FOR CHIROPRACTIC PRACTICES
Chiropractic practices juggle a mix of cash-pay patients, insurance claims and personal injury cases that may not pay until a case settles. Meanwhile, rent, staff and equipment are due on schedule. Clear helps chiropractors and multi-provider wellness practices get working capital from 100+ lenders, with funding in as little as 1 to 2 days, whether you are smoothing cash flow or opening a second office.
I didn’t have an immediate need for funds but wanted to have access to funding in case of an emergency. Clear got me approved for a line of credit and it fit the bill perfectly.
Common uses include covering payroll and rent while insurance and personal injury cases are paid, buying adjustment tables, decompression or X-ray equipment, hiring an associate or massage therapist, adding services, and marketing for new patients. Short term loans and merchant cash advances have no restrictions on the use of funds.
Short term loans and merchant cash advances can fund within 1 to 2 days of approval. You typically need only a completed application and your 3 most recent business bank statements.
A short term loan offers up to $5 million over 6 to 36 months with interest from 11%, and generally needs a 600+ FICO score. A merchant cash advance is our easiest product to get approved for (500+ FICO) and offers up to $2 million over 3 to 24 months, priced with a factor rate from 1.14 instead of an interest rate. A Clear loan advisor can compare offers side by side.
Often, yes. Short term loans and merchant cash advances are based mainly on the revenue and deposits that show in your bank statements, so steady collections from cash-pay and insurance patients help. If you carry significant receivables, an asset-based loan may be able to use them as collateral, though underwriting can take up to 90 days.
Yes. A short term loan can fund a down payment or build-out quickly. For a larger, longer-term purchase, an SBA loan may fit better, and a Clear loan advisor can walk you through the options.
It can be. With 12 months in business, $400,000+ in annual revenue and a 650+ FICO score, a line of credit of up to $250,000 is there for uneven months, and you pay interest only on what you draw.
Often, yes. A merchant cash advance can work with a FICO score of 500 or higher. Short term loans generally need 600+, and lines of credit 650+.
Short term loan payments are weekly or monthly by automatic ACH withdrawal. Merchant cash advance payments are daily (Monday to Friday), weekly or semi-monthly, and are normally tied to a percentage of your sales, so if revenue drops you can usually ask to lower the payment.
Clear is a business loan marketplace with 100+ lenders. One application lets you compare offers, and a dedicated loan advisor helps you choose the terms that fit your practice. See how two chiropractors used SBA loans to expand: one growing practice and one that had outgrown its space, or read about financing for medical and healthcare practices.
