DALLAS, Feb. 23, 2016 /PRNewswire/ -- An increasing number of healthcare organizations and professionals are pursuing financing solutions for a variety of purposes. But navigating the financing landscape is challenging, and even small mistakes could waste significant dollars and time.
Before you begin the process, read five things to know about healthcare financing below. They're from Surgical Funds (www.surgicalfunds.com), a firm that provides creative financing solutions solely for the healthcare industry. Created by trusted, veteran leaders in the healthcare industry, Surgical Funds facilitates the highest quality medical financing alternatives for healthcare business owners and professionals, including group practices, ambulatory surgery centers (ASCs), clinical labs, pharmacies, and licensed healthcare professionals.
1. Understand the many uses for financing. While healthcare organizations often apply for loans when planning substantial investments, such as building expansions and renovations, there are many other reasons to consider an influx of capital. These include commercial debt consolidation, capital expansion, startup expenses, refinancing, information technology upgrades, funding a captive insurance program and for emergency cash reserves.
2. Loans are available in small and large amounts. While many lenders require organizations to obtain loans of at least hundreds of thousands of dollars, there are companies willing to provide an array of medical financing programs with limited funding requirements, including much lower loan minimums. With lower minimums, you can apply for a loan in an amount that meets your specific needs and purpose.
3. All organizations and professionals can receive financing. A loan is not just an option for large organizations. Some lenders cater to smaller organizations, including ASCs, pharmacies, clinical labs, and medical groups, and individual practitioners, such as physicians, pharmacists, and advanced practice registered nurses. These lenders may be a better fit for smaller organizations and professionals than a lender serving primarily large organizations.
4. There are alternative lenders to banks. A bank is not a healthcare organization's or professional's only source for a loan. There are companies that provide medical financing that may be in a better position to develop focused, customized programs that meet the challenges of today's healthcare environment.
5. Do your due diligence. With options for lenders and loan amounts, organizations and professionals considering financial products should research their options. Failure to do so could result in partnering with a bank or company with a slow approval and funding process and/or receiving a loan that includes unnecessary fees, an unusually high interest rate, an unreasonable term length and other questionable requirements.
It may be worthwhile to identify companies that offer flexible, innovative funding programs tailored specifically to your organization's type and size or profession. It will be easier to discuss financing needs with a company that has such healthcare expertise.
To learn more about Surgical Funds and take the first step toward accessing the capital you need, visit www.surgicalfunds.com.
About Surgical Funds
Surgical Funds, created by trusted leaders in the healthcare industry, was formed to facilitate creative financing solutions solely for the healthcare industry. With our partners, we strive to offer fast, hassle-free funding programs designed to meet the unique and changing needs of healthcare professionals and business owners. Medical financing programs are available for commercial debt consolidation, capital expansion, projects, start-up expenses, and more. Surgical Funds' lending partners are of the highest caliber and have provided millions of dollars in customized financing programs nationwide. Contact us today to learn how Surgical Funds can provide you with the capital you need by visiting www.surgicalfunds.com.
SOURCE Surgical Funds