Working Capital Loans
Medical Working Capital Loans Program
Designed for NEW and established healthcare businesses, medical practices, and dental practices.
Designed to enhance the value of the Healthcare or Medical customer – whether it is by advertising, hiring a new associate, hiring a consultant, taking continuing education classes or purchasing new or used equipment. Borrower has the freedom to choose how to best allocate the funds | Debt Consolidation, Acquisitions, Expansions, Partner Buy Ins and Various Commercial Needs will also be accepted under this program.
Debt Consolidation, Acquisitions, Expansions, Partner Buy Ins and Various Commercial Needs will also be accepted under this program.
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- Transactions require a $495 administrative fee.
- Florida doc stamp tax fee applies to working capital loans.
- Terms of up to 84 months are available and will be set by underwriting.
- Approvals are valid for 15 days.
- Loan does not appear on personal credit bureau unless it becomes severely delinquent.
- Our loan document does not restrict the customer’s ability to borrow, buy, sell or lease equipment as needed for the business.
- Our collateral is a lien against the general assets of the business and the personal guarantee of the owner(s). A first lien position is not required. We take whatever lien position is available at the time of our UCC filing.
- Rates and pre-pays will be set by underwriting.
- The funds will be overnighted or wired to the borrower and he or she can spend the funds as they see fit to enhance the value of the business.
- 640 Minimum Beacon, Fair Isaac or Empirica score required on all PG’s
The borrower’s personal guarantee is always required. Spousal personal guarantees may be required if the spouse is active in the business or a signor on the business checking account.