Business owners need a broader view of how to get medical practice financing. Of course, that’s no surprise when considering how lucrative your medical practice can be.
In the case of physicians, the average revenue per practitioner is $1,328,625 across all specialties of care. This revenue includes primary care. Therefore, funding these practices can be richly rewarding when the financing is stable.
In the past, securing medical practice financing has been painstaking and slow. However, with a merchant cash advance, business owners can take advantage of financing that keeps up with their business.
Moreover, operating and growing a medical practice means managing capital. This ensures business costs are buttoned up. These costs include:
- Expensive diagnostic equipment
- Vital sterilizers for medical equipment to ensure the protection of patients and staff
- Stretchers & tables
- Defibrillators, patient monitors, and even fluid and blanket warmers
- Marketing costs to build out an online presence
Stay plugged in to determine how traditional loans match a merchant cash advance. In short, your business needs capital fast.
What is a Merchant Cash Advance
A merchant cash advance is a unique tool in financing. It represents working capital that your business can use for many multiple purposes. Even without impeccable credit you can receive cash fast.
Your business needs a team with the experience to listen to your unique needs. A merchant cash advance is a straightforward option for financing general business and medical practices. In addition, you won’t be risking your assets.
An MCA funding company supplies a lump sum payment to your business. Getting an approval is quick and easy thanks to the minimum requirements. Business owners enjoy that MCAs offer convenient access to financing. Receiving funding is in your favor with a merchant cash advance.
In addition, the funding has the flexibility you won’t find with traditional loans. Not only are you likely to be approved, but to receive funding in the amount your business needs. You can use the cash for inventory purchases, business expansion, and more.
An MCA is one of the most honest and transparent lending processes. As a result, business owners can secure funding quickly and easily via a bank ACH deposit or wire to their business bank account. Not having to sift through confusing loan statements and hidden fees, saving time and money.
Your business can utilize the funding to preserve cash flow and improve growth. Let’s have a closer look at just how this process works.
How a Merchant Cash Advance Provides Medical Practice Financing
MCAs are more accessible than ever for medical practice financing. As a result, business owners enjoy a higher likelihood of approvals when compared to traditional loans.
Funding partners for medical practice financing can be found online, even on your favorite search engine. You can even speak to loan specialists over the phone. This process saves time over going into a brick-and-mortar branch. Around-the-clock convenience is unmatched with online options.
From there, you will assess loan options available to your business. There are even options for owners with all types of credit. As a result, Small Business Owners Prefer MCAs over traditional loans.
Without collateral, you can obtain a merchant cash advance to get your medical practice financing. A loan specialist will have a dialogue with you about funding, where you can discuss the financing and repayment terms.
It is even possible for a business to qualify for as much as 400% of its monthly revenue if underwriters find it suitable. Moreover, the use-case limitations for borrowing are a thing of the past with a merchant cash advance.
Simply complete the online application, and supply the necessary documents. The type of business, length of ownership, and use of funds are a few key elements to the online application.
Along with bank statements showing little to no NSF chargebacks, these documents demonstrate an ability to handle capital well.
Let’s uncover why business owners choose a merchant cash advance for their funding.
Why Business Owners are Looking for Alternatives to Traditional Loans for Medical Practice Financing
Business owners who qualify are looking to receive their money fast! Merchant cash advance options give back the freedom traditional loans won’t provide. Applying online means you won’t have to work through lengthy paperwork.
Businesses and medical practices need financing. Unfortunately, they disqualify for traditional loans for different reasons. A merchant cash advance provides a solution for funding. Along with more availability and fewer restrictions.
A merchant cash advance through Merchant Funding Solution comes with flexible repayment terms, early payoff discounts, and fast approvals that won’t solely hinge on credit ratings. In fact, it’s no surprise that more business owners are choosing online application processes. Presently, lending options are invaluable in this fast-paced era of business.
Business owners work closely with funding professionals. This working relationship allows them to discuss the financing terms without securing the loan against collateral.
Specialists and doctors need to grow their businesses. A passion for being a care provider has fewer interruptions when financing helps break free of antiquated processes.
Let’s see how these professionals use their medical practice financing from a merchant cash advance.
Sourcing a Merchant Cash Advance to Supercharge your Medical Practice Financing
When it comes to WHERE you can get one of the fastest and easiest options to get money for your business, look no further than Merchant Funding Solutions. As a small business, you can apply and have the funds deposited into your account quickly.
Medical practice financing is traditionally limited to general and family physicians. A merchant cash advance expands the options available for chiropractors, dentists, dermatologists, and more.
In contrast, a standard SBA loan has numerous lengthy requirements. A merchant cash advance is where you can provide verification of cash flow and complete a straightforward online application process.
Not having to provide additional burdensome documents is a lifesaver. Traditional lenders require a number of qualifications, but your business is nearly guaranteed with an MCA.
In the era of COVID, businesses would prefer to play their financials close to the chest. Handing over more documents than necessary is a thing of the past. Traditional loans don’t have to slow your business growth.
How to Decide on a Merchant Cash Advance for your Medical Practice Financing
The convenient online application process touches on key elements that business owners should review when deciding on a merchant cash advance. These focal points certainly are part of how you will secure financing.
As a business owner, you will need to zero in on the reasons you need financing and the amount you require. Generally, those reasons may include debt consolidation, inventory purchases, working capital, and other uses of funds.
Complete the simple form, including these reasons, to allow a loan specialist to have the most relevant information. Even business owners with less than perfect credit may qualify.
The online application can even be the entryway to financing without collateral. As a small business, you will seek funding at some point. As a result, you won’t have sleepless nights worrying about approval.
Moreover, capital at the speed that you need it is available now. Funds are even available within 1-2 business days and use the loan proceeds without restriction.
How to Secure Funding with Bad Credit
With a merchant cash advance, you can apply for funding fast. Fixed cost options allow you to have repayment plans that fit your business.
Undoubtedly, laboring over in-person or paper applications is a thing of the past. First, you submit a fast and easy online application. Next, our loan professionals will evaluate your business. Bank statements, the income of your business, and how long you have been operating are part of this evaluation.
As a result, the evaluation opens you to multiple options. These options will come with the rates that are right for your business.
Online applying means faster approvals. After deciding on your loan, you will review and sign your agreement. A simple review of the documentation will ensure your loan product is tailor-made for you. Certainly, receiving funding with less than excellent credit is a tremendous advantage. While you solve expense challenges, you will be able to have cash and avoid business interruptions. Meanwhile, there are no restrictions on how you use the money.
Call today to discuss the options in place for your business needs. Above all, open dialogue with a loan specialist may get you the funding needed. Compared to being denied by traditional lenders.
A Merchant Cash Advance goes beyond Traditional Loans for Medical Practice Financing
The drawn-out process of securing a traditional loan is tedious and time-consuming. In addition, getting the medical practice financing you need is complicated with small business loans.
A merchant cash advance offers a faster and more straightforward path to approval. In addition, not needing to secure loans against collateral is noteworthy. In addition, no lockouts due to credit challenges are a win for business owners.
Additionally, the spending freedom and versatility are unmatched. Business owners are waking up to repayment terms that fit their needs and quick access to funds using Merchant Funding Solutions online application process.
Log on now to find out how the team of professionals at Merchant Funding Solutions can help your business.
