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Medical Business Loans
Use an SBA loan to greatly expand your medical practice
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Top 5 SBA franchise loan lender*
+$600 million franchise loans funded
+$2 billion in SBA loans since 2020
+2,000 SBA loans funded since 2020
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.
Real business owners. Real results.
Woof Gang Bakery SBA Loan Case Study
After years in HR, Kasia followed her passion for animals and, with a $345K SBA loan from First Bank of the Lake, quickly launched her Woof Gang Bakery & Grooming franchise — already nearing breakeven just months in.
Tint World SBA Loan Case Study
After losing his wife, a friend, and his life savings, Dan Billings reinvented his life with a Tint World franchise — and with guidance and an SBA loan from First Bank of the Lake, his business is thriving and he’s already eyeing a second location.
Lifetime Green Coatings SBA Loan Case Study
Father and son duo Barry and Parker Norfleet launched six Lifetime Green Coatings franchises with a $400K SBA loan from First Bank of the Lake — quickly setting up operations and nearly breaking even within just three months.
What Our Customers Say
Gave Me the Confidence I Needed
Huge thanks to Tammy and Brandi. Tammy was my first point of contact and gave me the confidence I needed since there isn't a local branch near where I live. Brandi has been answering ALL my questions since and has excellent follow up and has taken great care of me.
— Michele Houston
Genuinely Interested in Helping My Business Succeed
First Bank of the Lake was a tremendous help in securing a 504 small business loan for my company. Every staff member I interacted with was professional, friendly, and genuinely interested in helping my business succeed.
— Don Kamb
Exceptional Service
I cannot say enough positive things about my experience working with Eric as my SBA loan officer. From start to finish, he provided exceptional service and went above and beyond to ensure that every issue we encountered was resolved quickly and efficiently.
— Bryan Crowe