Bank of America (BofA) is known in the banking world for creating solutions for specific job fields, especially healthcare. A good example is Bank of America Practice Solutions – a special loan program that provides funds for starting or purchasing a medical practice. This program accommodates the needs and problems of doctors, dentists, and vets, offering custom solutions to help them reach their business goals.
About Bank of America
Bank of America is one of the largest financial institutions in the U.S., with over $2 trillion in assets. Founded in 1904, it has grown into a global leader in banking, wealth management, and business financing. Its long-standing reputation, A+ BBB rating, and focus on professional lending make it a trusted choice for practice loans.
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Bank of America Practice Loan Options
Medical Practice Loans – Startup, acquisition, or expansion loans for physicians and optometrists
Dental Practice Loans – Funding for equipment purchases, practice relocation, or buying an existing dental office
Veterinary Practice Loans – Specialized loans for veterinarians looking to open or grow their practice
These loans can be used for working capital, real estate, or technology upgrades, with terms tailored to the cash flow of healthcare businesses
Bank of America Practice Solutions Eligibility
To qualify, applicants generally need:
- An eligible professional degree (MD, DO, DDS, DMD, OD, DVM)
- Good personal credit history (strong credit score improves terms)
- A clear business plan or loan purpose
- Association membership details when applicable
Bank of America evaluates credit history, income, years in practice, and requested loan amount before issuing approval.
Benefits of Bank of America Practice Solutions
Competitive Interest Rates & Terms
Flexible repayment options help align loan costs with practice revenue.
Tailored Solutions for Healthcare
Financing is structured around the unique challenges of medical, dental, and veterinary practices.
Dedicated Financial Advisors
Borrowers work with specialists who understand healthcare practices and can guide decisions beyond lending.
Trusted National Bank
With a strong history and nationwide reach, Bank of America offers stability and resources smaller lenders may not provide.
Key Takeaways
Bank of America Practice Solutions is a well-established financing program that helps healthcare professionals start, buy, or expand their practices. With competitive interest rates, flexible repayment terms, and dedicated financial advisors, it provides more than just capital it offers long-term financial guidance tailored to medical, dental, and veterinary businesses. Eligibility depends on professional credentials, credit history, and a clear repayment plan, but the program’s transparency makes it accessible to many providers. For doctors seeking reliable practice financing backed by one of the nation’s largest banks, Bank of America remains a strong choice in 2025.
Ready to get started? Run a practice loan rate comparison right here at LeverageRx.
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