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.
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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.

Medical Practice Funding Rates

Medical practice funding rates depend on the type of alternative small business funding you receive. Most alternative doctor practice funding options use a factor rate instead of a traditional interest rate. Factor rates are simple decimal figures that show how much “extra” you will owe on the original amount of the loan and are determined based on your risk assessment.

Medical Practice Funding Solutions in Canada

Our friendly, expert Funding Advisors will work with you to determine which funding option will help you achieve your goals without compromising your practice’s cash flow.

Merchant Cash Advance

You get working capital when you need it. We’ll receive a percentage of your daily or weekly credit card sales until the advance is repaid.

Invoice Factoring

Sell us your pending invoices in exchange for the net amount in cash. You’ll receive the balance of the invoices’ value when we receive payment (minus our fee).

Collateral Loan

A secured loan that uses commercial real estate to reduce risk. Because the loan is secured, you may be approved for larger loan amounts with lower rates and fees.

Business Line of Credit

Borrow as much or as little as you need without the obligation of a fixed term loan. Draw and repay as you go, and only ever pay interest on the amount you've borrowed.

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

  • 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.

  • 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.

  • 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.

  • 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

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 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.

Medical Practice Funding Guides

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