Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Bankers Healthcare Group business loans review

Last updated:  

Flexible financing up to $500,000 for licensed professionals.’s rating: 4.35 / 5.0


Bankers Healthcare Group (BHG) offers unsecured financing to businesses that require a professional license — with a heavy focus on companies in the healthcare industry.


Min. Amount


Max. Amount


Product NameBHG Business Loans
Min. Amount$20,000
Max. Amount$500,000
Loan Term1 to 10 years
Requirements660+ credit score, no bankruptcies in the past year, licensed professional
Check eligibility

First, do I 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 the business to qualify — just a licensed professional.

Eligible industries

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 makes Bankers Healthcare Group business loans unique?

Bankers Healthcare Group provides business loans tailored to licensed professionals — specifically healthcare workers. 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 — with rates, terms and even fees relatively negotiable.

What is a BHG business loan?

A BHG business loan is an unsecured term loan made specifically for licensed professionals. You can borrow between $20,000 and $500,000 at APRs starting at 6.99%. Terms range anywhere from 1 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 might have prepayment penalties.

While it’s unsecured, BHG requires a personal guarantee from the borrower.

What are the benefits of a Bankers Healthcare Group business loan?

From its minimal requirements to its personalized service, here are a few perks of borrowing from BHG:

  • Minimal requirements. You don’t need to meet any hard revenue or time-in-business criteria to qualify. And BHG won’t put a lien on your personal or business assets when you take out a loan.
  • Personalized service. The staff at BHG works with you to help you customize your loan for your specific needs.
  • No hard credit check. This lender only conducts a soft credit check when you apply for a loan, which doesn’t affect your credit score.
  • Multiple loans OK. Depending on the circumstances, you might be able to take out another business loan before paying off your first.
  • You don’t need to be the owner. Any licensed professional can apply for this loan, even if you don’t own the business.

What to watch out for

Consider these potential drawbacks before taking out a business loan from BHG:

  • Longer turnaround than other online lenders. BHG might be faster than a bank, but it can take a day to get approved and three days to receive your funds — a bit longer than more automated online lenders.
  • Personal guarantee. While you don’t need to provide collateral, you’re personally responsible for paying off the loan if your business can’t.
  • Potential prepayment penalty. Some loans might come with a penalty for paying off the loan early, meaning you might not be able to save on interest.
  • Won’t build your credit. A BHG business loan doesn’t show up on your personal credit report, and repaying it on time won’t improve your credit score.
  • Not much information online. You have to dig into the FAQs to find basic information about the loan, and even then it doesn’t disclose closing fees and other important features.

Compare more business loan providers

Updated April 9th, 2020
Name Product Filter Values Loan amount Starting APR Requirements
$500 – $5,000,000
Operate a business in the US or Canada, have a business bank account and have a personal credit score of 675+.
Submit one simple application to potentially get offers from a network of over 75 legit business lenders.
$5,000 – $500,000
600+ personal credit score, 1+ years in business, $100,000+ annual revenue
A leading online business lender offering flexible financing at competitive fixed rates.
$30,000 – $5,000,000
650+ personal credit score, US citizen or permanent resident, 2+ years in business, $50,000+ annual revenue, no outstanding tax liens, no bankruptcies or foreclosures in past 3 years
Get funding for your small business with a government-backed loan and extended repayment terms.
Kabbage Paycheck Protection Loan
Up to $10 million for 7(a) loans, $1 million for Express loans
No requirement to prove you tried and failed to get credit elsewhere

Compare up to 4 providers

What do borrowers say about Bankers Healthcare Group?

Bankers Healthcare Group gets mostly positive online reviews, though a few customers share negative experiences. It gets nearly 5 out of 5 stars on its Better Business Bureau (BBB) page as of July 2019. Trustpilot reviewers give it a slightly lower rating of 8.6 out of 10.

Many were pleased with the professionalism of the BHG team and speed of the process. However, several customers complained about high interest rates and prepayment penalties.

How do I apply?

You can get started on the application online or by picking up the phone and calling 866-280-5476. Before you begin, double-check to make sure you meet BHG’s eligibility requirements.

Follow these steps to start the application online:

  1. Go to the BHG website.
  2. Enter your name, medical title, phone number, email and ZIP code.
  3. Click Get Started.

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 all required documents, you’ll receive a decision in as little as 24 hours. After you sign the documents, it can take three days to receive the funds.

What documents do I need to apply?

It varies by applicant, though you might be asked to provide:

  • Proof of income. If you aren’t the business owner, you typically need to provide a pay stub or other proof of income.
  • IRS Form 8821. BHG requires business owners to fill out this form, which gives it permission to verify your business’s last two years of tax returns.
  • State-issued ID. BHG might require a driver’s license or passport to verify your identity.

I got a BHG business loan. Now what?

Now it’s time to set up repayments. All BHG loans come with monthly repayments, and the company allows you to pick your due date to work around your business’s cash flow. Most borrowers opt to sign up for automatic repayments so they don’t have to take the time to log a repayment.

Even if you sign up for automatic repayments, keep tabs on your balance and bank account. Contact customer service if you notice anything off. Also, reach out if you want to make an extra repayment — it might not be worth it if there’s a fee.

Bottom line

BHG business loans could be a solution for healthcare and other licensed professionals who’ve had trouble finding funding elsewhere or want a personalized experience. However, it’s not ideal if you need money right away or don’t have much time to spend on the application.

You can find out how it compares to similar options by checking out our guide to business loans for healthcare professionals.

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.

Ask an expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use and Privacy and Cookies Policy.
Go to site