Loan Program for Independent Medical Practices Coming to Michigan

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Practice Pathways, a program through Zions Bancorporation, Monday announced it has expanded to 33 states, including Michigan. It offers lending solutions for entrepreneurial dentists, veterinarians, optometrists, physicians, and pharmacists.

“Medical professionals excel in their respective fields of medicine and patient care, but sometimes lack the business background to start or acquire a practice,” says David Kirby, senior vice president and director of Practice Pathways. “We want to get their entrepreneurial dreams off the ground with our financial expertise to help them successfully transition into business owners.”

Retiring medical professionals outnumber graduates entering the industry. The number of Baby Boomer professionals expected to retire is projected to remain high over the next several years, creating opportunities for graduates to acquire a retiree’s private practice.

Through Practice Pathways, a designated relationship manager is the sole point of contact and provides specialized expertise on services including practice acquisition loans; debt consolidation and refinancing; real estate, multi-practice and equipment financing; startup, improvement, expansion, or relocation; U.S. Small Business Administration financial solutions; and working capital loans and lines of credit.

Most applications to the program receive a response within 24 business hours. Competitive fixed-rate and variable-rate options with terms up to 15 years are available to maximize cash flow. Practice Pathways also offers access to a demographic analysis to ensure the practice is in an ideal location.

More information is available here or by calling (888) 588-6265.

Zions Bancorporation has total assets exceeding $65 billion.

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