Unsecured business loan · Medical practices
Unsecured business loan for medical practices
Medical practice finance is lending for GP and specialist practices, covering diagnostic equipment, consulting-room fit-outs, practice purchases and the commercial premises a practice trades from.
How a unsecured business loan works for medical practices
An unsecured facility is the fast option for the smaller things: a locum bridge, a software migration, a hiring push, or an unexpected compliance cost. Approval can come the same week with light documentation, which suits a practice that does not want to disturb an existing property facility for $80,000. It is more expensive than secured lending, so it belongs on short-term needs. For anything with a long life — equipment, fit-out, property — the secured products above will cost you materially less.
The cash-flow pattern we plan around
Steady weekly Medicare and patient billings on a short settlement cycle, punctuated by large one-off capital events such as fit-outs, equipment or a practice purchase.
What medical practices typically fund
- Diagnostic and imaging equipment
- Consulting-room fit-out and expansion
- Buying into or acquiring a practice
- Purchasing the practice premises
- Practice management software and IT
Unsecured business loan for medical practices: the numbers
| Typical amounts | $5,000 – $500,000 |
|---|---|
| Term | 3–36 months |
| Indicative rates | 9.9% – 29.5% p.a. |
| Repayments | Daily, weekly or monthly |
| Speed | 24–72 hours after documents are received |
| Documents medical practices usually need | ABN, AHPRA registration and practice structure details · Two years of practice financials or personal tax returns · Equipment quote, contract of sale or fit-out schedule |
Rates shown are indicative ranges observed across our lender panel for the period stated. They are not an offer or quote. Your rate depends on your business, the lender, the amount, the term and the security offered. The lender makes the final credit decision.
Key terms
Medical equipment finance
Medical equipment finance is secured lending for clinical equipment such as ultrasound machines, imaging systems and examination fit-outs, generally offered to registered practitioners on longer terms and lighter documentation than standard commercial equipment finance.
Practice purchase finance
Practice purchase finance is lending used to buy an existing medical practice or a partnership share in one, assessed on the practice’s billings and the incoming practitioner’s registration and earning history.
What is an unsecured business loan?
An unsecured business loan is finance provided to a business without a specific asset held as security. Approval is based on trading history, bank statements and cash flow. Most lenders still require a personal or director’s guarantee.
How is an unsecured business loan repaid?
Repayments are usually daily, weekly or monthly direct debits over 3 to 36 months. Some lenders quote a factor rate (total payable ÷ amount borrowed) rather than an annual interest rate, so always compare the total cost.
Who is eligible for an unsecured business loan in Australia?
Typical minimums are an active ABN, 6 to 12 months of trading and monthly turnover above roughly $10,000, but each lender sets its own criteria. Lyft Money checks fit across the panel before anything is submitted.