Medical Practice Funding
There were over 46,000 physicians across Canada in 2020. Provide your patients with the best care and help grow a healthy medical practice with up to $500,000 in funding from Greenbox Capital® in as fast as 24 hours.
Fast Medical Practice Funding You Can Trust
Federal funding programs and commercial banks often consider doctors and medical practices to be ideal candidates for funding because of their high earning potential, high net worth, and stable income. However, the application process for these lenders can last months, and there’s no guarantee of approval. While you wait, your patients’ health may suffer, and opportunities to grow can vanish.
As an alternative lender, Greenbox Capital® can approve more medical practice funding than traditional lenders, and we can approve funding faster, with funds deposited in as little as one business day. We provide multiple types of doctor office funding to help grow your medical practice, with funding from as low as $3,000 up to $500,000 and no restrictions on how you can use your funds. We fund all medical specialties in Canada, including general practitioners, psychiatrists, dermatologists, veterinarians, and more.
How To Use Medical Practice Funding
There are no restrictions on how you can use your funds. Doctor office funding is ideal for supporting growth initiatives that will increase your practice’s revenue, such as improving or expanding your practice. Use your funding to:
- Hire staff so you can expand your practice’s services and take on more patients
- Upgrade or invest in new equipment or lab supplies
- Develop a secure website to offer new services like online booking or virtual care
- Energize your marketing and advertising to bring in more patients
- Purchase a new location or expand your current practice
- Renovate your office to offer a more comfortable patient experience
Sometimes, medical practices need a quick infusion of working capital to help meet the unique challenges of their field, such as:
- High patient turnover
- Delayed or denied insurance claims and trouble receiving timely payments
- Meeting new patient needs, such as offering remote care or shorter wait times
- High cost of medical equipment, technology, and supplies
- New equipment and training required to keep up with changing standards
How Medical Practice Funding Works
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1
Apply
Gather 3 months of bank statements and other records. For faster approval, grant us secure access to your bank account’s transactional data.
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2
Choose Funding
A Funding Advisor will reach out to you within 1 hour (during regular business hours) to complete your application & discuss your funding options.
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3
Get Funded
Once you and your Funding Advisor determine what funding option works for your business, your funds can be approved and deposited within 24 hours.
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4
Set Repayment
Payments will be automatically deducted from your business’s daily or weekly debit and credit card sales. Payment amounts will be based on your sales.
Will You Qualify for Doctor Office Funding?
Exact qualification requirements depend on the type of medical practice funding you are seeking. Approval for medical practice funding from Greenbox Capital isn’t based solely on your credit score or financial history. We focus on the overall health of your business, including:
- Business revenue
- Cash flow
- Vendor payment history
- Years in business
- Public records
Empower Your Medical Practice with Specialized Equipment Financing
State-of-the-art medical equipment plays a pivotal role in the success of healthcare businesses. Our medical equipment financing service offers a lifeline to practitioners seeking to procure or lease cutting-edge equipment or enhance their existing inventory.
Whether you’re a solo practitioner, a small clinic, or a larger healthcare facility, our flexible financing options are designed to accommodate your specific requirements, enabling you to stay ahead in an ever-evolving medical landscape.
In the ever-evolving landscape of medicine, having access to cutting-edge equipment is not just a luxury, but a necessity for delivering superior patient care and staying competitive in the industry.
Our loans can be used for various needs for business development, including equipment. This means that, unlike standard equipment financing, our offerings are tailored to support a wide range of requirements for enhancing your business operations.
Whether you need to invest in new machinery, upgrade technology, or expand your infrastructure, our flexible loan options provide the financial support you need.
Customized Solutions for Doctor’s Businesses
Healthcare providers, including hospitals, clinics, and diagnostic centers, are the backbone of our communities’ well-being. Yet, the cost of acquiring and maintaining advanced medical equipment can pose significant challenges to these essential businesses.
Our financing solutions are designed to alleviate these financial burdens and empower healthcare providers to focus on what truly matters – their patients. Whether you’re a solo practitioner or a large medical institution, our flexible financing options for healthcare equipment loans in Canada can be tailored to suit your unique needs and requirements.
Benefits of Equipment Financing for Doctors and Similar Businesses
The benefits of medical equipment financing extend beyond just acquiring the necessary tools. For small businesses, in particular, where budget constraints are often a significant concern, our financing solutions provide a lifeline. Here are some key advantages:
- Preserve Working Capital: By opting for medical equipment loans, healthcare businesses can conserve their working capital for other essential expenses such as payroll, utilities, and marketing efforts.
