Healthcare Financing
Operating a medical practice takes passion, skill, and the right financing. At Sunwest Bank, we understand the unique needs of healthcare professionals and medical practices. Our customized loans and financing options help practitioners start, grow, and strengthen their businesses.
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Loans for Medical Practices
From pediatricians to veterinarians, healthcare practices have unique equipment, staffing, and facility needs. Financing and small business loans from Sunwest Bank help medical professionals cover startup costs, purchase new equipment, expand facilities, and bridge cash flow gaps. We offer:
- Equipment financing to purchase new medical equipment. Options include equipment loans and equipment lines of credit.
- Working capital loans to cover operating expenses and smooth cash flow. These revolving lines of credit provide flexible access to funds.
- Commercial real estate loans to buy or renovate office space and facilities. We finance medical office buildings, clinics, hospitals, and more.
- SBA loans backed by the Small Business Administration. These government-guaranteed loans offer low down payments and extended repayment terms.
- Practice acquisition financing to help medical professionals buy an existing practice or consolidate multiple practices. We finance the purchase of the entire practice.
Our medical practice loans cater to various healthcare professionals, including physicians, dentists, chiropractors, optometrists, mental health professionals, pharmacists, nurse practitioners, and veterinarians. We understand medical practices’ unique needs and cash flow cycles and tailor financing accordingly.
We offer customized solutions for solo practitioners, small clinics, large physician group practices, outpatient centers, hospitals, and other healthcare businesses. Our experts help you identify optimal financing strategies based on factors like:
- Your practice size, specialty, and number of locations
- Revenue history, profit margins, and cash flow
- Existing debts, assets, and capital reserves
- Growth plans, including expansions, equipment purchases, staffing increases
- Timeline for loan repayment and projected future revenue
With tailored business loan amounts, competitive rates, flexible repayment options, and expert guidance, Sunwest Bank helps medical professionals fund nearly any business need.
Business Financing Options
In addition to loans specifically for healthcare providers, Sunwest Bank offers versatile business financing suitable for medical businesses. Options include:
- Business lines of credit provide revolving access to operating funds on an as-needed basis
- Term loans for more significant, long-term capital expenditures
- Equipment financing for major medical equipment purchases
- Construction loans to build new healthcare facilities
- SBA loans with low down payments and extended repayment periods
Our experts help you select the right loan products and business loan amounts based on your practice’s needs. We’ll help you manage operating costs, expand facilities, refinance debt, and finance major purchases with loans tailored to your medical practice.
Financing for Established Practices
If you’re an experienced medical professional looking to expand an established practice, Sunwest Bank offers sizeable financing options designed for existing businesses. Options include:
- Working capital loans to smooth out cash flow gaps
- Practice acquisition loans to buy another medical practice and consolidate
- Commercial real estate loans to renovate or expand your existing property
- Refinancing to replace existing business debt with better rates and terms
- Sizable lines of credit providing flexible access to operating capital
We can help established businesses finance renovations, expansions, equipment upgrades, consolidations, and real estate purchases. Our loan experts help you select optimal financing strategies for growing an existing healthcare practice.
Structuring the right financing package starts with an in-depth evaluation of your practice’s financial position. We’ll review factors like:
- Time in business, number of locations, and specialty
- Staff size, patient volume, and revenue history
- Profitability, operating margins, and cash reserves
- Accounts receivable, collateral assets, and liabilities
- Past growth and plans for expansion
This financial profile helps us design customized financing up to $10 million to meet your needs at competitive rates. We’ll structure the right combination of installment loans, lines of credit, and commercial mortgages to help your established medical practice flourish.
This financial profile helps us design customized financing up to $10 million to meet your needs at competitive rates. We’ll structure the right combination of installment loans, lines of credit, and commercial mortgages to help your established medical practice flourish.
Online Lending Solutions
As an innovative community bank, Sunwest Bank offers advanced digital services alongside our tailored financing solutions. You can easily apply for loans and manage accounts online. Capabilities include:
- Online loan application to apply for financing from the convenience of your home or office
- Online banking to manage accounts and monitor balances 24/7
- Digital merchant services, including credit card processing
- Remote check deposit via mobile or desktop scanner
- Automated bank statements and updates on loan balances
Our user-friendly online platform complements our high-touch, personalized approach. We combine the convenience of online lenders with the expertise of traditional banking.
How Sunwest Bank Compares to Other Lenders
Sunwest Bank stands apart from competing medical practice lenders because of our combination of digital convenience and hands-on expertise. Our advantages include:
- Local underwriting using prudent, relationship-based practices
- Custom loan structuring based on in-depth knowledge of your practice
- Flexible terms and conditions to meet your unique needs
- Personal service from bankers who take the time to understand your practice
- A full suite of business banking products beyond just loans
While some traditional banks rely on rigid policy and bureaucracy, our bankers take a customized, entrepreneurial approach to medical practice finance. We make financing accessible and personalized, with online ease and real human expertise.
