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  • Hide What are your practice loan interest rates?

    Our rates are very competitive with other lenders and vary depending on whether you’re seeking a loan for purposes of a start-up, practice acquisition, commercial real estate purchase, additional location, existing debt refinance or line of credit. Rates also vary by term (the number of months over which you finance the loan amount). Call 1.800.497.6076 to speak with a Practice Specialist who can provide you with an accurate estimate of the rate associated with your specific financing needs.

  • Show What loan terms do you offer?

    Loan terms vary based on the type of financing you’re seeking.

    • Start-up financing: Up to 15 years with the flexibility of a deferred graduated payment plan.
    • Established practices: Up to 20 years with the flexibility of deferred or interest-only payments.
    • Commercial real estate financing: Up to 25 years.
    • Equipment purchasing: Up to 7 years (loans up to $75,000) and 10 years (loans over $75,000). We also offer deferred and interest-only payments for equipment loans.
  • Show What loan fees do you charge?

    Fees and discounts can vary significantly depending on the type of loan, the amount being financed and the desired terms of the loan. Call 1.800.497.6076 to speak with a Practice Specialist who can provide you with an accurate estimate of the fees associated with your specific financing needs.

  • Show Are any fee discounts offered to endorsed group members?

    Bank of America is endorsed by more medical and dental state associations than any other specialty lender. Endorsed group members receive a 50% discount on administration fees associated with a funded loan.

  • Show Do you offer straight working capital?

    Yes, in conjunction with new start-up loans. We also offer business lines of credit.

  • Show Can I refinance credit cards with a practice loan?

    No, but you can use a practice loan to consolidate all business loans, equipment loans and business lines of credit tied to your practice.

  • Show What is the maximum amount I can borrow?

    We offer loan amounts up to $5 million.

  • Show Do you offer 100% financing or graduated (step) payments?

    Yes, we offer both. You may choose one of several graduated payment structures with any practice start-up loan.

  • Show What are the loan approval requirements?

    Approval requirements vary based on the type of financing you're seeking:

    • Start-up financing: In most cases, completing an application over the phone with one of our Practice Specialists is enough to submit your request to our credit department for approval
    • Established practices: To refinance, remodel or expand an existing location or to finance an additional location we require 2 years of business and personal tax returns, a year-to-date profit and loss statement and a personal financial statement and debt schedule. If your loan request exceeds $500,000 we also require 3 years of tax returns.
    • Purchase of an existing practice: We require 2 years of business tax returns for the practice you are looking to buy, a year-to-date profit and loss statement for that practice, 2 years of personal tax returns and completion of an application form
    • Commercial real estate financing: We require 3 years of business and personal tax returns, a year-to-date profit and loss statement and completion of an application form
    • Equipment purchasing: We have a simple one-page application that one of our Practice Specialists can complete with you over the phone

    Additional documentation may be required based on other factors. For additional details, call 1.800.497.6076 to speak with a Practice Specialist.

  • Show Which medical specialties do you finance?

    The specialties we finance vary depending on whether you are seeking financing for an established practice or starting up a practice from scratch:

    • Established practices: We offer financing for a wide range of specialties. Call 1.800.497.6076 to speak with a Practice Specialist and discuss your particular specialty and financing needs. 
    • Start-up practices: We offer financing for allergy & immunology, anesthesiology, cardiology, colon & rectal surgery, dermatology, emergency medicine, endocrinology, family practice, gastroenterology, general surgery, internal medicine, medical genetics, nephrology, neurology, OB/gyn, oncology, ophthalmology, optometry, orthopedic surgery, otolaryngology, pathology, pediatrics, physical medicine & rehab, plastic surgery, podiatric surgery, preventative medicine, pulmonary, radiology, rheumatology, thoracic surgery, urgent care and urology
  • Show Can I make a loan payment online or over the phone?

    You cannot make a payment online, but check payments can be processed instantly over the phone for a fee of $20 by calling 1.888.876.0112.

  • Show I'm thinking of starting my own practice. Will you offer any business support in my first year?

    Absolutely. Our Practice Heartbeat® program is specifically designed to help you develop the vital practice management skills you’ll need to succeed. Because we work with health care professionals all across the country, we know what it takes to manage a practice in the most efficient, cost-effective manner. Our Practice Specialists will help you set and achieve your business objectives, track your progress, deliver a comprehensive evaluation of your practice and offer business strategies to help you improve. Practice Heartbeat is 100% complimentary when you undertake start-up financing or are purchasing a practice for the first time. Learn more about Practice Heartbeat

  • Show I'm currently in a residency. Am I eligible for a loan?

    If you are in a medical residency, you are not eligible for a loan until you have completed your residency. If you are in a dental residency, you are eligible for a loan while in your residency.

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