A Comprehensive Guide to Medical Practice Loans for Physicians: Part Two
By Bradley Mix | January 30, 2024
In this article we will name several banks that offer Medical Practice Loans. As mentioned in part one of this article series, medical practice loans are specifically designed to provide doctors and medical specialists with the necessary funds to start or expand their practices. Below are the following banks:
- Bank of Tampa: Bank of Tampa’s Practice Solutions, a trusted financial institution, offers Practice Solutions specifically tailored to meet the needs of healthcare professionals. With up to 100% Financing, Bank of Tampa understands the financial demands of setting up a medical practice. With their loan programs, you may be eligible for up to 100% financing, providing you with the necessary capital to cover your expenses. To explore Bank of Tampa’s medical practice financing options visit their website at Bank of Tampa Practice Solutions
- Huntington Bank: Huntington Bank is recognized as a one-stop shop for medical professionals. Their medical practice loans cover various needs such as practice acquisition, partner buy-ins, working capital, equipment financing, and expansion. With competitive rates, flexible terms, and personalized service, Huntington Bank can provide comprehensive financial services for your medical practice. You can find more information about their medical practice loan program on their website: Huntington Bank Medical Practice Loans
- SunTrust: SunTrust understands the unique financial challenges faced by medical students transitioning into practice. Their medical practice loans cater specifically to medical students and recent graduates. They offer competitive rates, flexible terms, and the ability to finance practice acquisitions, equipment, and working capital. To learn more about SunTrust’s medical practice loan program, visit their website: SunTrust Medical Practice Loans
- TD Bank: TD Bank’s healthcare practice financing program is designed to support partnership buy-ins and buy-outs. They provide flexible financing solutions that help facilitate smooth transitions and ensure a fair deal for all parties involved. Their loans cover various practice needs, including acquisitions, expansions, working capital, and equipment financing. For more information about TD Bank’s healthcare practice financing program, please visit: TD Bank Healthcare Practice Financing
- U.S. Bank: U.S. Bank offers medical practice loans tailored to the specific needs of existing practices. Their financing options include practice acquisitions, refinancing existing debt, working capital, and equipment financing. They provide competitive rates, flexible terms, and personalized service to support the growth and success of established medical practices. To explore U.S. Bank’s medical practice loan offerings, visit their website at: U.S. Bank Healthcare Financing
- Bank of America: Bank of America offers healthcare practice loans with a focus on providing project assistance. Whether you need financing for practice start-ups, expansions, equipment purchases, or office improvements, Bank of America can provide customized solutions to meet your specific project needs. They offer competitive rates, flexible terms, and comprehensive support. To find out more about Bank of America’s healthcare practice loans, please visit their website: Bank of America Healthcare Practice Loans
- PNC: PNC understands the unique cash flow challenges faced by medical practices. Their medical practice loans cater to cash-heavy businesses, providing the financing necessary to manage day-to-day operations, expand services, and invest in equipment and technology. They offer flexible terms, competitive rates, and personalized service. For more information about PNC’s medical practice loans, visit their website: PNC Medical Practice Loans
- Wells Fargo: Wells Fargo’s medical practice financing program is tailored for healthcare professionals looking to buy an existing practice. They provide competitive rates, flexible terms, and comprehensive support to help you navigate the complexities of practice acquisitions. Their loans cover acquisition costs, working capital, equipment, and more. To explore Wells Fargo’s medical practice financing options, please visit their website: Wells Fargo Practice Finance
- Live Oak Bank: Live Oak Bank specializes in lending to healthcare professionals, including dentists, doctors, optometrists, and veterinarians. They offer customized financing options for practice acquisitions, expansions, equipment purchases, and working capital. With their streamlined application process and industry expertise, Live Oak Bank can provide valuable support throughout your financing journey. For more information about Live Oak Bank’s healthcare finance options, visit their website: Live Oak Bank Healthcare Finance
When considering medical practice loans, it’s crucial to research and compare offerings from different lenders. Evaluate factors like loan terms, including interest rates, along with other financial products and the customer service provided by the bank.
Author
A Comprehensive Guide to Medical Practice Loans for Physicians: Part One
Brad Mix
Consultants, Growth Acceleration Consultants, Manatee, Mix, SarasotaSpecialty: Capital Access, Startup Brad Mix has more than 20 years of experience in the financial services industry and as a business consultant. Prior to joining the Florida SBDC at USF, Mix provided consulting services to more than 2,500 businesses and assisted business owners in securing more than $100 million in capital and $60 million in government contracts. He has extensive experience with SBA loans, including 504s, Community Advantage loans, and microloans. In addition, he assists business owners in preparing business plans, financial projections, profitability improvement, business acquisitions, business valuations, marketing and capital solutions. He joined the Florida SBDC at USF in April 2020, after spending 20 years as a consultant and satellite manager for the Coachella Valley SBDC, located in Palm Springs, Ca. In 2005, he was awarded the California State Star Award by the California SBDC Network. He is a certified Associate Business Continuity Professional (ABCP).