The Sunwest Bank Difference
What truly sets Sunwest Bank apart is our dedication to helping medical professionals in our communities thrive. Our local owners, executive team, and employees genuinely care about your success. We get to know you, your practice, and your financial goals personally. With us, you’re more than a number or file.
Our tailored solutions and longtime banking relationships provide stability as your practice grows and evolves. We stick by your side through market fluctuations, changes in your practice, and all of life’s ups and downs. Our customers become our friends. We share pride in the vital healthcare services you provide.
At Sunwest Bank, you’re not just borrowing from a faceless institution. You’re joining a community of professionals passionate about helping medical practitioners make a difference. Discover the Sunwest difference for your unique practice.
Answering Your Healthcare Financing Questions
We know prospective borrowers have many questions about financing a healthcare practice. Here we address some of the most common queries that come up:
What are the main types of healthcare practice loans?
The most popular options are SBA loans, equipment financing, commercial real estate loans, working capital loans, and business lines of credit. We offer tailored products in each category.
How much can an established practice borrow?
With a strong track record, established practices may qualify for over $10 million in customized installment and revolving credit lines. Loan amounts depend on revenue, collateral assets, credit, and other factors.
What financing is best for a startup practice?
For startups, SBA loans allow up to 90% financing with long repayment terms. Equipment financing, medical office loans, and lines of credit also provide affordable startup capital.
How long does financing take to secure?
Each loan process is unique, but you can expect 1-4 weeks from application to funding. Startups and smaller loans often fund faster than large loans for established practices.
What terms and rates are available?
We offer competitive rates and flexible terms from 5 to 25 years. Terms vary based on loan type, amount, collateral, and other factors we evaluate.
How much do down payments typically run?
We offer financing options with 0-15% down. SBA loans allow just 10% down for startups. More collateral and equity lower rates but are only sometimes required.
What credit scores are required?
We focus more on your practice’s finances than personal credit. Strong business financials can offset lower personal credit.
How quickly can financing be accessed?
Once approved, loan proceeds can be available within days to weeks. Lines of credit provide immediate financing flexibility after closing.
What ongoing requirements are there?
Typical requirements are monthly payments made automatically via ACH. We also verify insurance coverage, financial reporting, and collateral management.
Let us know if you have any other questions! Our experts are happy to explain our healthcare financing options and how they can meet your practice’s needs.
An Ideal Banking Partner for Healthcare
At Sunwest Bank, we strive to be an ideal financial services partner for healthcare practices. Our focus goes beyond lending to provide complete banking solutions that simplify and strengthen your business.
In addition to tailored financing, we offer a full suite of cash management, treasury, and merchant services specially designed for medical businesses. Our customizable capabilities include:
- Advanced online banking with easy access to accounts, payments, and reporting
- Remote deposit to quickly process checks digitally
- ACH services collect patient payments and pay vendors electronically
- Merchant processing to accept credit/debit card payments
- Positive pay and check fraud protection to prevent losses
- Consolidated accounts to simplify financial oversight
- Investment and treasury services to maximize returns on reserves
- International services for practices with global activities
We make banking efficient, transparent, and convenient so you can focus on patient care, not financial hassles. Discover how a true healthcare banking partnership with Sunwest can benefit your practice.
Contact Sunwest Bank
Contact Sunwest Bank today to discuss customized financing solutions for your healthcare practice. Our experts are ready to help you acquire the capital you need to provide excellent patient care and grow a thriving medical business.
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Startup Financing for New Practices
Starting a brand new medical practice presents unique financial challenges. At Sunwest Bank, we help healthcare professionals secure the startup medical practice loan they need to get their medical practice off the ground. Financing options include:
- Small Business Administration loans require just 10-15% down with long repayment terms
- Equipment financing for major medical equipment purchases
- Commercial real estate loans to purchase or build office space
- Lines of credit to cover operating expenses as your practice ramps up
Our lending team helps new practitioners obtain necessary business licenses, fund initial costs, finance office build-outs, and bridge early cash flow gaps. We understand launching a new medical practice requires significant capital investment, and we work with you to secure financing that positions your business for longevity and success.
For new practices without an established track record, we’ll evaluate personal factors like:
- Your education credentials and professional experience
- Personal credit score and history
- Existing assets, debts, and reserves
- Planned practice model, specialty, location, and timeline
This helps us advise you on optimal startup financing options, loan amounts, and repayment plans. With Sunwest Bank, you can turn dreams of opening your own practice into reality.