Medical Office Loans

Many of us feel or think that doctors are never in need of money because they are wealthy professionals.  But what we oftentimes forget about or take for granted is that these individuals borrowed tens and even hundreds of thousands of dollars to pay for their books, room and board, tuition, and other expenses while they were getting their education.  As a result, this debt that they accumulated sometimes makes it difficult for them to obtain dental or medical office loans.

Financing Needs of Dentists and Doctors

Dentists and doctors alike are challenged by the need for operating capital on a regular basis.  That need for financing in dental and doctor’s offices is attributed to certain operational aspects such as equipment, expansion, payroll, and of course, working capital.  There is also the issue of seasonality which, believe it or not is a factor in the dental and medical industries.  For instance, during the late fall, winter, and early spring, there is a spike in the number of office visits nationwide because this is the cold and flu season.

Outfitting an office with dental and medical equipment can run in the hundreds of thousands of dollars which most individuals do not have when starting their dental or medical practice.  There is always a need for financing in these professions and that need occurs on a regular basis.  When dentists and doctors decide to expand their practices and open up additional locations, they will need dental or medical office loans to do so.

Another key factor is that smaller medical practices are seeing their operational profitability constantly being challenged and pressured by the ever-growing power of hospitals.  During the year, larger medical practice groups and individual physicians alike analyze, evaluate, and review a number of expenses including:

  • building and occupancy costs
  • electronic records
  • insurance
  • paper records
  • risk management
  • staffing

Efficient office space planning is essential to reducing building and occupancy costs which are the 3rd largest dental and medical office expense.  Biz4loans can provide commercial loans that will enable you to reduce those occupancy costs.  In order to maximize your space-to-revenue ratio, you have to focus on office planning in key areas such as:

  • eliminating physician’s private office space
  • examination and procedure rooms
  • reducing waiting room size

Additionally, it is important that you also assess and review your current lease, location, and tenant mix.  You should also develop a future plan.

Types of Commercial Loans for Hospitals and Medical Offices

Biz4loans offers the following types of commercial and medical office loans:

  • account receivable financing
  • equipment financing
  • lines of credit / working capital
  • purchasing or refinancing medical offices

Features of medical office loans:

  • Adjustable and fixed rates are available
  • Closing takes 2 to 4 weeks
  • Loan-to-Value (LTV) – 90%-100% financing on purchases
  • Underwriting is easy and flexible
Apply now for free (No Credit Check)