Industry
Medical Business Loans
Use an SBA loan to greatly expand your medical practice
Home » Industries »
Medical companies are facing new challenges from both a care and financial standpoint
Equipment and technology is a requirement for modern medical office but can be expensive and require frequent upgrades. Nursing and medical personnel shortages can lead to staff issues and increased salary demands. Advances like telemedicine, diagnostic tools, genomics, AI and wearable technology have continued to add value for patients, but have can have new costs associated with them.
Third party reimbursements and the move to electronic health records can also be challenging. With so much demand and fewer doctors, there is considerable potential for business growth. Like many other businesses, funding and working capital are needed to finance the growth.
Demand for medical services keeps rising dramatically and there are opportunities like never before
Much higher demand for medical services should lift revenue for thousands of medical practices. Recent research has shown that:
- Baby Boomers are aging and living longer necessitating much more medical care.
- Medical demand has risen significantly post-pandemic.
- Over the next 30 years, the number of people with heart disease alone is expected to double.
Access to capital can be the biggest impediment to medical company growth. A great way to help finance your growth is via intelligent financing options, like an SBA 7a loan or SBA 504 loan. U.S. government-backed SBA loans can be used to buy medical equipment, buy out a partner, expand to new locations, refinance company debt, or expand your marketing and sales efforts.
An SBA 7a medical loan offers flexible options including working capital for improvements, while the 504 loan focuses on long-term assets like real estate or large pieces of equipment. Over the last five years, First Bank of the Lake has provided over $1B in small business loans. Our team knows the medical practice financing and can help create loan solutions to help you manage costs, hire staff, and keep your clinic on track for long-term growth and success.
The Numbers
in Loans 2024
Largest SBA Lender^
Small Businesses Helped 2020-2024
It's Easy to Get Started
Contact Us
What Type of Loan?
Find out more about the SBA loan application process from our advisors determining what type of loan you need.
Assemble Your Documents
Put together an SBA loan application with the supporting documents.
Submit Your Application
Submit your SBA loan application.
The First Bank of the Lake rep and I bonded over faith, fishing and finance. They got my loan done in under 30 days in very, very trying circumstances.
Issac Reed
President, Reed’s Moving Services
If we ever need business capital, my first call would be to First Bank of the Lake. Why would I look elsewhere?
Barry Norfleet
Co-founder, Lifetime Green Coatings - Kentucky
I got my $345,000 SBA loan approved from First Bank of the Lake in 35 days!
Kasia Anderson
President, Woof Gang Bakery - Bradenton, FL
First Bank of the Lake was the best banking experience I have ever had.
Andy
Co-founder, President, Winter Park Ski Rental
The bank process was as easy it could be. The biggest thing is how transparent and reliable they were.
Tyler Green
Co-founder, President, Freelite AZ
My First Bank of the Lake rep was great – Easily the finest banker I have dealt with in my life.
Dan Billings
President, Tint World - San Antonio
Big thanks to Emil and the First Bank of the Lake team. I would recommend them to anyone else in a heartbeat and I would absolutely use them again.
Rock Katic
President, Perfect Moving
SBA Industry Loans
Talk to an SBA Medical Business Loan Expert Today
We made $600MM in SBA loans in the last year alone
