Who can Obtain a Medical Professional Loan?
Due to the cost of medical school, it is common knowledge that physicians often times obtain a loan in order to pay for their education.
But did you know that medical professional loans are available to many others? For example, approximately 75 percent of dental students will graduate with more than $100,000 in debt.
Other types of students in the medical field who often require a professional loan include: RN’s, veterinarians, pharmacists, physical therapists, and occupational therapists.
It doesn’t matter what type of medical degree you are working toward, nothing changes the fact that the cost of tuition (along with other fees) can be extremely expensive. If you don’t have the money to pay in full, it may be time to obtain a medical professional loan. You can begin the process by completing our online application.
Of course, the cost of school is just one aspect of the financial requirements associated with working in the medical profession.
For example, a dentist may require a loan to open a practice, purchase equipment, and have working capital during the start up phase. The same holds true for a physical therapist, such as one who is interested in purchasing a building in which he or she can see patients.
The primary benefit of a medical professional loan is that the requirements are less stringent than other types (such as personal loans). Lenders understand these professionals have a lot of education related debt. Rather than hold this against them, lenders relax their requirements to help these people get off on the right foot.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.