What is on the core document checklist?
Almost every request starts with the same core set: recent business bank statements, owner identification, basic practice information including ownership and licensing, and a clear description of what the funding is for. Larger or longer-term requests add tax returns, financial statements and a debt schedule. Having these ready is the single biggest factor in speed.
- Recent business bank statements, typically several months; many funders ask for three to six
- Owner identification and ownership details for the practice
- Business and personal tax returns, often the most recent one to two years for larger requests
- Year-to-date profit and loss statement and balance sheet
- Schedule of existing loans, leases and advances with payments
- Provider licensing information for revenue-generating providers
Which billing reports help, and how should I export them?
Funders find two billing reports most useful: monthly collections totals and an accounts receivable aging summary by payer category. Together they show how reliably services become deposits. Export them at the summary level from your billing or practice management system, and check every page for patient names, account numbers or other identifying details before sending.
If your system only produces patient-level reports, ask your billing company or software support for a summary version, or build a simple spreadsheet of monthly totals by payer category. A short payer-mix summary showing the share of commercial, government, plan and patient-pay revenue also helps. Never send patient information to any funder.
| Financing | Usually added to the core list |
|---|---|
| Equipment financing | Itemized vendor quote with installation, software and service |
| Working capital or line of credit | Collections summary and A/R aging totals by payer category |
| Build-out or new location | Lease or letter of intent, contractor bids, project budget, ramp-up forecast |
| Practice acquisition | Purchase agreement, seller tax returns and collections, valuation, transition plan |
| New practice | Personal financials, experience summary, forecast, credentialing plan |
What extra documents does each product need?
Each product adds documents tied to its purpose. Equipment financing needs an itemized vendor quote. Build-outs need the lease, contractor bids and a budget. Acquisitions need the purchase paperwork and the seller's financials. Credentialing-gap funding benefits from an enrollment status summary. Lines of credit and working capital lean mostly on bank statements and collections.
Match the list to the product. The table below summarizes the usual additions. For how each product works, see funding solutions.
What does a practice acquisition add?
Buying a practice adds the most paperwork. Expect a letter of intent or purchase agreement, several years of the seller's tax returns and collections history, receivables and payer-mix summaries, an equipment list, the lease or lease assignment, often a valuation, and the buyer's personal financial statement, resume and a transition plan covering staff and payer enrollment.
Request the seller's documents early in the letter-of-intent stage, since gathering them is often the slowest step. Have your attorney and CPA review the purchase documents. See financing a practice purchase for the full process.
What if my practice is new?
New practices replace history with a plan. Expect to provide the owner's personal tax returns and credit information, a resume or summary of clinical experience, a monthly forecast for the first year or two, a startup budget, the lease or letter of intent, equipment quotes, and a credentialing plan showing when key payers should be enrolled.
A realistic forecast that shows the ramp-up month by month is more persuasive than an optimistic annual number. See funding a new practice and funding the credentialing gap.
How do I keep patient information out of my application?
Send only financial summaries. Before uploading anything, open every page and look for patient names, dates of birth, account or claim numbers tied to patients, diagnosis codes attached to individuals and notes. Remove or regenerate reports that include them. If a funder ever asks for patient-level data, ask why, and decline if it is not necessary.
Bank statements can include patient names in deposit descriptions from some payment systems. Your practice's own privacy and compliance advisors can tell you how to handle that. When your documents are clean and ready, apply online.
Frequently asked questions
How many months of bank statements do I need?
Many funders typically ask for three to six months of business bank statements for working capital and equipment requests. Term loans, acquisitions and SBA loan options may want more history along with tax returns. Send complete statements with every page, not screenshots.
What billing reports help most?
Monthly collections totals and an accounts receivable aging summary by payer category, both at the summary level with no patient-identifying detail. A short payer-mix summary showing the share of revenue from each payer type is also useful.
Do I need proof of credentialing?
For credentialing-gap funding, a summary of pending enrollments by payer, with submission dates and status, helps a funder size the bridge. Share status information only, never patient data. For other products, active licensing for revenue-generating providers is usually enough.
Do I need a business plan?
Established practices usually do not need a formal plan for equipment or working capital. New practices, second locations and acquisitions benefit from a monthly forecast and budget, which help funders size the request and understand the ramp-up.
Documents ready?
Apply online with what you have, and we will tell you what else is needed.
Updated September 14, 2026 · MedicalBizFunding Team