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Types of Chiropractic Business Loans
Why National Funding?
Providing chiropractic services to your patients helps keep them healthy and can make them feel better. In order to keep providing the best quality of care to your patients, you need working capital to cover all of your costs. From license fees and continuing education costs to new chiropractic technology equipment, your chiropractic office’s needs are unique from other industries. At National Funding, we provide business loans as a way to finance chiropractor office needs. Our expert Loan Specialists take the time to have a conversation about your practice and its unique needs. Unlike many traditional lenders, we provide a simple online loan application for your chiropractic practice loan.
Chiropractic Business Resources
As a chiropractor, you have years of schooling and training under your belt to make sure you’re able to help patients. Running a small chiropractic office may not require business training, but it’s still a good idea to learn how to run your chiropractic business efficiently and effectively. We’ve provided some resources for chiropractors to help you plan for business growth and navigate difficult business questions about taxes, financing and more.
The chiropractic industry is booming, but for many chiropractic offices, cash flow is one of the biggest concerns. By properly managing the finances for your practice, you can use available cash to focus on growth. Take a look at this post for important tips to managing your chiropractic business finances.
You strive to help your chiropractic patients feel better and experience fewer aches and pains. But what about you? Have you ever wondered how you can help as many patients as possible, run your business successfully and enjoy time with family and friends? Read this blog post to learn more about enjoying work-life balance as a small business owner.
As your chiropractic business grows, you may have to hire more employees. To get the best available team, you might consider offering a retirement plan for employees and yourself. Check out this post to learn about the potential tax savings and benefits, as well as the downsides, to offering a retirement plan for employees.
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True to our mission, we encourage you to read the following policies and learn how they affect you as a client.
(1) 24 hours:
Fast approvals and 24 hour funding subject to receipt of required documentation, underwriting guidelines, and processing time by your bank. Funds are deposited into your business checking account as soon as the next business day after approval and acceptance of terms.
(2) Early payoff discounts:
National Funding offers special opportunities for its customers to terminate contracts early and receive a discount in the process. Equipment Finance customers who pay off the total remaining balance early, at any point during the contract, will automatically receive a 6% discount off the total remaining balance. Working Capital customers who pay off the total remaining balance in full within the first 100 days of the contract will automatically receive a 7% discount off the total remaining balance. We do not currently offer a discount on our lease contracts. Customers must pay off the balance in full, be current, and in good standing to take advantage of the discount within the time parameters.
(3) Automatic payments:
Loan payments are withdrawn via Automatic Clearing House (ACH) Monday through Friday excluding bank holidays.
(4) Wide variety of payment options:
- Equipment Financing: payments are remitted monthly with terms of 2-5 years
- Working Capital Loan: payments can be remitted daily or weekly with terms of 4 months up to 24 months
(5) Potential Tax Savings:
The Section 179 Tax Deduction allows businesses to deduct the full purchase price of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy (or lease) a piece of qualifying equipment, you can deduct 100% of the purchase price from your gross income. You can secure the equipment, tools, and technology you need, while also taking advantage of significant tax deductions - up to $1,000,000. Consult your tax professional for more details.
(6) Guaranteed lowest payment:
Pursuant to the terms and conditions specified in these Rules and Restrictions of the Guaranteed Lowest Payment, National Funding guarantees to provide the lowest payment on equipment leased through National Funding, for lease terms from 24 to 60 months, or to pay $1000 towards qualifying executed leases. Lease payment comparisons must be based on a lease in excess of $10,000, for approved equipment, and with the same terms and conditions as those offered by National Funding within seven days that the National Funding terms are issued. To be eligible, customers must provide a competitive lease quote without contingencies, and vendor invoice, and in the name of the lessee within seven calendar days of the date National Funding issues its terms. Guarantee only valid on competitive equipment leases. Equipment finance agreements do not qualify.
In the event that the monthly lease payment amount from the competing lease company or bank is lower than the monthly payment that is being offered by National Funding for the same equipment and pursuant to the same terms, National Funding will verify the validity and accuracy of the competing leasing company’s or bank’s payment options, terms and the vendor quote. National Funding has the option, in its sole discretion, to either beat the competing leasing company’s or bank’s monthly payment rate, or pay $1000 to the lessee. The lessee must provide National Funding with the competing company’s or bank’s signed lease agreement with payment terms/options, and take delivery of the equipment. Payments will be made within 30 days, and lessee is responsible for any taxes.
The Guaranteed Lowest Payment is available to both new and established customers of National Funding. This offer is valid for new lease applications only. The Guaranteed Lowest Payment is not retroactive — a previously funded equipment lease with National Funding is not eligible for the Guaranteed Lowest Payment. Only non-contingent offers of lease terms and payment are eligible. Offers made to lessee that include subsidization by manufacturers and/or vendors will not be considered in comparing competing offers.
The Guaranteed Lowest Payment may be discontinued at any time without notice.
To participate in the Guaranteed Lowest Payment program, if you have a lease agreement and vendor quote which you believe will qualify for the program, contact your National Funding Lease Manager.
(7) Terms and Conditions apply:
This is not a guaranteed offer of credit. Loans subject to lender approval. Approval amount is based on eligibility determined by information obtained from Dun & Bradstreet. Actual eligibility may vary. Restrictions may apply. Application is subject to approval by the lender and is based on factors such as business type, time in business, annual sales, average bank balances, personal credit and other variables deemed relevant by the lender.