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Healthcare Business Loans -  For Your Medical Practice.

Do you need new equipment, employees or inventory for your healthcare business?  We have the healthcare financing tools you need to grow.  Compare healthcare business loans with Upwise.

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Healthcare Business Loans: How They Can Help You

medical practice loans healthcare financing

Running a medical practice comes with many challenges unique to the industry in health care management.  Whether you’re on the front lines facing supply shortages or you’re a specialist who’s seen a dip in patients due to social distancing orders, we understand that healthcare businesses need support.  It might seem overwhelming to manage cash flow through these unexpected ups and downs. That’s where business loans for healthcare companies can help.  

Open a New Location or Upgrade Your Technology & Equipment

If you are a small business owner looking to remodel your healthcare office or open a new location, then a healthcare loan can be used to finance your renovation project.  Additionally, if you need a business loan for medical equipment, see our financing and leasing options.

What can a Healthcare Business Loan be used for?

Software & Technology

  • Put yourself ahead of the competition by purchasing new software and technology using a healthcare business loan
  • Have the extra funds to acquire new technology such as, patient management, treatment and record keeping softwares

Hire More Staff

  • With healthcare business financing, you can address the need for hiring more staff
  • Apart from financing hiring, you may also use funds from a healthcare loan for training costs and payroll to keep your employees happy

Marketing & Advertising

  • Use a healthcare loan to advertise and grow your customer base or promote a new medical practice
  • Build or optimize your website, add new signage, or place a magazine or newspaper ad to generate new patients

Manage Cash Flow

  • Maintain your capital cash flow to manage expenses when experiencing unforeseen medical practice issues
  • Utilize healthcare financing loan options to fund your account receivables and payroll, before your cash flow gets low

New Medical Equipment

  • You can use a healthcare loan to buy new medical equipment to deploy new tests and treatments
  • Use equipment leasing and financing to purchase all types of medical equipment to improve patient care

Purchase New Practice

  • Importantly, medical practice acquisition is going on at an ever-increasing rate
  • Healthcare financing can be taken advantage of to cover the sale price, which allows you to expand your practice without coming out of pocket too much

6 Best Business Loan Options for a Healthcare Business

The healthcare industry has unique challenges when it comes to managing cash flow and working capital.  Undoubtedly, staffing, payroll, receivables and collections are some of the issues we see doctors face.  Therefore, you can use a working capital healthcare loan to bridge the gap between the time you receive payment and meeting your capital needs.  Working capital loans provide a fixed amount of money, with a fixed cost which are paid back over a term of 3-18 months.

Equipment Financing for Healthcare Companies

100% of Equip ValueUp to 8 year terms
Finance or Lease New or Used Equipment
Equipment Used as Collateral
Leverage Equity in Existing Equipment
Monthly Payment Terms

An equipment financing loan can be a great option for a medical practice loan, especially if you are looking to lease or finance a piece of equipment.  Many healthcare companies utilize the latest technology and equipment in order to give the best patient care.  Therefore, a new piece of equipment can certainly have a huge impact on the growth of the business.  A business loan for medical equipment is usually structured as a lease to purchase or a fixed-term loan.

Lines of Credit for Healthcare Companies

Up to $250K6 mo - 2 year terms
Draw When You Need Funds
Only Pay Interest on What you Draw
Save on Interest by Early Repayment
Monthly Payment Terms

Healthcare lines of credit have the flexibility that other loans do not.  Similar to a credit card in the sense that it’s a revolving line of credit which allows you to draw funds as you need it.  Also, you only pay interest on the funds that you draw.  Additionally, early repayment discounts work great for healthcare businesses because once you’ve finished using the money, you can pay it back and save drastically on interest.

Term Loan for Healthcare Companies

$25K - $20M5-30 year terms
Used for Many Business Purposes
Set Repayment Term Length
Fixed Interest Rates
Weekly & Monthly Payment Terms

A business term loan is another great option for healthcare or medical practice companies.  Term loans are meant for those established doctors.  In other words, those that are showing a profit on their most recent tax returns, have been in business at least 2 years and have a good credit score.  The proceeds from this type of healthcare loan can be used for a multitude of business purposes such as marketing, expansion or remodeling.

