Fueling Success: A Resource for Funding your Practice!
Grants (General):
- Up to $4,000 for NASE members.
- Four winners quarterly, minimum three-month membership required.
Hello Alice’s American Dream Awards:
- Open until April 30, 2024.
- For-profit US small businesses.
- Nominate online to receive application email.
- Grants $500/month along with a business strategy session.
- Includes Freed Studio membership and $2,500 year-end grant.
- Non-selected applicants receive business growth recommendations.
Grants (Women-Owned):
- Funding platform for women-owned businesses.
- Provides access to capital, coaching, and connections.
Cartier Women’s Initiative Regional Awards:
- Fellowship for women-led businesses with positive impact.
- Applications open May 22, 2024.
- Rigorous process, winners receive up to $100,000.
- Micro-fund for women and underrepresented founders.
- Rolling applications, committee meets every 6 months.
- Awards up to $50,000 for pre-seed businesses.
HerSuiteSpot’s HerRise Micro-Grant:
- Monthly grants for businesses 51% owned by women of color.
- Non-profits, franchise, direct seller, authorized reseller, and independent consultants not eligible.
- Grants $25,000 to 25 mom-preneurs.
- Open to CEOs/Owners of small businesses (<$5M revenue, 2-50 employees).
- Pre-register now or apply in March 2024.
Local Resources for Grants:
Chamber of Commerce:
- Supports local businesses with information on available grants.
Small Business Development Center (SBDC):
- Provides services addressing entrepreneurship and business management.
Economic Development Authority (EDA):
- Establishes a sustainable economic environment for the community.
Guidelines for Locating Grants Online:
- Visit a reliable grant website. We suggest starting with one of these:
- Create an account.
- Use the search function to find grants that align with your goals and meet your specific interests.
- Review the grant eligibility criteria to make sure you meet the program requirements.
- Complete the application package.
- Submit the completed application through the grant website portal.
Loans (Healthcare-Specific):
Prosperity Bank Medical Practice Loans
- Medical industry expertise with flexible loan terms.
- Dedicated private banker and support for medical practices, investments, and office buildings.
- Commercial lender focused on healthcare providers.
- Offers 4 loan types with fixed low monthly payments.
- Loans and lines of credit for medical professionals.
- Larger loan amounts and longer terms for established practices.
- Requirements include a minimum credit score of 551+, 30 days open and operating, and $200,000 in annual sales.
Loans (For New Businesses):
- Network of reputable small business funding providers.
- Access funds up to $350,000 in approximately 2 weeks.
- Ideal for new businesses with no strict business history requirement.
- Direct programs and a vetted marketplace network.
- Various funding options, with up to $500,000 available through direct programs.
- Matches with lenders based on needs (no guarantee).
- Over 800 lenders available nationwide.
- Simple online application with low interest rates.
- Loans up to $250,000 for various business expenses.
Loans (For Established Businesses):
- Quick application, fast access, and flexible repayment.
- Revolving line of credit up to $150,000 for working capital.
- On-demand funds with credit lines up to $250,000.
- Options for small to medium businesses looking to expand.
- Experienced in supporting healthcare businesses.
- Personalized approach with a funding advisor.
- Requires at least 1 year in business.
- Quick application process with various funding options.
- Requires a minimum of 3 months in business and $8,000+ monthly revenue.
Important Notice: Collaborating Docs provides administrative and operational facilitation services to support the formation and ongoing management of collaborating physician–APC relationships. Collaborating Docs does not provide legal, medical, or regulatory advice, and nothing in this post should be construed as such. Compliance with applicable state and federal laws — including state-specific collaboration, supervision, and prescriptive authority requirements — is the responsibility of each individual provider and practice. Providers are strongly encouraged to consult qualified legal counsel regarding their specific arrangements and applicable regulatory requirements.