Small Business Loans for Doctors

Loans Specialized for Doctors & Medical ProfessionalsExpenses for doctors can seem endless. There is often a need to look into financing options when their practice is no generating enough cash flow or invoices have not been paid yet. Most Doctors and eligible for a loan. Lenders realize the strain student loans put on their credit history and still offer them the financing they need. Doctor loans can be used for a variety of reasons; updates, equipment, and supply purchases meet payment obligations and so on.

What makes a loan for a doctor different?

A doctor loan is provided by banks or other lending institutions to doctors as a loan to meet their financial needs in their practice. Doctors’ loans often have low-fixed rates with flexible repayment options. Lenders offer secured and unsecured loans to Doctors. Those receiving secure doctor loans are required to use an asset as collateral. Those receiving unsecured doctor loans often have a high income within their practice that acts as security to the lender.

Common uses for Doctor loans

  • Updates
  • Renovations
  • Expansions
  • Equipment
  • Supplies
  • Meet payroll and payment obligations

Terms and conditions of doctor loans

Doctor loans often have low-fixed rates starting around 2.5%. This rate varies by each individual borrower and lender. Loan terms also vary by the loan amount. When taking out a secured loan any assets used as collateral can be seized and sold to cover the loan cost if the Doctor fails to meet the repayment obligation.

How to get a doctor loan
  1. Find a lender that offers this type of financing
  2. Make sure you meet the lender’s requirements
  3. Submit an application
  4. Negotiate the terms and conditions to the loan
  5. Sign the contract and set up a repayment schedule
Tips when looking for a Doctor Loan
  • Just as with any other type of loan it is important to shop around to find a lender offering a great loan option.
  • Only borrow what you truly need
  • Make sure your practice can afford the monthly payments
Kayleen M
Kayleen M
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American Business Credit exceeded my expectations! They were so helpful from the very beginning of the process to the end. Everyone I came into contact with were very professional and had valuable incite to help me with any hesitations and questions that I had. I am very impressed with the service they provided. Craig Johnson was my main advisor through this process and I would high recommend him based on his expertise, guidance, and service he provided to me as a client. Any financial needs I have in the future I will be a returning customer of American Business Credit. Thank you Craig for all your hard work.
Derek J
Derek J
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American Business Credit was extremely knowledgeable, professional, and helpful from start to finish. My loan processor Craig was extremely helpful, answering all of my questions as they arose. They delivered the exact results promised during our first call in a timely manner. Highly recommend.
Eduard A
Eduard A
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I am so glad I found ABC, every company or lender I talked to told me we needed to have revenue on our business to get a loan, well we are a start up, and need the loan to get started generating revenue. ABC was able to get us funded at great rates in a short amount of time. I definitely plan on using them again as our business grows!
Erik R
Erik R
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Amazing! Kina Jackson was sooooo helpful and made the process a breeze! We weren't sure what we could get as a start-up and needed a ton of equipment to get our business going. Kina dug deep and found us what we needed to fund our equipment needs and we can't thank her enough! Thanks again Kina and American Business Credit! Stop by the store next time you're in Vegas! - Erik Rogers, Veg-In-Out Market
Cassandra M
Cassandra M
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Kina was amazing to work with. As a new business owner and limited credit history, she really went to bat to ensure my business plan was heard by the lenders, so they felt confident in investing with me. Highly recommend!!
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