Medical Business Loans
Prepare for a medical practice’s future with flexible, government-guaranteed financing options from Ready Capital.
Improve a Practice’s Potential with a Physician Business Loan
Starting a medical practice, growing a loyal patient base, and expanding operations requires years of hard work—and a significant amount of capital. However, physicians are often denied for medical business loans due to student loan debt and a lack of assets.
At Ready Capital, we don’t approve or deny borrowers based on the strength of their balance sheet. If eligible for a Small Business Administration (SBA) or United States Department of Agriculture (USDA) loan, our team will pursue the right funding opportunities for their practice.
Benefits of a Ready Capital loan include:
- Flexible collateral requirements to fund with minimal assets
- No restrictive covenants to use the loan as envisioned
- Low equity injection allowing less down than conventional loans
- High loan amounts and extended loan terms that do not limit cash flow
SBA 7(a) Business Loans for Medical Practices
If practices cannot afford to put down a significant percentage of their overall loan amount, an SBA 7(a) loan is the ideal option. Borrowers can often obtain the SBA funding they need while only supplying 10% of the total loan amount with no collateral.
USDA B&I Business Loans for Medical Practices
Large medical practices, hospitals, or healthcare facilities in rural areas may need larger loan amounts than the SBA 7(a) program offers. The USDA Business and Industry (B&I) loan program provides up to $25 million for rural organizations with low rates and competitive terms.
Discover Medical Business Financing Options
Struggling to find a medical business loan for a startup, acquisition, or practice improvement project? In a 15-minute phone call, our team can determine a borrower’s qualification for a government-guaranteed loan and begin outlining various options.
Government-Guaranteed Loans for Medical Businesses
At Ready Capital, our team has worked with dozens of medical borrowers who needed funding for various reasons. Here are some of the most common uses of our SBA 7(a) and USDA loans:
Medical Practice Startup Financing
Most medical school graduates don’t have millions to spend on an office, a team of professionals, and high-tech medical equipment. With an SBA 7(a) loan, borrowers can obtain up to $5 million to get a new practice off the ground.
Equipment Financing
The medical equipment of 20 years ago isn’t capable of keeping up with today’s health care demands. If in need of an upgrade, Ready Capital can help obtain an equipment financing loan with reasonable, amortized monthly payments.
Business Acquisitions
After many years of service to their practice, some medical professionals earn the opportunity to acquire the company. Ready Capital can help push the deal forward, even with substantial debt and a lack of resources.
Working Capital
During times of patient turnover or wage increases, it can be challenging to keep up with day-to-day expenses. A USDA or SBA 7(a) loan can help cover critical costs while focusing on restabilizing an existing practice.
Hands-On Guidance from a Top Medical Business Loan Lender
Government-guaranteed loans offer an alternative funding option to businesses in need, but that doesn’t mean they’re easy to get. If a business plan isn’t buttoned up or borrowers forget to submit one of several necessary documents with their loan application, they can lose out on financing opportunities.
As a top USDA and SBA lender with extensive experience structuring and closing loans, Ready Capital ensures all bases are covered during the medical business loan application process. From our initial phone call to the day we close a loan, our team is always available to provide support and personalized business recommendations.