Practice Financing

Getting financing for a chiropractic practice

Any chiropractor looking to buy an existing business may have many questions about how to get the right financing to complete your transaction. Obtaining a loan can be particularly challenging for borrowers who are typically 25-30 years old, may or may not be married, may have children, may not own a home, and have little to no investments but does have a lot of student loan debt.

There are many financing options to fit your budget and personal needs. Financing through your local bank is a popular option which can include preferred lenders, certified or general Small Business Association (SBA) lenders, and non-SBA lenders. Which option is right for you? Learn about your local bank options below!

Non-SBA Lending/Conventional Lending:

“Preferred” lending banks have done a certain number of transactions that have had little to no default on repayment. The federal government then gives these banks the authority to underwrite and approve the loan internally without sending the application to the SBA for final approval.

A vast majority (95% or more) of chiropractic loans are funded using SBA loans.

Certified SBA Lender:

With certified, or general, SBA lenders, the bank has the authority to start the transaction, approve to loan at the bank level and complete the underwriting. Then they’ll submit the financing package to the SBA for final approval. The cons of certified lenders include:

  • Being extremely time consuming.
  • Dealing with the unknown. You are typically dealing with an underwriter at the SBA that you cannot communicate with, so the results can be unpredicatable.
  • You may not be able to apply somewhere else if denied. If your application is sent to the SBA and they decline it, the loan process is halted. You won’t be able to apply with any other SBA lender for an extended time, perhaps as long as a year. In contrast to applying for financing with a preferred lender, if initially denied, you can go to any other preferred lender and pursue the loan elsewhere without any waiting period.

Non-SBA Lending/Conventional Lending:

Non-SBA lending means the bank will provide funding without the SBA being involved. Conventional lending in Chiropractic business transactions is rare. The SBA guarantees the bank repayment of a significant portion of the loan if the small business owner should default.

Occasionally, one will get a conventional loan (non-SBA), but the buyer will have to have sufficient collateral, such as a house, car, or investments, to get approval.

Lending options for Chiropractors

Choose your lender carefully

Make sure you ask the right questions before you decide on your lender. First, we recommend asking your banker if they’re a preferred lender. If they say anything other than “YES,” carefully reconsider if you want to use that lender, no matter how friendly they are or the personal connections you have to them. The SBA guarantee enables banks to provide people and businesses with funding that would not typically receive funding. At the end of the day, make sure you choose the right lender for you!

Practice Brokers, Inc. can not only demystify the loan process within the chiropractic industry, but also assist in securing financing for the purchase of a chiropractic practice. Learn more about where to get financing here.

Our services include:

  • Providing the buyer with the necessary tools to develop a successful business plan
  • Coordinating all of the required documents for the financial package, including supplying instructions on how to complete the package AND offering assistance in executing the paperwork
  • Reviewing and revising the financial package as needed, before presenting it to the lending institution
  • Submitting the financial package to the lending institution
  • Interacting and negotiating with the lender on behalf of the buyer

And once the loan is approved, we help with:

  • Coordinating and monitoring the completion of the bank’s final financing checklist
  • Managing the flow of additional required information to the bank in order to get to the closing table

A financial procurement fee between 1½ and 3% is charged to the buyer and is typically based on the size of the loan amount secured. No fee is paid if we are unable to help the buyer secure financing.

Chiropractic practice financing

Schedule a Free Consultation

We make dreams come true.

There is no cost or obligation during the initial consultation. We do not believe in having to open your wallet when trying to find the right broker. Once all parties agree to begin working together, that is when fees will occur. We have separate fees for business appraisals, brokering, and financial procurements which are all discussed BEFORE any party moves forward. Appraisals are paid for upfront and based on set fees, while brokering and financial provisions are paid at closing and based on a percentage. We only earn a commission when we successfully close a deal!


Learn the process of buying and selling a practice.


Addressing any potential questions or concerns.

Next Steps

If we are a good match, setting the plan for what is next.

How can our team help you?

If you have been wondering how much your practice is worth, how to sell your practice, or how to buy a practice, we can answer any questions you may have. We have experience with various types of practices and experience levels. Please explore our site to learn more about our services. We welcome you to contact our office and ask about business appraisals, selling your practice, buying a practice, or our listings.