According to the Annals of Internal Medicine, chiropractic medicine is the most commonly used and largest provider group within the realm of complementary alternative medicine. With alternative medicine becoming more mainstream, there is no better time to be a chiropractor. If you are looking for capital for your practice, here is why a chiropractic business loan might be best for you.
Working Capital for Chiropractors
For any chiropractic practice, it can be difficult to bridge the gap between the time when the insurance companies reimburse you and the time when bills, salaries and rent are due. Incidentals also crop up, for which you need extra cash on hand. Having sufficient cash flow enables you to keep up with your operating expenses without putting pressure on your business. That’s crucial. Avoid daily pay products and cents-on-the-dollar payment contracts. In addition, if you are looking to make investments in your business, such as deploying a marketing campaign, Fundation’s working capital loan product can help manage your day-to-day operating expenses while still investing in the long-term growth of your company.
Chiropractic Equipment Financing
As the economy recovers from the recent downturn, people are looking for cost-effective options in health care. Chiropractic care can be an attractive, more affordable option, versus traditional medical care. A study from the Journal of Manipulative and Physiological Therapeutics found that care for patients with lower back pain cost 40 percent less with a doctor of chiropractic than with a medical doctor. Not only is the cost of an office visit to a chiropractor lower for patients and insurance companies; chiropractors can also offer similar services, leaving out expensive prescriptions. Chiropractic equipment financing can allow you to rent or purchase x-ray equipment, chiropractic tables, and computer equipment and business software to make your practice a competitive choice in the marketplace.
Chiropractic Practice Expansions and Remodeling
Take advantage of the demand for your services and expand your practice, or partner with hospitals and other caregiving institutions. A business expansion loan from Fundation can help you renovate your existing offices to create a spa-like experience for your patients. Add additional rooms and hire a masseuse, physiotherapist, acupuncturist or nutritionist to make your practice a one-stop shop for all alternative medical needs. Groups like the American Chiropractic Association offer memberships and resources that can guide you to success with your practice.
If you decide that a small business loan is what you need for your chiropractic practice, Fundation is happy to help you get the financing you need to improve your business. Contact us for more information about your funding options and apply for your small business loan today!
The information contained on this page is for general informational purposes only. It is not legal advice and should not be relied upon in making borrowing decisions. Fundation loans are subject to lender approval.
Fundation combines the benefits of a bank loan with the ease and efficiency of an online lender. We offer conventional loans with competitive rates to businesses with varying credit profiles. Our technology allows us to deliver capital in as few as 3 business days through streamlining the collection and evaluation of customer information and conducting the majority of the lending process electronically. As a direct lender, we use our own capital to originate and hold the loans we make, so that we can focus on building relationships with our customers. Our dedicated customer relationship model enables us to understand each unique borrower’s business. This level of service, coupled with our best-in-class products, is why many of our customers come back to us repeatedly for more capital.