If you are running your own practice, it is likely that physician financing has crossed your mind more than once. You hate to consider debt, but there are things that need to be done in an effort to keep the practice running smoothly and help it remain successful. Your practice might benefit from a doctor loan program.
What Is It?
There are certain programs that exist for physician financing that offer loans for doctors that have additional benefits, if a borrower is eligible. These benefits could range from an extended pay-off period to lower interest rates, or even an optional extra grace period. Eligibility varies by program and lender, but there are options out there.
How Can the Funds Be Used?
Use of funds guidelines vary as well, but generally there are business loans for doctors available for just about anything business related. Loans can be used to purchase new equipment, improve facilities, and even to expand or change locations. Maybe your office needs a new x-ray machine or phone system? A loan can help with that, and a doctor loan program may be able to offer some flexibility in the way of terms or interest rate.
Where Can They Be Found?
Some lenders may have access to doctor loan programs, as may certain physician institutions. Wading through the hundreds of lenders and various types of loans guidelines for each can be an overwhelming task, but it could be well worth it if you are able to find physician practice loans with great terms or an awesome interest rate.
While finding special loan programs with the term and guidelines you need can be daunting, Biz2Credit can definitely help. Our network of over 1,300 lenders offers various programs for doctors and more. We can help you find the perfect lenders and products for your needs. Visit Biz2Credit.com today to get started and find out what options you have.