Physicians have a variety of options when it comes to securing a loan. Some of these medico loans include small business loans, medical equipment, prestige vehicles and home loans. It is important to choose the right one for you to help get started on the front foot.
What is medical finance?
A physician loan, or medical finance, is a loan offered to medical practitioners by many financial institutions and banks for several applications, including the establishment of a medical practice or the purchase of an owner occupied or investment property. Medical finance has a maximum cap and it’s often based on the doctor’s specialty, training and tenure (the number of years in his or her medical practice).
These types of loans are ideal for physicians due to their competitive costs. Medical professionals who are opening a new practice or expanding would benefit from a medico loan, but medico loans can even be used for buying property or consolidating debts.
Where can I use my medical finance?
Doctors face unique challenges in their practice. They need financial solutions to move their business forward. Some of these challenges include equipment financing and setting up a new office. Medical finance can help you relocate your business, expand it or improve an existing office location. If you need to consolidate business debts, this type of financing is also ideal. In addition, you can also use it to invest in properties or restructure an existing property loan. The difference with medico loans is the special discounts and rates available to someone in the area of medicine.
Can I get special discounts when applying for medical finance?
There are a number of benefits for medical professionals looking to obtain a loan. Some of these include lower interest rates, faster approval of loan applications, easier cash out and waived evaluation. In fact, some financial institutions also waive insurance fees for mortgage or give discounts for Lender Mortgage Insurance or LMI. They can also offer special interest rates for family members.
What is so special about Medical Finance?
Alliance Medical Finance is a commercial & equipment finance brokerage with specialist products & packages dedicated to the medical services industry. We have particular policies just for you such as:
- 100% funding for practice & premises
- 90% loans for your home with no Mortgage Insurance
- Quick & Easy equipment & vehicle finance up to $500,000
- Same day approvals for prestige vehicles to $250,000
We take the hassle out of the process & let you concentrate on your specialty
Why choose Alliance Medical Finance?
- Speed of service
- Best Pricing in Market
Are you a doctor or healthcare professional? Our finance consultants can help you with your medical finance needs. Talk to our dedicated consultants to learn more about how The Alliance Group can help you grow your medical practice.