Medical Unsecured Loan Programs for Chiropractors

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Unsecured Chiropractic Financing Program

Chiropractor Only Program:
Degreed Medical Chiropractors.
Must have Experian FICO Credit Score 675 or higher.

Loan Amount Available:
$25,000 to $50,000
1. 5 years Time Owning Current Practice.
2. Medium 4 average business bank balance.
3. Last year’s complete personal and business tax returns. After 4/15 of each year, the prior year tax return must be supplied. Extensions are not acceptable.
4. Minimum 675 FICO Credit Score.
5. Personal guaranties are required on all transactions.
6. No home based practices.

Loan Amount Available:
$50,000 to $75,000
1. 7 years Time Owning Current Practice.
2. High 4 average business bank balance.
3. Last two year’s complete personal and business tax returns. After 4/15 of each year, the prior year tax return must be supplied. Extensions are not acceptable.
4. Minimum 675 FICO Credit Score.
5. Personal guaranties are required on all transactions.
6. No home based practices.

These Loans Are Secured with a Promissory Note.

GENERAL REQUIREMENTS:
• Transactions between $25,000 and $75,000 only.
• Verification that chiropractic license is active and in good standing.
• Student loan delinquencies may be grounds for application decline.
• On-site inspections are required on all transactions $50,000 and over.
• Spouse’s personal guaranty is required on all transactions when spouse is active in the practice, a shareholder or a signor on the practice bank account.
• Life insurance assigned to lender required on all transactions $50,000 and over. Not required where there is more than one doctor is in the practice. When there is a husband and wife Chiropractic team, life insurance is only required on the husband.
• Loan must be to expand current practice. No practice acquisitions can be considered.

This Program Is Not Available In The Following States: Alaska, Hawaii,

• [Bankruptcies Will Be Considered After 5 Years If Clean Credit Has Been Re-established!]

Unsecured - No Collateral - No Security - Fixed Rate - Must Cash Flow - Fast Closing
Medical Equipment Purchase - Debt Consolidation - Practice Remodel - Build-Out - Practice Acquisition - Meet Payroll Needs - Pay Off High Rate Credit Cards - Meet Your Cash Flow Needs Pay IRS Taxes - Pay Insurance Premiums - Pay Associate Recruitment or Placement Fees - Insurance Reimbursement Delays - Pay for Professional Coaching - Pay for Practice Development & Marketing - Meet Marketing & Advertising Campaign - And More – You Name It!
Unsecured loans are fixed term, unsecured personal loans backed only by a signed promissory note. It is usually extended to people with proven credit record and who are personally known to the lender. It is also referred to as a good faith or character loan.

The interest rates are fixed and depends on the credit rating of the borrower are close to the prime rate, which changes on a monthly basis.

Loan amounts range from $25,000 to as much as $75,000 depending on credit score. Credit checks may be made that will affect eligibility for the loan and some documents may be required for assessment.

The Unsecured loan appears to be the ideal loan to have as a business loan because the approval criteria are somewhat relaxed and the interest rates are attractive.

However, it appears to be on the subjective side, because you have to know the lender over a period of time, long enough to have established good credit. Not everyone knows a lender, unfortunately and with our program may qualify for a signature loan.