Use Healthcare Financing for

Medical Equipment.
Cash Flow.
Buying a Practice.
Medical Office Expenses.
Growth.

Practicing healthcare these days can be very stressful, so Upwise has made finding the right loan for your practice or healthcare business simple.  Whether you’re looking to finance a new piece of medical equipment, buy a medical practice or grow your business, we can deliver customized financing for healthcare professionals in just a few days.  

In today’s complex healthcare market, expanding or improving your physical office or opening a new location can help you attract new patients, giving you the competitive edge for long-term success.  With fast and flexible financing solutions for healthcare professionals, Upwise can be the source you turn to whenever you need to grow your healthcare business.  We ensure you can provide your patients with an extraordinary experience to match the exceptional care you deliver each day.  For more information regarding our licensed healthcare professionals loan, please call one of our in house Healthcare Financing specialists at (646) 837-5522.

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What is healthcare financing?

A healthcare financing loan is a working capital loan designed specifically for licensed healthcare professionals, such as physicians, pharmacists, dentists, therapists, veterinarians, optometrists & more.  The lender will look at the cash flow and revenue of the business to determine the loan amount it can afford.  This healthcare loan has credit requirements above a 650 FICO and longer terms than a typical working capital loan with no personal collateral required.

Maximum loan amount

$20K - $500K

loan term

Up to 12 Years

interest rates

7% - 15.99%

speed

As Fast As 3 Days

    PROS

   CONS

Why Choose Healthcare Financing?

Most healthcare professionals turn to healthcare financing because they’ve had bad luck getting approved by traditional banks or they want a cheaper cost of capital and longer term to give them confidence in their ability to pay back the loan.

The funds from our licensed healthcare professionals loan can be used for a number of possibilities such as: expanding your current practice, updating & improving exam rooms, upgrading technology or equipment, acquiring a new location or practice, to offer new services to patients, debt consolidation, or improve your cashflow.  Just to name a few. 

For more information, please call one of our Healthcare Financing Specialists @ 646-837-5522. 

Most customers who were approved for Healthcare Financing had:

**Based on Previous Upwise Clients

ANNUAL REVENUE

$75K+

Credit Score

Over 660+

TIME IN BUSINESS

2 Years

Licensed

Medical Professional

healthcare loan types

Healthcare Loan Use of Funds

Healthcare Professionals

Licensed Professional Type

What does Healthcare Financing Cost?

You should know how much the cost of capital will run you no matter what type of financing you’re applying for.

Let’s take a look at a cost example.

Example of a Healthcare Professional Working Capital Loan

Let’s say you have a healthcare business that is generating $30K in revenue per month in AL. 

In most cases, the loan will be based on your credit score and revenue of the business.  Medical equipment financing made up the majority of the use of the funds here, since that was the major cost for the new location. 

In this case the client got approved for $200K.  It was his dream to expand his practice into his hometown state of FL.  

The term length was 10 years with an 11% interest rate payment with monthly payments.   You will have the option to pay the loan off early and receive monthly installments.  

Don’t overlook fees on your loan offer—be sure to factor any and all small fees you might have to pay in order to understand the true cost of your healthcare loan.

In order to understand your loan completely, make sure to ask Upwise for an amortization schedule.  All fees associated with the proposal will be transparently laid out for each borrower in a term sheet.  For more information, please call (646) 837-5522 to speak with an Upwise Healthcare Financing Specialist. 

Recent Healthcare Financing Transactions

dental practice financing
DDS/DMD
Hewlett, NY
Experienced dentist was looking to open an additional location to be able to take on more patients. Upwise was able to provide financing for a buildout and over $200K in equipment. Total Loan Amount: $500,000 to be paid back over an 8 year term. This licensed professional was very happy and will be able to pay the loan back long before the term is over to save additional money on interest.
pharmacy financing
Pharmacy
Austin, TX
A pharmacy located in Austin, TX did not have time for the red tape and wait times she got at her local banks, so our financing experts at Upwise stepped in. Total loan amount: $235,000 with an approval in 24 hours. This borrower had excellent credit and was able to secure a 12 year term, one of the best healthcare financing options. As your trusted lender, Upwise offers hassle-free financing with flexible terms.
veterinarian practice financing
Veterinarian Practice
Burlington, VT
A veterinarian practice needed funds to update pieces of operating equipment and have the newest technology for their four legged friends. Utilizing a veterinarian financing program at Upwise they were also able to secure some additional working capital to advertise their new location of the practice. Total loan amount: $75,000 over a 10 year term and monthly payments.
be Prepared

Documents Required for a HEALTHCARE LOAN

The best strategy to follow before you apply for these loans is to be prepared. The more readily available your documentation is, the faster you’ll move through the process.

The following is a checklist of the most commonly collected documents. It can be very helpful to work with your accountant or tax preparer to gather some of the financial documentation.

Bank Statements

We require at least 6 months of your business bank statements. If showing more gives us a better picture on how your business performs, feel free to send us a full year of statements. You may have more than one business bank account, so please make sure to include these statements for each account.

Personal & Business Tax Returns

Upwise marketplace requires the previous 2 years of business and 1 year of your personal income tax returns.

Profit and Loss Statement

Also known as an “Income Statement,” a Profit and Loss Statement measures a company's financial performance over a specific period of time. This statement includes all revenue and expenses over a given period.

Driver's License & Voided Check

To ensure all of your information is correct on the contracts, we require a clear copy of you DL & VC to verify this information.

Balance Sheet

This statement provides an overall financial snapshot of your small business. As an equation, it looks like: Assets = Liabilities + Equity. The two sides of the equation must balance out to equal each other.

Other Documents

These can include entity and location documents such as business licenses, professional licenses, Articles of Incorporation, commercial leases, or franchise agreements.

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