Great Tips to Finding the Best Medical Practice Financing
(Newswire.net — February 10, 2016) San Diego, CA — Medical practice owners often ask, “How do I go about finding the right source of financing to grow my business,” says Ken Mayer, who brings expertise that spans 25+ years of experience in successful financing strategies.
“Finding the right finance source can feel overwhelming,” Mayer states, but “The good news is that it doesn’t have to be difficult if you know what questions to ask.”
Medical practices often require financing to acquire new equipment and technology. Whether a plastic surgery practice, ophthalmic practice, weight loss center, med or day spa, dental office, or dermatologist, new advances and ever-changing competition require up-to-date innovation, which costs money and translates to the need for medical equipment financing. These and other medical practices and specialties often experience slow collection cycles waiting for insurance and government reimbursement, which produces the need for working capital or accounts receivable financing.
“There are so many new forms of financing available, yet there is also a lot of confusion in the marketplace about how to quickly find a legitimate financing source who is not going to charge upfront fees, and who will be fair and knowledgeable, with reasonable rates,” says Mayer, who hosted a popular San Diego radio show on personal finance.
Mayer gave these three tips in a recent interview, to those who want to find a great medical practice financing source they can count on.
TIP # 1 – Can they give me the money I need in as little as 3 to 5 days? Most financing sources have too much red tape, and take too long to let you know where you stand.
TIP #2 – Find out what their area of expertise really is. Can they do working capital loans as well as equipment financing and leasing? How about using your accounts receivables to produce constant cash flow, that includes collection? Can they work with credit ratings of A through D? Can they get you your money in 3 to 5 days, for any business purpose, wired directly into your business account? Why waste precious time, when using simple steps to find the right source for your situation results in money available to you right now.
TIP #3 – Are They Easy to Work With? Is this someone you will feel comfortable working with? You’ll feel much better about your decision if you can find a professional who is understanding and approachable.
Mayer recommends that medical practice owners look for a lender who provides loans that use simple interest, and never contain a prepayment penalty. Also, ideally, the lender should be able to make a decision quickly, using just a simple application form and some basic support documents. “I have access to over 90 lenders who can get the funding done,” he stated.
Nearly every business, whether small or large, has a need for extra working capital at one time or another. Mayer states he is willing to consult with any medical practice owner seeking financing, without charge, and will take care of locating suitable lenders whose programs are compatible with the business’s needs and the credit worthiness of the applicant. These include short-term loans that can be paid off quickly, to fully amortized loans up to 60 months. Medical practices often find that short-term financing is a great way to fund business expansion, seasonal slow periods, and just about any financing need, while maintaining emergency liquidity.
Medical practice owners can easily obtain further information about financing in any niche. Mr. Mayer is happy to provide a knowledgeable, no cost consultation and quickly have lenders funding your specific needs!
About Ken Mayer
Over 25 years experience in business financing. Schedule an appointment online here to discuss your medical financing needs or call 858-484-7777.
**MediPro does not endorse any particular financing entity. We recommend looking for a company that specializes in Healthcare Financing.