How do I apply?

You only need to call us! We can take a quick application over the phone! You will need to give us your name, address, phone number, and social security number. A staff team member will notify you within 24 to 48 hours of your application! We can pre-qualify you for an approval up to $350,000.00. Should your particular project require more, LCF requires a full financial package from the past three years prior to approval consideration.

Am I obligated to use the approval?

No. Your approval is valid up to four months from the day you are approved. Should you decide not to use it immediately, it will remain in our system until expiration. If you would like to use a portion of the approval immediately, and wait a couple of months to use more, and so on, you are able to do that as well. In the event that your approval expires in the middle of your project, we can re-approve as soon as it expires and the project continues. You can also come back to us after an untouched approval has expired and we are happy to renew it for you.

What if I do not have a space lease yet for my practice start-up, or I have not found a practice to buy, am I eligible for approval?

Absolutely! We encourage you to line-up the approval prior to beginning any project. Some landlords need to see proof of financing prior to lease signing. Some practice sellers and brokers need to see that you are approved before they consider you as a potential buyer. By applying for financing before beginning even the earliest stages of your project, you are able to eliminate some unexpected problems.

If I choose to start-up an office, rather than buy, how do I pay my construction, equipment, and obtain working capital?

LCF Financial Services prides itself on its practice financing program. Once your approval is in place, and you decide to finance with us, we will pay your rent deposit directly for you with a copy of your lease, stating the amount needed. Once you have signed your contract with the construction company, you will fax that to us, as well. We will pay all deposits and payments directly to them upon their request.

Once your equipment is invoiced, you will fax them to us and we will pay any required deposits prior to delivery, all remaining balances after delivery, as well as all payments in between. You may request working capital at any time throughout your project. You do not need to (and are encouraged not to) utilize all working capital at once. You may take as much or as little during the course of your office project. All disbursements throughout the entire project are not made without your written and verbal authorization. You remain in control of your funds at all times.

If there is absolutely no money out of my pocket during the project, when do I begin to pay back my finance agreement?

Before you begin your project, you need to sign a proposal based on your term and structure from which you will choose among several options. If you are starting-up an office, we recommend you choose an option that defers payments for up to 90 days. You can also elect to eliminate your advanced payment. By doing so, your cash-flow will be where it needs to be during the first few crucial months of running an office.

If you are buying an existing office, we recommend you choose the deferred payment plan if you are not purchasing any accounts receivable. You can choose whichever payment plan best suits your needs. We have a variety of straight payment plans available. Should you choose a straight plan, you make your first payment at the close of your transaction (typically this is when your new office is opened, or when your funds have been wired to the seller's account). In addition, with both deferred and straight payment plans, you have the option of gradually increasing your payments. This is an excellent way to increase cash flow and business income during the first few years of a practice start-up.