General Information and Credit Criteria

Loans from $50,000 to $5 Million
Application only to $ 250,000**

• Working capital loans are designed to enhance the value of the medical practice - whether it's for advertising, hiring a new associate, hiring a consultant, taking continuing education classes or purchasing new or used equipment, the Doctor or Licensed health care Professional has the freedom to choose how to best allocate the funds.
• Designed for startup and established medical or dental practices. (Doctor must be licensed a minimum of 2 years and Veterinarians and Physical Therapists must have 2 years time in business).
• The Working Capital Loan Program is designed for the medical professional operating his or her own practice on a day-to-day basis - not a property management or investment company owned by a medical professional.
• Medical practice owned and operated by non-medical professionals DO NOT qualify for the Working Capital Loan Program. However, ALL Licensed Health Care Professionals are Eligible.
• Loan does not appear on personal credit bureau unless it becomes severely delinquent.
• A check will be overnighted to the Doctor and he or she can spend the funds as they see fit to enhance the value of the practice.
• A 60 month loan term offers the Doctor the lowest interest rate.
• Terms to 72 months on loans over $50,000 (if requested and approved).
• No advance payments are required. First payment is collected in arrears.
• The Doctor's personal guarantee is always required. Spousal personal guarantees may be required if the spouse is active in the practice or a signor on the business checking account.
• Minimum 620 Beacon or Fair Isaac score required.
• Approvals are valid for 30 days.
• Tax returns may be required when revolving debt is $50,000 or greater, excluding secured lines of credit. When revolving debt is $25,000 but less than $50,000 with less than 40% revolving available, tax returns may also be required.
• Our loan document does not restrict the doctor's ability to borrow, buy, sell or lease equipment as needed for the practice.
• Our collateral is a lien against the general assets of the practice and the personal guarantee of the Doctor. A first lien position is not required. We take whatever lien position is available at the time our UCC filing.
• Life insurance assignments are required on all working capital transaction $50,000 and over. Life insurance assignments are normally waived for multiple Doctor practices.
• Early payoffs are calculated to "present value" discounting the sum of the remaining payments using a 6% per annum rate.
• Bankruptcies will be considered after 5 years if clear credit has been re-established.
• Unfortunately, we do not offer loans in Alaska, Arkansas, Hawaii, Montana, New Hampshire, Rhode Island and Vermont.
• Rapid Funding.
• Florida doc stamp tax fee applies to working capital loans.
• Remember--APPLICATION ONLY to $250,000.