Healthcare Business Loans

Financing to keep your healthcare business growing
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Doctor and patient
Doctor

We help healthcare businesses take care of their financial health

The COVID-19 pandemic has upended business-as-usual for healthcare businesses. 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. If you find your healthcare business needs financing, here are our recommendations for your best options.

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SBA Coronavirus (COVID-19) Loans

Through the CARES Act, the SBA has expanded financing options for small businesses to help them weather the economic downturn of the COVID-19 pandemic.

  • Paycheck Protection Program (PPP) Loans: Small businesses can apply for loans up to 2.5 times their average monthly payroll costs. Some portion of the loan may be forgivable if it’s used to finance continued employee-related payroll costs.
  • Economic Injury and Disaster Loans (EIDL): Small businesses that have experienced “substantial economic injury” as a result of the COVID-19 pandemic can apply for low-interest disaster loans.
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Other Loan Options

SBA loans aren’t the only financing solutions for healthcare businesses. Here are some of the best options to support your healthcare business—now and in the future

Commercial Mortgages

Opening a private practice? Finally ready to ditch the instability of a landlord and take the space of your medical office into your own hands? Say hello to a commercial mortgage. A commercial mortgage is similar to a residential mortgage in that it’s used to finance a property, but this type works for your healthcare business. Commercial mortgages can also be used if you’re planning major renovations or updates to a medical office you already own.

Accounts Receivable Financing

Patients and insurance companies slow to pay? We feel your pain and so does accounts receivable financing. This small business loan allows you to borrow against the money you are owed to increase your working capital in the short term.

Equipment Loans

Healthcare can come with some big-ticket equipment. If your business needs to purchase or repair a CAT scan machine, laser, or X-ray machine for your medical or dentist office, consider an equipment loan. This form of financing was designed specifically for use to buy or fix business-related equipment. Because the equipment itself secures the loan, it can be easier to qualify and you may be eligible for lower rates.

Business Term Loans

The business term loan is the steady, classic business loan option. If you’re looking to keep it classic, business term loans offer terms typically between 1 and 3 years and can fund a variety of needs.

Business Lines of Credit

Financing when you need it, flexibility when you don’t. A business line of credit allows medical professionals to borrow against a predetermined sum of money. You can borrow as much as you want, as often as you’d like. There’s no obligation to use the full amount and you only owe interest on what you use.

Business Credit Cards

Business credit cards are a part of a balanced financial diet for most businesses. Operating a healthcare business comes with costs. From disposable gloves and tongue depressors to printer paper, every medical business regularly needs to purchase supplies. Make those purchases work for you with a business credit card, which may allow you to earn rewards for these purchases. Earn enough rewards and business-as-usual may be able to help pay for your next much-needed vacation.

Business Acquisition Loans

Ready to take the next step in building your healthcare empire? A business acquisition loan can help you finance the purchase of an existing dentist, doctor, or other medical business. A business acquisition loan empowers you to take advantage of that phenomenal business opportunity, even if you don’t have the capital to purchase it outright.

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Apply for a Healthcare Loan

Save time in the business loan process so you can get back to what really matters: taking care of your patients. Use Lendio’s single 15-minute application to gain access to loan options from 75+ lenders. You won’t find a better value for your time. Then, once you’ve completed your application, we’ll pair you with a personal funding manager, your dedicated business loan expert, to help you dot your I’s, cross your T’s, and weigh the pros and cons of each loan to ensure you end up with the very best loan for your business.

How to Apply

Complete our simple, easy application. It’s free, doesn’t affect your credit, and takes just 15 minutes.

“My team at Lendio was fantastic! Very professional, personable, and very responsive to my questions. They made the entire process simple. I highly recommend them!”

– Janice Y.

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