If you run a chiropractic or physical therapy practice, you share many of the same financial challenges as other healthcare providers. Insurance reimbursements are slow. Overhead is high. And the equipment and space needed to provide quality care requires ongoing investment.

What many chiropractic and PT practice owners don’t realize is that they’re among the strongest candidates for SBA-backed working capital. Healthcare practices have some of the highest SBA approval rates of any industry, and the terms available are significantly better than most alternative financing options.

Why chiropractic and PT practices qualify well

SBA lenders evaluate businesses on predictability, stability, and the owner’s creditworthiness. Chiropractic and PT practices score well on all three. Patient demand for these services is consistent and growing. Practices with established patient bases have predictable revenue streams. And practice owners in these fields typically have strong personal credit profiles.

If your practice has been operating for at least two years, generates $100,000 or more in annual revenue, and you have a credit score above 650, there’s a strong probability you’d qualify for SBA working capital.

Common uses for chiropractic and PT practice working capital

Practice owners in these fields typically use working capital for purchasing or upgrading treatment tables, rehab equipment, and therapy devices, hiring additional providers to expand capacity, renovating treatment rooms or expanding the practice footprint, bridging the gap between insurance billing and reimbursement, and investing in marketing to grow the patient base.

The flexibility of SBA working capital means you don’t have to choose between upgrading equipment and hiring staff. You can address multiple needs with a single financing solution.

The numbers that matter

SBA-backed working capital for healthcare practices typically offers loan amounts from $50,000 to $350,000 for standard working capital needs (larger amounts available for expansion and real estate), repayment terms up to 10 years, interest rates regulated by the SBA and tied to the prime rate, and no prepayment penalties on most programs.

Compare that to a typical business line of credit at 15 to 24% interest with a 2 to 3 year term, or a merchant cash advance at effective rates of 40% or higher, and the value proposition is clear.

Getting started is simple

Pre-qualification for SBA working capital typically takes about 10 minutes and doesn’t require a hard credit pull. You’ll answer some basic questions about your practice, and you’ll know quickly whether you’re likely to qualify and at what terms.

There’s no obligation and no risk to exploring your options. If you’ve been putting off investments in your practice because of cash flow concerns, it’s worth 10 minutes to see what’s available.

SwellFi works with chiropractic, physical therapy, dental, and veterinary practice owners to access SBA-backed working capital. Contact Tom Corona at 561.445.8164 or tom@swellfi.com.