panetrain

Full Member
10+ Year Member
Aug 5, 2008
327
9
Midwest
Status (Visible)
  1. Attending Physician
I'm looking to amass capital for an awesome investment opportunity. I need roughly 1 million$ to purchase a medical business. Does anyone have any contacts with lenders who have worked with physicians to obtain capital for such business opportunities?
 
Last edited:

nontrdgsbuiucmd

Full Member
10+ Year Member
Mar 28, 2008
998
3
my own little world
Status (Visible)
  1. Medical Student
I did a google search on "lending medical practice" and found 557,000 hits.

Had luck when I borrowed around $200K for my small business. I was able to do it based on my current client base as I could prove recurring monthly income for the past 1-2 years at the time of the loan. Found a specialized lender that loaned to my type of business, interest rate was around 13% as a business loan collateralized by business assets. The lender was very good about telling me exactly which documents were required.

Typically for a small business loan, the lender will require the principals to sign the loan docs in a personal capacity in order for the lender to loan the funds, i.e. don't pay and your house/personal assets can be pursued. For my loan, there was a UCC doc that formalized the lien against my business that this lender had; this is typical for a commercial loan.

I presume you have financials in place; income statement, balance sheet, & pro-forma that can be audited showing income & expenses to prove you can pay back the loan? If not I'd start getting those in place; the accountant should be able to provide historical documents and should be willing (for a fee) to provide some pro-forma type forms or possibly a completed pro-forma. The accountant may not do a pro-forma as this is essentially an income and expense projection for several years; they may feel that providing this implies that they believe your company will earn that amount of profit.

Word of experience as I have gone through this..regardless of how incredible you may feel that this investment opportunity is, the majority of investors will disagree; it is very difficult to raise funds. Possible, but it takes a lot of "no's" before you get to a "yes".
 
About the Ads
This thread is more than 12 years old.

Your message may be considered spam for the following reasons:

  1. Your new thread title is very short, and likely is unhelpful.
  2. Your reply is very short and likely does not add anything to the thread.
  3. Your reply is very long and likely does not add anything to the thread.
  4. It is very likely that it does not need any further discussion and thus bumping it serves no purpose.
  5. Your message is mostly quotes or spoilers.
  6. Your reply has occurred very quickly after a previous reply and likely does not add anything to the thread.
  7. This thread is locked.