- Tax Advantages: Financing medical equipment may offer tax benefits, including deductions for interest payments and depreciation, providing additional savings for the business.
- Stay Ahead of the Competition: Access to advanced medical equipment can enhance the quality of care provided by healthcare professionals, attracting more patients and enabling the business to stay ahead of the competition.
- Flexible Repayment Options: We offer flexible repayment terms tailored to suit the cash flow of the business, ensuring that payments on your healthcare equipment financing remain manageable and sustainable over time.
- Quick Access to Funds: Our streamlined application process and fast approval times mean that healthcare providers can acquire the equipment they need without lengthy delays, enabling them to start using their equipment to benefit their patients sooner.
Ready to take your medical practice to the next level? Apply for a medical equipment loan today with Greenbox Capital and unlock the full potential of your healthcare business. With our hassle-free application process and swift approval turnaround times, you can quickly access the financial resources necessary to invest in state-of-the-art medical equipment, enhance patient care, and elevate the efficiency and effectiveness of your practice.
Case Studies of Doctor Funding and Medical Equipment Loans
| Company Name | Description | Outcome |
|---|---|---|
| Medical Clinic, Toronto | Secured financing to upgrade its MRI machine, allowing it to offer more accurate and timely diagnoses. | Enhanced diagnostic capabilities and improved patient outcomes. |
| Lakeside Medical Center, Vancouver | Utilized equipment financing to purchase state-of-the-art surgical equipment, leading to shorter procedure times and improved patient outcomes. | Increased operational efficiency and reduced wait times for patients. |
| Sunset Dermatology, Calgary | Expanded its practice with financing for advanced laser therapy equipment, enabling it to offer a wider range of treatments and attract new patients seeking specialized dermatological services. | Increased patient satisfaction through expanded treatment options and improved results for various skin conditions. |
Medical Practice Funding Q&A
I am opening a satellite office and need to hire additional staff. What type of medical practice loan is best for me?
There are several funding options that may work for you, including a small business loan, collateral loan, or merchant cash advance. One of our Funding Advisors can assist you in selecting the best solution for your practice.
Can healthcare providers with less-than-perfect credit history still qualify for equipment financing?
As a medical equipment financing company, Greenbox Capital understands the challenges faced by healthcare providers, and we strive to provide financing solutions that are accessible to businesses with varying credit histories.
While credit history is a factor in our evaluation process, we also consider other factors such as business performance and revenue potential.
Are there any restrictions on how the financed equipment can be used?
Financing for medical devices is intended for business use related to healthcare services. However, within that scope, there are typically no restrictions on how the equipment can be utilized.
Whether it’s for patient care, diagnostic procedures, or administrative purposes, as long as it aligns with the operations of your healthcare business, you have the flexibility to use your medical equipment funding.
Can I use medical practice funding to pay off my school loans?
We do not restrict how you use your funds, but we always recommend using alternative loan to grow your practice, such as upgrading equipment, expanding to a new location, or adding new services.
Can equipment financing cover maintenance and servicing costs?
While funding for medical equipment in Canada primarily covers the acquisition or leasing of medical equipment, some financing options may also include provisions for maintenance and servicing costs.
Our financing specialists can work with you to explore options that best suit your needs and include provisions for ongoing maintenance and servicing to ensure the longevity and optimal performance of your equipment.
Where To Get Medical Practice Funding In Canada
Alberta
- Edmonton
- Calgary
- Red Deer
- Lethbridge
British Columbia
- Victoria
- Vancouver
- Abbotsford
- Surrey
- Richmond
Manitoba
- Winnipeg
Northwest Territories
- Yellowknife
Yukon
- Whitehorse
Ontario
- Toronto
- Ottawa
- Mississauga
- Hamilton
- Kingston
- London
- Thunder Bay
- Windsor
- Kitchener
- Brampton
- Markham
- Peterborough
- Cambridge
- Oshawa
- Vaughan
- Caledon
- Halton Hills
- Milton
- Burlington
- Oakville
- Richmond Hill
- Stouffville
- East Gwillimbury
- Georgina
- Uxbridge
- Pickering
- Ajax
- Whitby
- Clarington
- North York
- Etobicoke
- Barrie
- Scarborough
- Innisfil
- Newmarket
- Aurora
Nunavut
- Iqaluit
Nova Scotia
- Halifax
Quebec
- Quebec City
- Montreal
New Brunswick
- Fredericton
- Moncton
Newfoundland and Labrador
- St. John’s
Saskatchewan
- Regina
- Saskatoon
Prince Edward Island
- Charlottetown
