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Medical Professional Equity Out Loan Program
Underwriting GuideLines:
Degreed Medical Professionals and Certified Specialists!
Time In Practice 3 Years!
Medical License Required!
Must have Experian FICO Credit Score 680 or higher!
$50,000 and Up!
MEDICAL PRACTICE LOAN DETAILS
WHO QUALIFIES:
Medical Doctors
with a Professional Practice.
LOAN
AMOUNTS:
$50,000
and Up.
TERMS:
7-10 Years.
COLLATERAL
REQUIRED:
Business Assets.
INSURANCE REQUIRED:
Assignment
of Property Insurance & Disability Insurance& Life Insurance.
CREDIT
REQUIRED:
FICO Experian Score of 680+
MEDICAL
LICENSE:
Required
RATE:
Fixed Rate %
FEES:
Loan Orgination and Documentation Fee.
DOCUMENTATION:
Loan
Is In Name of Business Does Not Impact
Personal Credit of Professional.
APPROVAL/FUNDING:
Typically 30 Business Days After Receipt of All Docs.
Medical Equipment Purchase -
Debt Consolidation -
Practice Remodel - Build-Out -
Practice Acquisition -
Meet Payroll Needs -
Pay Off High Rate Credit Cards -
Meet Your Cash Flow Needs
Pay IRS Taxes -
Pay Insurance Premiums -
Pay Associate Recruitment or Placement Fees -
Insurance Reimbursement Delays -
Pay for Professional Coaching -
Pay for Practice Development & Marketing -
Meet Marketing & Advertising Campaign -
And More – You Name It!
Loan amounts range from $50,000 and up depending on credit score. Credit
checks may be made that will affect eligibility for the loan and documents are required for assessment.
The loan appears to be the ideal loan to have as a business loan because the
approval criteria are somewhat relaxed.