Medical Practice Business Loans
You’re building a medical practice but achieving much more: You’re a skilled healer who has made wellness your mission and a caring professional determined to help people throughout your community. When your commitment is matched with Pursuit’s small business loans for doctors and other medical professionals, you can accomplish everything you envision:
- Buy or renovate a building with the space you need for today’s clients and the expansion capacity you want for tomorrow’s team and technology.
- Hire and retain a skilled team to provide experienced and compassionate care that leads in your field.
- Get equipment and furnishings for state-of-the-art care, whether within your private practice or as you build a full-scale residential facility in your community
We also specialize in helping doctors and other medical professionals who may not qualify for conventional commercial loans, including startup and early-stage practices when early-career medical professionals may be balancing medical-school debt with the expenses of launching and building a practice. So, when you’re ready to launch or grow your medical practice, review our medical practice loans to see options that can work for you, including loans for:
- Startup and expanding private practices in just about all medical fields, including general and specialty medicine; optometry practice loans; medical practice financing; physician practice startup loans and more.
- A huge range of needs such as commercial real estate (purchases, construction, renovations and more); office equipment and furnishings; medical diagnostic and treatment equipment purchases and leases; working capital; marketing; computer hardware and software; staffing and more.
- Medical practices throughout Connecticut, New York, New Jersey and Pennsylvania, including urban, suburban and rural practices.
Pursuit’s medical practice loans: The right prescription for smaller medical practices
Pursuit offers more than 15 loan options, including U.S. Small Business Administration (SBA) options, on our own and in partnership with banks and other lenders. These four loan programs are popular for medical practices and related types of businesses:
- Pursuit SmartLoans up to $100,000 are excellent for short-term and more immediate funding needs, from launching a small private practice to upgrading equipment within an existing practice. Established practices that simply need a smaller cash infusion for working capital or simple upgrades may also qualify for up to $50,000 through the SBA Microloan option, which is also offered through Pursuit.
- SBA 7(a) and Community Advantage loans are popular medical practice loans because of their flexibility, advantageous terms and higher funding limits – up to $5 million. Qualified uses for this medical practice financing option include commercial real estate purchases for your business; construction and leasehold improvements; purchases of major equipment; working capital; the expansion of your existing medical practice or the acquisition of another; and refinancing related existing business debt.
- SBA 504 loans offer low owner-equity requirements of just 10% and longer repayment terms on loans up to $5.5 million. They’re an excellent option for medical practice loans, optometry practice loans and other medical professions when you need more funding, along with extended repayment terms. Consider this option when your medical practice project includes construction of a new space or major renovation to an existing location; purchases of equipment; sufficient working capital to help you increase staffing; and to refinance your existing, related business debt. Pursuit offers these loans in partnership with you and a commercial lender, such as your bank (or we can help find a partner for your deal).
Pursuit’s medical practice loans are the right prescription for smaller medical practices
As a medical professional, you know this to be true: The sooner you act, the better the results. Whether you start an application online or by phone, don’t wait to get in touch – our loan advisors will get to know your vision for your medical practice and work with you to help you get the funding you need to succeed.