Medical Business Loans
The medical industry requires a good amount of working capital to function smoothly, and with having to deal with insurance companies and a variety of other factors based on each patient’s individual situation, you might find yourself occasionally running short of working capital. Or maybe you’re ready to start a new practice, expand, refinance existing debt, or buy new equipment.
This is where taking out a small business loan can be very helpful.
Medical Practice Financing
Individuals in a medical field that own their own practice are often good candidates for small business loans due to their high earning potential, net worth, and stable revenue. In fact, many find themselves qualifying for SBA loans – which are generally known to be more difficult to qualify for.
Unfortunately, though, these types of loans require tons of paperwork, including a long application process, various approvals, probably a personal guarantee, and thus take far longer to process and get the funding into your account.
If that doesn’t sound like your cup of tea, the next question would be whether using a bank or alternative funding options will serve you better. If again you enjoy filling out mountains of paperwork and potentially waiting months for your loan to come through, then going to a bank might work well. If however you’re ready to move forward with your business today and don’t want to waste precious time filling out lots of papers, let alone wait more than a couple weeks for funding, alternative funding sources like Worldwide Capital might be your best medical business loans option.
Whether you’re a physician, veterinarian, chiropractor, dentist, you name it – getting personalized medical practice funding to ensure the success of your growing business is imperative for its survival in the economy today.
To find out if WCM would be a good addition to your team, or to ask any questions you may have, please contact us today.
Or fill out our simple online application to see if you qualify right now!