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  • Writer's picturePreston Morris

American Medical Loans: Borrow up to $40,000

Updated: Jun 7

Medical Loans & Financing: What You Need to Know

Our medical loans are absolutely hassle free: there's no cost to check your loan interest rate, no cost to apply, and best of all, no additional cost if you decide to pay off the loan early. All pertinent information regarding your loan's terms (loan rates, payment schedule, etc) is presented upfront and the application process is transparent, so there's no need to worry about fine print or 'gotchas'!

Once your medical, dental, or cosmetic surgery loan is approved, you'll have immediate access to cash (up to $40,000) in as little as 48 hours, allowing you to avoid financial stress and focus on recovery!

Looking For a Medical Loan?

CLICK Here For Instant Medical Loan Application!

Pros and cons of medical loans


  • Repay medical debt with a fixed interest rate and fixed monthly payments

  • You can get the funding you need quickly, sometimes on the same day you applied

  • You can use the loan to pay for virtually anything

  • You can request a loan for the amount you need, whether that’s as little as $1,000, up to $100,000 or more


  • You’ll pay interest; other financing options may require no interest or less interest

  • Those with low or no credit will see high interest rates, if they’re approved at all

  • You may have to pay a loan origination fee of about 1%-8% of the cost of the loan, as well as a prepayment penalty if you pay off the loan early

  • You may not find a personal loan small enough for the procedure you need

Advantages of medical loans

Medical loans can be a good alternative to depleting emergency savings or racking up credit card debt. Here are some of the main benefits of a medical loan:

  • Variety of loan terms: Most personal loans offer repayment term options ranging from 36 to 60 months, allowing you to select a length that best suits your needs. And since interest rates are fixed, you’ll have the exact same payment each month.

  • Fast funding. “It’s quite common for patients to be denied services unless they come up with payment. A medical loan may be the only way to obtain critical medical care, or cosmetic care for that matter,” says Michael Sullivan of Take Charge America. Many personal loans can be disbursed in a matter of days, getting you the money you need without delay.

  • Less expensive than credit cards. Using a credit card to cover the cost of medical treatment can be expensive, with interest rates averaging around 16 percent. If you have good credit, it’s common to find personal loans with interest rates around 6 percent or lower.

  • Flexible use. The proceeds from personal loans can be used for almost anything you’d like. “In the case of medical-related expenses, the uses could include treatments or procedures not covered by insurance, and living and travel expenses incurred during treatment and recovery,” says Michael Micheletti of Freedom Financial Network.

Looking For a Medical Loan?

CLICK Here For Instant Medical Loan Application!

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