Pharmacy & Healthcare Practice Loans
Like most sectors of the financial world, independent pharmacy owners and healthcare professionals face increased business debt. A physician, veterinarian, dentist, or pharmacist, or may face a variety of long and short term loans that must be paid every month—often with very high interest rates. Since constant borrowing isn’t the best option, how can independent pharmacists and healthcare professionals decrease their debt and experience an immediate increase in monthly cash flow?
Specialized Loans offer Competitive Terms
Perhaps you took out a personal or small business loan when you first opened your business. This got your business started, but was it really the best option? Many of today’s independent pharmacy and practice loans are offered at highly competitive interest rates and attractive terms, allowing you to reduce your monthly outlay and increase your cash flow each month. Even a decrease of 50 basis points on your rate or an extension on your loan term can translate to thousands of dollars saved each month, which can help your practice and pharmacy grow. Further, for experienced healthcare professionals, with a strong credit history, business or practice equity, and with possibly other collateral available, may actually give you the ability to secure a far lower interest rate than one who is just starting out.
Consolidating Loans and Simplifying Your Accounting
Managing multiple short and long term loans can be a challenge for the best CPA’s and book keepers—for a busy pharmacist or healthcare professional, it can be very time consuming. By using the equity in your pharmacy or healthcare practice, you can consolidate all of your loans, simplify all of your accounting, transition to one simple monthly payment, and possibly increase your cash flow all at the same time! This will reduce your time spent on business accounting, and allow you to focus on what you do best!
Flexible and Attractive Repayment Options
Pharmacy and healthcare practice loans offer the most flexible options and greatest amount of control for your business debt management and repayment. For example, you’ll experience better control of the amount of money that will be directed to your interest and principal amounts, allowing you to save money over the entire course of the loan. And if your pharmacy or practice suddenly starts taking off and bringing in increased cash flow, with many options and types of different loans available, you may opt to pay-off early! With many of our pharmacy, veterinary, dental, and healthcare practice loans, there are a variety of options. You may be able to take advantage by having a lower monthly payment, longer term, and no prepayment penalty all at the same time! No matter what your business and financing needs are, a complete refinance and debt consolidation can be a strong option to reduce debt while increasing your cash flow!
