Business Loans For Today's Medical Professionals
Colonial's Medical Professional Loan Program offers two flexible options:
- Traditional Loan: Borrow between $50,000 and $2,500,000 with 5- and 10-year term options.
- Line of Credit: Access between $50,000 and $1,000,000, drawing funds as needed.
These funds can be used for a variety of purposes, including:
- Open a private practice or expand to a second location
- Remodel your current space
- Purchase new equipment or technology
- Bridge gaps in cash flow
- And more
TERM LOANS |
STRUCTURE |
| Minimum Amount | $50,000 |
| Maximum Amount | $2,500,000 |
| Interest Rate Option 1 | WSJ Prime minus 0.26% fixed at closing |
| Interest Rate Option 2 | WSJ Prime plus 0.25% fixed at closing |
| Amortization & Maturity for Rate Option 1 | Fully amortizing up to 5 years |
| Amortization & Maturity for Rate Option 2 | Fully amortizing up to 10 years |
| Collateral | Assignment of Life Insurance Policy and other collateral as appropriate |
LINE OF CREDIT |
STRUCTURE |
| Minimum Amount | $50,000 |
| Maximum Amount | $1,000,000 |
| Interest Rate | WSJ Floating |
| Amortization/Payments/Maturity | Interest Only Monthly/Two Year Maturity |
| Collateral | Assignment of Life Insurance Policy |
You can apply online, or reach out to one of our Commercial Banking experts who will be happy to answer any questions you might have.
