Medical Working Capital Loans

Medical Working Capital Loans

$25,000.00 to $450,000.00
 
Program Now EXPANDED to Healthcare Providers

Here are just a few examples of Healthcare businesses and providers that are now available for Working Capital Loans! 
Assisted Living Facilities, Chiropractors, Nursing Homes, Sonographers, Physicians Assistants
Call us today with your potential Healthcare prospect!
 
Traditional Medical Disciplines That Are Accepted
 
Anesthesiologists, Board Certified Interns, Cardiologists, Cardiovascular Surgeons, Dentists, Dermatologists, Family Practitioners, Gastroenterologists, General Practitioners, General Surgeons, All MD’s, Maxillofacialists, Nephrologists, Neurosurgeons, OB/GYN’s, Oncologists, Ophthalmologists, Opticians, Optometrists, Oral Surgeons, Orthodontists, Orthopedic Surgeons, Osteopaths, Otorhinolaryngologists (ENT), Pathologists, Pediatricians, Periodontists, Physical Therapists, Plastic Surgeons, Proctologists, Psychiatrists, Podiatrists, Radiologists, Urologists, Veterinarians
 
Who and What:
  • 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.
General Information:
  • 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.
Guidelines To What’s Needed:
  • 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.
  • Home ownership required on all PG’s
  • All medical and dental professionals must be licensed for a minimum of two years.
  • A full financial package is required on all submitted applications. Please see submittal checklist below for required information.
Guidelines To Big No’s:
  • No business or business owners with prior Bankruptcy will be considered unless there is significant proof of successful re-establishment
  • No current judgments or collection accounts
  • Not available in Alaska or Hawaii
  • Healthcare business & Medical practices owned and operated by non-medical professionals may qualify for the Working Capital Loan Program.
Submittal Checklist For “Initial” Review
 
              Signed Credit Application
              Detailed write up for use of funds
              3 Months Complete Business Bank Statements
              Current year to date P&L and Balance Sheet
              Previous Year Ending P&L and Balance Sheet
              Most recent Complete 2 years Business Tax returns
              Business Debt Schedule
              Most recent Complete 2 years Personal Tax Returns
              Signed Personal Financial Statement
  • Resume, CV, business projections and any other information you can provide will help to strengthen your application
  • After initial review most applicants will be requested to submit additional information or provide answers to additional questions from underwriting before a decision can be rendered.

Minimum 5-7 days from initial submission to decision


© 2017 LPI Healthcare Financial