Finding physician loans for doctors is not easy. Many new doctors are surprised to find they have a hard time finding the funds to start their own business when they just borrowed thousands of dollars to get their medical license. They may already be deep in debt, and they need to go deeper in debt if they ever hope to be able to pay the school loans off. Following below are some other options, and some ways to make finding financing easier.
Start With Someone Else
You do not have to open your own practice right away. You could start in another office if the opportunity arises. This will allow you to start your career making income and without further debt. Another bonus is that you could gain a patient base that may move with you (should you ever decide to start your own practice at a later time). With more experience and a great patient base it will be somewhat easier to get new medical practice financing.
Consider a Franchise
Did you know you could buy a doctor’s office franchise? One such franchise that is fairly well known is Doctors Express. The franchise advantage is very real when it comes to financing, as the name recognition is already there and the head office has already done all the market research and such necessary to determine whether or not the demand is sufficient. The drawbacks include less control over hours and schedule than you would have otherwise. These types of businesses are often opened after hours and on weekends so that they are available at times when potential patients may not be able to get in to their regular doctor’s office.
Biz2Credit boasts a network of over 1,300 lenders that offer new medical practice financing of all types. Our helpful representatives can ensure you find the perfect lenders with just the right loan products for your needs. Visit Biz2Credit today to find out more