A chiropractic office has quite of bit expenses in the first year of doing business. In some cases based on the length of time the practice has been open more than likely the physician who either owns the practice may be able work with a bank that they've had a relationship with over the years and borrow what is needed to upgrade the medical facility.
In cases where it is a new practice with at least 4 months in business, it is much more difficult to get a substantial loan due to the fact the practice does not have established credit.
Based on the annual expenditure budget of the chiropractic or medical office facility, it may not be possible to purchase all of the items and add new and used equipment that is extremely necessary to give the best in patient care.
The best way for a chiropractor to bring in additional cash flow is to bring in more clients or bring in cash flow by borrowing.
Cash flow is very important when determining how much to spend on office interiors and decor.
When individuals choose a medical facility one of the first things they consider is how comfortable does the facility make them feel during their chiropractic visit.
Many people dislike having to go to the doctor's or dentist office for checkups and for medical care.
The initial environment one takes in when the visit occurs will either put the person at ease or make them feel worse about their situation while waiting to be seen by the chiropractor.
All of the above items are necessary for the practice to succeed. Based on the annual expenditure budget of the medical office or facility it may not be possible to purchase all of the items and add new and used equipment that is extremely necessary to give the best in patient care.
Some alternative funding sources offer chiropractic practice business loans which work with chiropractic practices that have not established credit yet but will work with a medical facility with at least 6 months in business. Small Business Loans Depot goes out of its way to make sure the doctor has the funding they need to take care of the expenses they incur.
Please contact Ed Rogers at Small Business Loans Depot 919-771-4177 and we can discuss how to increase your business cash flow.