As a medical professional there is a constant need for financing. When your personal and/or businesses credit history is less than perfect it can seem nearly impossible to obtain the financing your practice needs. Luckily there are many lenders who offer bad credit medical professional loans, opening up a financial path way to help your business get back on track.
A bad credit medical professional loan is exactly what it’s name says, a loan specifically designed for medical professionals with bad credit. This type of loan often requires the borrower to secure the loan with personal or business assets. The interest rate may be on the high end, however after making regular payments you could refinance to get a much lower rate. Bad credit medical professional loans have fixed repayment terms, offering you a predictable monthly payment that is affordable for your practice.
Medical professional loans can be used for a variety of purposes. Many Doctors and Dentist will use this form of loan to cover practice startup costs, equipment purchases, expansions and renovations. Medical professional loans can also be used to cover operational costs, for many practices this relieves the burden while waiting for insurance payments.
Chris Fuller went to the University of South Florida and has worked in the financial sector for over 20 years. He has extensive experience in all aspects of personal and small business lending, from personal loans, equipment finance to cash flow based solutions for small mom and pop businesses, and large corporations.
