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Bankers Healthcare Group business loans review

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Flexible financing for licensed professionals — but watch out for prepayment penalties.’s rating: 4.35 / 5.0


  • Best for healthcare professionals and startups.
  • Pick something else if you need to borrow a large loan to fund your business.


Min. Amount


Max. Amount


Product NameBHG business loans
Min. Amount$20,000
Max. Amount$500,000
Loan Term1 to 10 years
Min. Credit Score660
APRStarting at 6.99%
Requirements660+ credit score, no bankruptcies in the past year, licensed professional
Check eligibility

Expert review

Anna Serio

Review by

Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 950 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.

Expert review

Bankers Healthcare Group provides business loans tailored to licensed professionals in the healthcare industry. It’s flexible for a business lender — there are no hard revenue and time-in-business requirements — and a representative walks each applicant through the process and offers a personalized product based on your needs.

However, it’s not ideal if you need money right away or don’t have much time to spend on the application. While BHG isn’t the slowest lender out there, it may take four business days to receive your funds. And for businesses and professionals outside the healthcare industry, funding may be limited.

To see what else your practice could qualify for, compare more business loan options.

How much will this loan cost me?

BHG offers unsecured loans of $20,000 and $500,000. Its rates start at 6.99%, and terms range from 1 year to 10 years.

There’s no fee to apply, but you have to pay a closing fee of 1% to 3% of the loan amount, usually rolled into the loan balance. Some loans may also have a prepayment penalty.

You can estimate your business’s monthly payment using the calculator below.

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How it works

BHG doesn’t provide exact numbers on how it determines your rate. But like all lenders, it will likely depend on your time in business, revenue and current debt. Because BHG factors your personal information into its decision, your income and credit score may also play a role in the APR you’re offered. The better your business and personal finances, the more likely you are to score a low rate and qualify for a larger laon amount.

What do I need to qualify?

There are only a few hard requirements to get most BHG business loans:

  • Minimum credit score of 660
  • No bankruptcies in the past year
  • Licensed professional

While BHG considers factors such as your business revenue and time in business when reviewing your application, there are no hard minimums. And you don’t necessarily have to be the owner of a physical practice to qualify — just a licensed professional.

What information do I need to apply?

When you fill out its online application, be prepared to submit the following details:

  • Annual personal income
  • Professional medical title, specialty and licensed state
  • Social Security number
  • Date of birth
  • Business structure, sales and your ownership percentage

Once you submit your application, you may also have to supply proof of income, a copy of your government-issued photo ID and a completed IRS Form 8821, which gives it permission to verify your business’s last two years of tax returns.

What industries does BHG work with?

While BHG places a large focus on businesses in the healthcare industry, it recently launched a division called Pro Funding that offers financing to other industries that require a professional license. These include law firms, CPAs, engineering firms and architecture firms — among others.

What other types of financing does BHG offer?

BHG also offers three business credit card options for its customers. APR ranges from 10.99% to 20.99%.

It also offers three additional loan options for healthcare professionals:

Startup loans

$20,000 to $200,000

Up to 10 years

SBA loans

Up to $5 million

Up to 25 years

Personal loans

Up to $200,000

Up to 7 years

BHG Patient Lending

BHG Patient Lending allows you to offer financing for your patients. All credit scores are accepted, and your patient will have the ability to choose their monthly payment amount and due date. However, BHG doesn’t provide a list of rates and fees your patients will pay.

To get started, reach out to a BHG representative to see if your business might benefit from its Patient Lending program.


  • Business or practice ownership not required
  • No hard annual revenue or time-in-business criteria
  • Multiple loans OK


  • Approval may take up to four days
  • Some loans have prepayment penalties
  • Not reported to any credit bureaus

See other top business loan options

Data indicated here is updated regularly

Name Product Filter Values Loan amount APR Requirements
First Down Funding business loans
$5,000 – $300,000
Fee Based
At least 1 year in business, an annual revenue of $100,000+, and a minimum credit score of 400
Alternative financing up to $300K with highly competitive rates.
Lendio business loans
$500 – $5,000,000
Starting at 6%
Operate business in US or Canada, have a business bank account, 560+ personal credit score
Submit one simple application to potentially get offers from a network of over 300 legit business lenders.
ROK Financial business loans
$10,000 – $5,000,000
Eligibility criteria 3+ months in business, $15,000+ in monthly gross sales or $180,000+ in annual sales
A connection service for all types of businesses — even startups.
OnDeck small business loans
$5,000 – $250,000
As low as 9.99%
600+ personal credit score, 1 year in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
Rapid Finance small business loans
$5,000 – $1,000,000
Fee based
Steady flow of credit card sales, bad credit OK

Compare up to 4 providers

Is BHG legit?

Yes, Bankers Healthcare Group is a legit lender. Its website and application are both encrypted to keep your information safe, and it offers a variety of tools and information to help you make a good decision for your finances. It has a clear privacy policy that describes how it collects and uses your information. And its FAQ provides additional information about its services and how your loan will work.

Does BHG get good customer reviews?

BBB accredited Yes
BBB rating A+
BBB customer reviews 4.7 out of 5 stars, based on 267 customer reviews
Trustpilot Score 4.6 out of 5 stars, based on 1,013 customer reviews
Customer reviews verified as of 16 June 2020

Bankers Healthcare Group gets mostly positive online reviews, though a few customers share negative experiences. Many are pleased with the professionalism of the BHG team and speed of the process. However, several customers complained about high interest rates and prepayment penalties. Noncustomers have also submitted complaints to the BBB about a high volume of marketing material, while other types of complaints have their details hidden.

How do I apply?

BHG accepts applications over the phone and online. To get started, follow these steps:

  1. Click the Check eligibility button on this page to be redirected to the BHG website.
  2. Enter the amount you want financed and the general purpose of your loan.
  3. Enter information about yourself, including your annual income, date of birth and Social Security number.
  4. Select your medical title, specialty and the state you’re licensed to practice in.
  5. If you are a business owner, select Yes and enter details about your business, including your sales and business structure.
  6. Review BHG’s terms and conditions, then click Get started.

What happens after I apply?

You should receive a call from a loan specialist to discuss your options and walk you through the application. Once you submit the application and required documents, you’ll receive a decision in as little as 24 hours. After you sign the documents, it may take three or more days to receive your loan funds.

How do repayments work with BHG?

All BHG loans have monthly repayments, and you can pick your due date to work around your business’s cash flow. Borrowers can opt to sign up for automatic repayments so they don’t have to take the time to log a repayment — but unlike some lenders, there’s no automatic payment discount applied to your APR.

Even if you sign up for automatic repayments, keep tabs on your balance and bank account. Contact customer service if you have any questions or concerns about your loan.

BHG could be the right choice for medical professionals. But before you apply, compare it to other loans for healthcare professionals so you can make an informed decision for your business.

Frequently asked questions

Business loan ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate business loan providers on a scale of 1 to 5 stars based on factors like transparency, costs and customer experience. We don’t take into account elements like eligibility criteria, state availability or payment frequency — we save that for our reviews.

Read the full methodology of how we rate business loan providers to get a better picture of what goes into each star rating.

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