With working capital loans only available to those with a credit score of 700 and above, many physicians and dental professionals are seeking alternative financing. An innovative and increasingly popular way of acquiring working capital is through merchant cash advances. With this type of financing, providers receive an advance on their future credit card receipts from patients. Funding is roughly equivalent to one month’s worth of these receipts and are generally paid off in 6 to 7 months. Small daily payments are made from the provider’s future credit card income automatically.
Minimum monthly credit card receipts are only $5,000 to qualify for this program. Funding can occur in as little as 5 days and it will not effect the credit of the owner since this product is NOT a loan. No personal guarantees are needed and no collateral needs to be provided.
Does this sound like a service that can work for your practice? Click here to apply.

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