Medical practice loans provide specialized financing to expand, equip or staff an operating healthcare practice, factoring in steady patient revenue and delayed insurance reimbursements. Platform Funding provides $5,000 to $3,000,000 with funding decisions typically in 24-48 hours.
You submit the claim and wait while commercial payers and Medicare process it. Payroll and rent don't wait with you. We work with physician practices and other healthcare businesses. Our breakdown of why medical practices run out of cash before insurance pays them back covers the mechanics.
Comparing Medical Practice Financing Options
Physician practice loans are usually the first thing owners ask about. A lump sum isn't always the right fit. SBA loans for medical practice owners, such as the SBA 7(a) loan program, can suit a practice purchase or a large buildout. So can a bank loan. Platform Funding offers neither, but they belong in a fair comparison.
| Option | Typical amount | Term and speed | Best used for | Key consideration |
|---|---|---|---|---|
| SBA 7(a) loan | Set by the lender within SBA limits | Longer terms. Approval often takes weeks to months | Practice purchases, large buildouts | Heavy documentation. Not offered by Platform Funding |
| Bank loan | Based on credit and collateral | Fixed payments. Decisions can take weeks | Projects with a long lead time | Collateral weighs heavily. Not offered by Platform Funding |
| Platform Funding business loan | $5,000 to $3,000,000 | Fixed APR, up to 24-36 months. Decisions in 24-48 hours | A new exam room, an EHR upgrade, a new provider's first months | Fixed payment, so size it to your slowest month |
| Medical practice line of credit | Up to $3,000,000 | Draw as needed. Reusable after paydown | Payroll and supplies while claims are outstanding | Interest only on what you draw |
| Medical equipment financing | $5,000 to $3,000,000 | Lease or finance. Fixed rates on leases | Imaging, diagnostic and lab equipment | Underwriting weighs cash flow and time in business |
| Invoice factoring | Up to $3,000,000 | Funded in 24-48 hours | Unpaid invoices owed by facilities or other businesses | Not debt. Priced as an advance rate plus a factoring fee |
We also offer revenue-based financing, repaid as a fixed percentage of revenue. It is not a loan. Dental offices face the same reimbursement cycle, covered on our page about dental practice financing.
Order of Operations Before You Borrow
- Measure the reimbursement gap. Put 3-6 months of deposits next to what you billed. The difference is what working capital for medical practice payroll has to cover.
- Match the product to the expense. A recurring gap fits a line of credit. A one-time project fits a term loan. A new ultrasound unit fits equipment financing.
- Plan growth separately. Adding a provider is a different decision from covering a slow payer month. See our article on funding options for medical practice growth.
- Borrow for a defined need. Business loans for medical practice owners work best when the amount ties to a specific cost.
- Ask for the full cost first. We don't publish rates. Your account manager shows the total cost before you sign, with no hidden fees.
Why Practices Work With Platform Funding
Platform Funding has provided more than $2 billion to over 30,000 businesses in 12+ years of alternative lending. We hold a BBB A+ rating and a 4.9 out of 5 "Excellent" Trustpilot rating from 583 reviews. We underwrite on cash flow, and a dedicated account manager stays with your practice through every funding round. Read reviews from Platform Funding customers.
"With government changes, our billing cycles changed and we found ourselves in a temporary cash crunch. Platform Funding helped us keep our ambulances on over 250 calls per day and our 100 employees working."
Shake, CEO, Med Life Ambulance
What You Need to Qualify
Medical practice loans and our other capital solutions are for established practices, not startups or acquisitions. We look for:
- At least 6 months in business
- About $10,000 or more in monthly revenue
- 3-6 months of recent business bank statements
- A soft credit pull to prequalify, which does not affect your credit score
How to Apply
- Complete the short online application for medical practice funding and upload your recent business bank statements.
- Review your options with your account manager and get a funding decision, typically within 24-48 hours.
- Review the full cost and terms, sign and receive funds in your business bank account.
Frequently Asked Questions
Who qualifies for medical practice business loans?
Operating practices with at least 6 months in business and about $10,000 or more in monthly revenue. We review recent bank statements and use a soft credit pull to prequalify.
How do you qualify for a $200,000 business loan?
The amount is sized to your revenue and deposit history, so a larger request needs revenue that supports repayment. Send 3-6 months of business bank statements, and your account manager will show you what your numbers support.
What are typical medical practice loan rates?
Platform Funding doesn't publish rates. Cost depends on the amount, the term and the product you choose. Your account manager shows the full cost before you sign, and there are no hidden fees.
Are term loans the only way to cover slow insurance payments?
No. A line of credit often fits a recurring reimbursement gap better, because you draw only what you need. Revenue-based financing is another option. It is not a loan, and the amount collected rises and falls with your revenue.
