Planning to start up a new medical practice? Expanding or remodeling your existing practice? Henry Schein Financial Services offers the medical financing and resources to help new and experienced Doctors finance* their practice, whatever the business goal.
Unlike some traditional banks, Henry Schein Financial Services specializes in healthcare practice solutions including practice loans and project financing solutions. We have found that having the right financial tools, knowing what to prepare for, and even what to avoid, can make all the difference for impact greater financial success. We specialize in financing doctor’s need for practice redesign & medical office renovations.
Physician Loans and Medical Practice Loans
Starting a new medical office allows you to bring your vision to life. You have complete control over the care you provide, the staff you hire, your operating hours, and so much more.
We are proud to partner with new and experienced doctors as they begin the exciting chapter of starting their own practice. We are ready to provide the resources, insight, and expertise specific to the healthcare industry that is needed to achieve your practice growth and success.
Henry Schein Financial Services can:
- Prequalify you on application-only status
- Provide working capital business loans*, leasehold improvement, or construction financing
- Customize payment schedules to fit cash flow and financing requirements
- Provide same-day approvals
- Work with you to create a business plan, budget, and cash-flow statement
Medical Practice Funding
Acquiring an established practice has many benefits: an active patient base, cash flow, existing location, equipped office, and trained office staff. The practitioner is able to concentrate on practicing rather than building a business, finding equipment, hiring staff, etc. Practitioners who purchase an existing practice may find an immediate increase in income, the ability to make immediate debt-reduction payments, and reduced pressures associated with business ownership.
Henry Schein Financial Services can assist you with:
- 100% financing*
- Simple application process
- Same day approvals
- Funds to modernize/upgrade equipment
- Commercial real estate loans
- Customized payment schedules to fit cash flow and financing requirements
- Working capital business loans*
- Deferred and graduated (step) programs
- Financing Preapproval
At Henry Schein Financial Services, we understand the challenges doctors, physicians, and medical professionals face when making business decisions and obtaining financial resources. We will partner with you to provide a customized strategy to help you acquire the financial solutions needed to achieve your business goals.
3 common questions reguarding medical practice financing
How do you finance a medical practice?
While there are many types of financing available for medical practices, not all are created equal, and many are designed for specific uses and various practice needs. These can range from a business line of credit, start-up loans, equipment financing and leasing, Small Business Administration (SBA) loans, and many more.
What is a medical practice loan?
A medical practice loan is a specific type of business loan designed to provide financing to physicians, specialists, and medical professionals. Depending on the type of loan, this financing can be used for a range of different needs, including operational costs, purchasing inventory or equipment, starting a new medical office, or acquiring an existing practice location.
What does it mean to buy into a practice?
After a physician has worked as an employee for a specified period of time, the practice may offer that physician a partnership opportunity, where the incoming partner would own part of the practice. To do this, the incoming partner (former employee) would need to “buy” his or her share of the practice. This can often be done in a few ways, some of the most common ways are for the new partner to either pay as part of a reduction in salary or a lump sum, often by taking out a loan.
*All transactions are subject to the satisfaction of underwriting guidelines, credit approval, and documentation requirements, and not all applicants will qualify. Certain other restrictions and additional terms and conditions apply
©2023 Henry Schein, Inc. Neither Henry Schein, Inc. nor Henry Schein Financial Services provides financial advice. Please consult your financial advisor. Neither Henry Schein, Inc. nor Henry Schein Financial Services is a bank and neither represents itself as such, nor conducts banking activities. Henry Schein Financial Services may receive a marketing fee from the vendor for products/services purchased.