At Medical Funding, we make sure our funding application and approval process is as easy and fast as possible. When you need cash for your medical business, we understand that you do not have time to wait around for a response. It takes only minutes to apply for funding and qualify for up to $500,000 in medical funding!
Here is how our funding process works.
Step 1. Apply for Funding
Start by calling us or completing our fast online application. You are invited to apply for medical funding if you have been in business for six months or more and have at least $10,000 in gross monthly revenue.
After receiving your application, it will be matched with one of our dedicated specialists who will get in touch with you same-day to discuss your options and guide you through the rest of the process.
Step 2. Get Qualified
Over 95% of medical business owners who apply will qualify for funding! Your representative will discuss the process with you and an underwriter will create a merchant cash advance plan that is personalized to your business needs.
At this stage, we will require additional information to find out how much you qualify to receive. You will need to provide 3 months of credit card processing statements, when possible, and three months of bank statements.
Step 3. Get Cash
After the funding is approved, typically within one business day, you will receive the cash deposited into your bank account. This cash may be used for anything that relates to your medical business, including purchasing medical equipment and supplies, paying staff, expanding or renovating your business.
Repayment
A merchant cash advance means that we purchase a share of our future revenue. We will take a percentage of your daily revenue until the loan is fully repaid. This repayment will always be proportional to your revenue to avoid placing a hardship on you when business slows.
After 70% of our funding is repaid, you may refinance and receive up to 200% of the original funding amount.
Apply for funding today through Medical Funding and learn more about how we can help!