Medical practices can require infusions of direct capital for many reasons, including purchasing supplies or financing valuable new equipment. Medical practice financing for existing medical practices looking for alternatives to small business loans to finance growth.
The purchase of a new piece of medical technology can enable doctors and vets to greatly expand their patient care options, but cutting-edge equipment may be too expensive to acquire based on existing cash flow alone. Small business loans are one option for financing expansion, but there are a few disadvantages associated with traditional bank loans that can make them a less attractive option for funding.
For one thing, small business loans require business plans and collateral, and will reject business owners based on bad credit. To evaluate all this takes time, so you could wind up waiting over a month to get approved for the medical practice financing you need right away to pursue time sensitive opportunities. Medcare Solutions does not offer medical loans.
Keeping your medical practice’s equipment up to date is an ongoing concern. Technology is constantly changing, and you simply can’t put off major changes like switching to an Electronic Medical Records system. The business specialized nature of a merchant cash advance makes it an excellent option for medical practice financing. If you are ready for liquid cash that can help you better serve your patients, don’t hesitate to see what we can do for you.
A medical practice requires specialized equipment, tools and sufficient inventory to fully service its patients. We understand the importance to maintain quality service. With technology ever changing, that can be exceptionally challenging and expensive.
In this economic environment, it’s tough to secure medical practice financing, especially if you’re a medical practice that just missed the cut off from a traditional bank loan; or your assets are collateral for other loans. We can help.