SBA Loans for Healthcare Companies

Up to $5M5-30 year terms
Longest Payment Terms
Guaranteed by the SBA
Low Interest Rates
Must Have Good Credit

A Small Business Administration loan or SBA loan is a loan guaranteed by the Small Business Administration.  On the contrary, the SBA is not the lender, but they do guarantee the loan through an approved SBA lender.  Even so, a healthcare SBA loan is a highly desirable financing product, however the process is long with many paperwork requirements and high credit standards.  See how an SBA loan for a healthcare business can help you. 

Real Estate Financing for Healthcare Companies

Up to $200M1-30 year terms
Larger Loan Sizes
Interest Only & Monthly Payments
May Require Appraisal
Lower Interest Rates

A real estate financing loan can also be a great option for medical practice financing, especially if you have collateral to secure against the loan.  Many healthcare professionals we come across have equipment, buildings or invoices which can be used as an asset to secure a healthcare business loan.  For instance, medical practice owners will use an asset for more favorable terms, resulting in a higher approval and lower interest rate. Similarly to an SBA loan, the process can be long and require lengthy paperwork.

How to Apply for a Healthcare Business Loan

Healthcare Funding Solutions
to Boost your Success

Small business healthcare loans are easy to secure.  It only takes a few minutes to apply, and Upwise will present you with options.

Applying won’t impact your credit score.

Healthcare Business Loans - Healthcare Financing

Why Upwise for Healthcare

Types of Healthcare Companies We Serve

Medical Practice Financing Healthcare

We offer medical practice loans to a wide range of industries and companies.  You deserve options.  Therefore, Upwise provides healthcare working capital, lines of credit for healthcare companies, commercial loans, business loans for medical practices, medical equipment financing, business term loans, real estate financing and other healthcare business financing options, to meet all your needs.  So, here are some of the healthcare companies & industries we’ve worked with:

Compare All Healthcare Business Loan Options

  • Business Term Loan
  • Line of Credit
  • Equipment Financing
  • Invoice Financing
  • Short Term Loan
  • Working Capital Bridge
  • SBA Loan
  • Real Estate
  • Account Receivables

Max Loan Amount

$25K to $20MM

Unsecured Line of Credit

Profitability

Shown on Tax Returns

Loan Term

5 to 30 Years

Credit Score

620+

Interest Rate

7 % - 30 %

Time in Business

Greater than 2 Years

Speed

As Fast As 2 Days

Annual Revenue

Over $200K

Term Loan

A traditional business term loan is a lump sum of capital that you pay back with regular repayments at a fixed interest rate. The “term” in “term loan” comes from its set repayment term length, which will typically be one to five years long. Most business owners use the proceeds of term loans to finance a specific, one-off investment for their small business.

Loan Amount

$5K to $250K

Unsecured Line of Credit

Loan Amount

$100K to $10MM

Secured Line of Credit

Loan Term

6 Months to 2 Years

Credit Score

500+

Secured Line of Credit: 620+

Interest Rate

7 % - 25 %

Time in Business

Greater than 1 Year

Speed

As Fast As Same Day

Annual Revenue

$150K+

Line of Credit

A revolving business line of credit gives access to a pool of funds to draw from when a business owner needs capital. Unlike a traditional business loan, you have the flexibility to borrow up to a set amount, repaying only the amount you withdraw, plus interest.

Max Loan Amount

Up to 100% of Equipment Value

History

Good Financial History

and Tradelines

Loan Term

1 to 8 Years

or Expected Life of Equipment

Credit Score

500+

Interest Rate

As Low As 4 %

Time in Business

6 Months +

Start Ups Encouraged to Apply

Speed

As Fast As 2 Days

Annual Revenue

100K

Equipment Financing

Equipment financing helps you finance up to 100% of the new or used equipment you need for your business. A fast and easy way to finance the purchase of all types of equipment.  With a secured loan against your equipment, you can take advantage of the equity in your existing equipment, or use newly-purchased equipment as collateral.