While doctors have three qualities that make them great potential loan candidates — strong earning potential, high net worth, and stable income — that doesn’t mean the financing process for medical practices is a piece of cake. The fact is, many physicians get into trouble when borrowing money because they don’t know how; they have no experience shopping for the best terms and service or paying attention to the details associated with borrowing.
It’s also the case that many doctors turn to traditional lenders in their time of need, and they may not get the response they were looking for. For instance, according to American Medical News, an established practice will have a hard time persuading a bank to lend it money just to carry it over to the next month or year. But, all is not lost, as alternative financers like Clear Skies Capital (CSC) exist to provide money to cover operating costs, and much more.
Why Alternative Financing?
CSC is in the business of helping medical practices overcome the challenges presented by traditional financing, which means we can help you keep your head above water by providing funds for the following expenses:
- Payroll — Whether your payments from insurance companies are lagging or business has just been a little slow, you still have to pay your staff.
- Equipment — To remain competitive, you need to have the latest technology in your office, and that can require a significant outlay.
- Payables — Like payroll, you have to stay current on your payables to literally keep the lights on, etc., even if your accounts receivable lag.
- Move locations — You don’t want to pass up an opportunity to get into a new space because of cash flow problems.
- Expansion/renovation — You know the old saying, you have to spend money to make money, so expanding your practice or renovating your current space may be a smart move.
- Taxes — Your excuses as to why you don’t have the means to pay will likely fall on deaf ears at the IRS, so why not ensure you’re never in that position?
Why Choose CSC?
A working capital loan from CSC may be the perfect solution to help, whether you have a cash flow problem, need to maintain normal operations or want to grow your practice. We want to see you succeed, and are ready to serve as your advocate to get you the funding you need. Here’s how:
- We offer $5,000 to $1 million working capital loans and lines of credit up to $100,000.
- Less than perfect credit is not a problem.
- 500+ credit scores are eligible.
- $12,000+ in monthly deposits is required.
- Our streamlined funding process includes very little paperwork.
- Approvals can occur within 24 hours, with 24-hour access to funding.
- Loan interest is tax deductible.
- Our customer service is excellent.
The Takeaway
Unlike traditional lenders, we understand you may need cash quickly — to bridge the gap between receivables and payables, for planned or unplanned expenditures, and more. We’ve worked with many medical practices, so we’re ready to lend our expertise to your decision-making process and work together toward your success. Discover how much you qualify for by scheduling a free consultation today at https://www.clearskiescapital.com/apply/.