reasons to Consider Configure Capital for a Medical Practice Loan

When selecting a lender for financing your medical practice, it is imperative to prioritize speed, affordability, and flexibility. The following outlines how Configure Capital meets these essential criteria:

Fast Loan Approvals

We take pride in having the fastest business loan approval rates in the finance industry. While traditional bank loan programs can take weeks, Configure Capital can get your healthcare practice loan application approved and funded in one to two days.

Low APR Financing

Our marketplace of over 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 Configure Capital adviser works with lenders to secure the best business financing rate.

Meet your Configure Capital advisors

We make sure you’re getting the best fast business loan, and set your company up for success. See how it works →

Minimum Requirements

To get medical practice financing from Configure Capital, here are the basic things you need:

$10,000 in Average Monthly Revenue

Your practice must be earning at least $10K per month in a business bank account. You can take the average of the last few months of revenue.

500+ Credit Score

You can get approved with any personal credit score, but lenders may provide more favorable loan terms depending on your creditworthiness.

At Least 6 Months in Business

Your practice should be operational for six months or more. Lenders want to see that your business is established and will be able to make payments on the financing.

Have a Business Bank Account

Your Configure Capital advisor will need three to four months of your most recent bank statements to verify income. To speed up the process, have these ready in advance.

Small Businesses ❤️ Configure Capital

Wonderful experience with Configure Capital

I had a great experience with Configure Capital. Michael was amazing in helping me secure a loan to buy out my partner. He was honest and transparent, making the process easy. The rate and term for a loan with no collateral were very reasonable. I’m looking forward to working with them again when I buy new equipment for my practice.

James T.

Highly recommended!

I learned about Configure Capital from a colleague in the medical field who used their services for a term loan. I decided to check their equipment financing options, and it was a great choice. The documentation was minimal, and the loan was timely. I highly recommend them.

Nicole S.

Configure Capital helped me grow my practice

During my endeavor to expand my practice, I received invaluable support from Michael at Configure Capital. He effectively streamlined the process for me. As a result, I was able to secure the loan necessary to enhance my office space, and my patients have remarked on the noticeable improvements.

Lyonell P.

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 through Configure Capital, your dedicated financial adviser will guide you through the process.

1. Term Loans for Doctors

When considering business loans, a term loan often comes to mind. Whether long-term or short-term, this type of loan is structured similarly to traditional bank financing. A specified amount of capital is borrowed at a designated annual percentage rate (APR) with predetermined repayment terms. The duration of the loan can be adjusted to accommodate the borrower’s cash flow requirements.

Why Choose a Term Loan for a Medical Practice

These loans provide fast access to capital, meeting urgent financial needs.
Credit approval and funding typically take only 24 to 48 hours.
Unsecured term loans don’t require collateral or a personal guarantee, reducing your risk.
Lenders often approve both good and bad credit scores, making this option widely accessible.

Apply for Term Loan

2. Business Line of Credit for Doctors

If you have previously obtained a home equity line of credit or utilized a business credit card, you are likely familiar with the fundamental structure of a business line of credit. Lenders authorize a maximum credit limit, from which you may withdraw funds as required. Interest is incurred solely on the amount of credit that is accessed.

Why Choose a Line of Credit for a Medical Practice

You can withdraw funds on demand as financial needs arise, offering flexibility.
Interest is only charged on the amounts you withdraw, not your total credit limit.
Using this credit responsibly can help improve your personal credit score over time.
There’s typically no prepayment penalty, allowing you to pay off the balance early without extra costs.

Apply for Line of Credit

3. Medical Equipment Loans for Doctors

Medical equipment constitutes the cornerstone of a successful practice. The utilization of outdated technology may obstruct one’s ability to deliver high-quality care. Whether one is considering the acquisition of new equipment or incurring expenses for the repair of existing devices, equipment financing can facilitate coverage of up to 100% of the associated costs. The framework of an equipment loan resembles that of an automobile loan, wherein the equipment, such as an x-ray machine, functions as collateral for the financing.

Why Choose an Equipment Loan for a Medical Practice

This financing option offers quick funding with minimal documentation required.
A good credit score isn’t necessary, as the equipment itself serves as collateral for the lender.
These loans typically come with competitive interest rates, making them a cost-effective choice.

Apply for Equipment Financing

4. SBA 7(a) Loan for Doctors

In instances where your working capital requirements extend further into the future, an SBA 7(a) loan may offer some of the most favorable interest rates and terms available. SBA loans are partially secured by the U.S. Small Business Administration (SBA), while the actual loan is provided through an SBA-approved lender. The federal agency guarantees up to 85% of the loan amount.

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

These loans offer long payment terms, with loan lengths ranging from five to 25 years.
They typically come with good interest rates, making them an affordable financing option.
The SBA guarantees up to 85% of the total loan amount to the lender, reducing their risk.

Apply for SBA 7(a) Loan

Types of Medical Practice Financing

We offer a variety of funding solutions tailored for doctors and healthcare professionals. With guidance from our loan advisors, you’ll find the best fit for your needs. Here are some common examples:

You deserve low rates and an honest practice lender who has your back.

From our humble beginnings in 2018, we remain committed to helping American healthcare businesses achieve success. We keep things simple, convenient, and transparent. Read our manifesto →

FAQs About Loans for Medical Practices

Speedy access to working capital can give your practice the edge. Here are answers to top questions from doctors on medical practice funding.

Is Collateral Required for Medical Practice Loans?

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.

How Long Does the Application Process Take?

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.

What Are the Qualification Requirements?

Medical practice loans are typically for healthcare professionals who want to open their own businesses. At Configure Capital, we commonly service physicians, dentists, and optometrists, for example, who are ready to take the next steps and become private practice owners.

Am I Eligible for a Medical Practice Loan?

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 Fund

Configure Capital provides easy approval loans to any price located in the United States. Here are just a few of them:

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

Ready to Grow Your Practice?

Get approved for medical practice financing today and have money in your account within as little as 24 hours. Prequalify without affecting your credit!

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