Provide: 2023 Medical Practice Financing Company Review
Formerly known as Lendeavor, Provide is a national fintech that financially empowers healthcare providers to achieve their practice ownership dreams through a streamlined, completely online finance experience and personalized customer service. Provide is headquartered in San Francisco, with an office in Columbus, Ohio, and experts nationwide. Provide is a wholly-owned subsidiary of Fifth Third Bank.
Traditionally, there’s been an array of big banks and financial institutions vying for market share in the healthcare lending space.
Now, a new player is looking to redefine what it means to offer modern practice financing.
If you are a healthcare practitioner in need of financing, Provide can help you:
- Start a new practice.
- Expand your current practice.
- Better equip your practice.
- Even purchase another practice.
Founded in 2013, Provide, Inc. is a national fintech company headquartered in San Francisco, California, with an office in Columbus, Ohio, and experts nationwide. Provide financially empowers healthcare providers to achieve their practice ownership dreams through a streamlined, completely online finance experience and personalized customer service. Its integrated suite of financial products makes opening, running, and expanding a healthcare practice easier, giving providers back their time and energy to focus on what matters most: their patients. In August 2021, Provide became a wholly owned subsidiary of Fifth Third Bank, operating as an independent business line. In 2023, Provide was named to Fast Company’s list of the World’s Most Innovative Companies, ranking among the top 10 brands in the finance category.
Provide medical practice financing basics
The company lends to all medical professionals, including dentists, optometrists and veterinarians. Provide is perfect for those looking to start, buy or refinance a new healthcare practice. The process is entirely paperless, making financing your dream practice easy and hassle-free. Better yet, doing so will not affect your credit score.
Provide typically offers loans for one or more of the following purposes:
- Practice startup.
- Practice expansion.
- Practice acquisition.
- Practice equipment financing.
That’s great — but what makes Provide different?
Provide utilizies technology to expedite the entire lending experience, making it incredibly efficient for borrowers. The team has built innovative software that takes complex transactions, such as purchasing your first practice, and makes them as easy as 1-2-3. As a result, you get to spend less effort and time applying for financing. Better yet, this efficiency translates to faster funding and the lowest available rates.
While Provide provides different kinds of loans to different healthcare specialists, dental loans account for the majority its business to-date. The company works with everybody, from brand new startups to well-established dentists. Provide also enables practice owners to finance new medical equipment from approved vendors.
Provide borrower eligibility requirements
Provide is perfect for those looking to start, buy or refinance a new private medical practice. Compared to traditional banks and lending institutions, Provide is more flexible when it comes to the eligibility requirements that prospective borrowers must fulfill. To obtain medical practice financing through Provide, you need to set aside a few minutes of your time to pre-qualify. From there, it is important that you provide accurate, current, and complete information. Of course, you must be at least 18 years and capable of entering into legally binding contracts under applicable law to use their services.
Provide provides financing to bank quality borrowers. Not only are there minimal eligibility requirements to fulfill, but the process is entirely paperless, making financing your dream practice easy and hassle-free. Better yet, doing so will not affect your credit score.
To obtain medical practice financing through Provide, you need to set aside a few minutes of your time to pre-qualify. From there, it is important that you provide accurate, current and complete information. Of course, you must be at least 18 years and capable of entering into legally binding contracts under applicable law to use their services.
Benefits of financing your practice with Provide
There are a number of benefits that you will enjoy when you finance your medical practice with Provide. These include:
- Lightning fast approvals. Prequalify in minutes and get approved for a loan in just a few hours. Just how fast is that, you ask? Five times faster than most big banks.
- Easy application process. Paperless application process makes the application process as smooth as possible. Provide has a user-friendly dashboard that allows you to effortlessly upload your e-documents.
- Great rates. Provide partners with various lenders, thus helping you select the one that offers the financing you need at the best available loan terms and rates.
- Wide range of loan products. Provide’s relationship with Fifth Third Bank allows customers to tap into a wide range of financial products and solutions.
- Practice marketplace. Provide’s online practice marketplace makes it easier than ever for healthcare providers to find their dream practice and for brokers to share their listings. Browse thousands of listings from top brokers across the country today; search by city, county, or state.
- Connection with experts. Whether you are in need of a great attorney, consultant or CPA, Provide’s network will connect you with reputable experts in your field.
- Seamless integration. Provide’s software integrates every party involved in your lending experience directly and seamlessly. This saves you lots of time and effort.
- Security. The company uses bank-level encryption to protect your information and keep it safe.
- Credit record. The loan pre-qualification process does not negatively impact your credit score.
Since its inception in 2013, Provide has gradually become the go-to online platform for healthcare practitioners in search of financing. And rightfully so. Working with a company that can quickly and efficiently get you approved for loans means that you are well-positioned to start, buy or refinance your practice.
In evalutating your practice finance needs, it helps to understand the following about Provide:
- The short, but storied history of Provide.
- What sets Provide apart from traditional lenders.
- Benefits of financing your practice with Provide.