Access to capital is one of the most critical components of a successful business. Attorneys, CPAs, dentists, doctors, and various other professions are increasingly turning to loans to help them grow their practices. If you are a professional who is thinking of opening up your own practice, you will need access to working capital that helps fund development and growth within your business. With access to capital you will have the ability to meet certain business expenses that occur throughout operation. Aside from this, there are several reasons why a professional would need financing for his or her practice.
Many professional loan recipients use their financing for the following reasons:
- Investing in additional equipment or technology
- Acquiring or expanding current office space
- Expanding practice’s scope
- Relieving shortages in cash flow due to late invoice payments
What’s the Process?
Many traditional lenders will want a form of collateral or guarantee when issuing a professional loan. This increases your exposure, and can put assets such as your family home or car at risk. In addition, many lenders will want extensive documentation and business history that you may not have if you are just starting your first business. Approval can take weeks, or even months, depending on your lender — this can create missed opportunities and unnecessary waste.
We help our borrowers rid themselves of the headaches associated with traditional finance. Our entire application process is done through our streamlined online application which can provide automated responses quicker than our industry competitors. If you can provide basic revenue data we will be able to review your business’s potential performance and grant you funding to help promote and grow your practice. Our professional loans give our clients access to up to $150,000 in capital. What are you waiting for? Don’t let an opportunity pass you by, apply today!