Funding Solutions for Medical Practices of All Sizes
Whether you run a private practice or a large healthcare center, obtaining funding is a constant challenge. Whether medical practices need working capital, equipment, an improved cash flow, or to simply get more control over existing debt, there are a number of options available.
Working Capital for Medical Practices
When discussing funding for medical practices, it’s best to start with the most immediate challenge, which is usually working capital. There are special medical practice loans to help healthcare professionals cover expenses and expand their practices. Medical practice loans offer more flexibility than traditional loans, so medical practices can keep things moving.
Cash flow is always a concern for medical practices of all sizes. Practices usually have revenue tied up in unpaid invoices and end up struggling to purchase supplies, pay salaries, and cover overhead costs. By factoring receivables, practices can get immediate access to revenue and boost cash flow without taking on debt through short-term loans.
Equipment for the Healthcare Industry
Practices need access to specialized equipment to make day-to-day functions run easier. Fortunately, there are medical equipment financing programs, as well as leasing agreements to help practices get exactly the equipment they need. Additionally, there are very beneficial tax advantages for both purchasing and leasing medical equipment.
Debt Consolidation for Medical Practices
Most medical practices are currently juggling debt from three or more loans. With arbitrary interest rate hikes and fees, this means practices are paying widely varying installments each month and trying to keep track of which payment goes where. Debt consolidation combines all of those liabilities into one low monthly payment. No more calls from creditors or hidden fees. Debt consolidation programs are the easiest way to eliminate debt on the books, increase credit ratings, and grow your medical practice.
Talk to the Professionals
At Growth Lending Group, we offer a wide range of funding solutions specifically designed for the healthcare industry. No matter the size to type of medical practice you own, our team will work with you to create a funding strategy tailored to your needs. Contact Growth Lending Group today to get started.