FAQ

Doctors' frequently asked questions, answered.

Frequently Asked Questions

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Once your funds are disbursed you will receive instructions on how to register and create your servicing account. You can register for our secure portal here.

Your first payment defaults to 30 days after your funds are disbursed. If you would like to extend it up to 45 days, please login to your account on our secure portal and request a due date change or you can call 1-877-205-8985.

You can find personal loan documents within your Doc2Doc Lending – Login (youronlineaccount.com)

  • Set up autopay today and receive a 0.25% interest rate reduction by logging into your borrower portal and managing recurring auto-debit payments. This will also ensure on-time payments and no late fees.
  • Make a one-time payment here.
  • Call (877) 205-8985 to make a payment over the phone. Please have your ACH checking account information ready.
  • Pay through your bank’s online bill pay service.
  • Checks can be made out to Doc2Doc Lending and mailed to PO BOX 845073, Dallas, TX 75284-5073

No, a large payment will pay off more of the principal balance. The monthly minimum payment is always the same. Making larger payments will reduce the term length.

We are here to help. Please visit https://www.doc2doclending.com/manage-my-loan/financial-hardship/ or email us at [email protected] with a short summary of how we can help. It’s important that you reach out before your payment is due with the hardship or the delinquency will be reported to the credit bureaus.

There are no tax documents for your personal loans. Login to your account on our secure portal to review your statement and loan documents.

Yes, the personal loan will report to the credit bureaus as an installment debt.

A secured personal loan requires collateral, such as a home or car, to back the loan. If the borrower defaults, the lender can seize the collateral to recover the debt. An unsecured personal loan does not require collateral and is based solely on the borrower’s creditworthiness. As a result, unsecured personal loans typically have higher interest rates as they pose a higher risk to the lender.

The interest is the cost of borrowing money expressed as a percentage, while the APR includes all the costs associated with borrowing, such as interest rate, fees, and other charges. That is why the APR is often higher than the interest rate.

Our fixed interest rate personal loans offer simple interest rates. The interest rate is set at the time of origination, accrues daily, and does not change. Interest is charged only on the principal balance and unlike credits card interest is not charged on interest that is accrued.

There is no prepayment penalty. You can pay the loan off at any point and only pay the interest that accrued until that point.

Automatic Recurring Payments help ensure your payments are made on time and will save you money. Not only will you avoid late fees, but you will also receive a 0.25% Interest Rate reduction on your Personal Loan, leading to savings on interest expenses. Payments are reported to the credit bureau and will help build your credit history.

In-Training Doctors may choose between the Hybrid or the Standard Loan repayment options. Doctors who are finishing their training and starting their practicing careers can apply for a Bridge repayment where you pay 6 months of IO before transitioning to full principal and interest payments.

Doc2Doc Lending conducts a soft credit pull that will not affect your credit score when you Apply for a Personal Loan. If you accept and sign your final credit agreement, we will request your full credit report, which is considered a hard credit pull and may affect your credit score.

Our Hybrid Loan option offers the most flexibility with lower payments during the first half of the loan, consisting solely of interest. In the latter half of the loan, the payment increases and comprises principal and interest. This option is only for in-training doctors.

Our Standard Loan option offers equal monthly payments for the entire loan comprised of principal and interest.

Apply for the maximum amount you would like to borrow and plan for the unexpected. You can always pay your loan back early with no prepayment penalties.

Some expenses to consider are the costs associated with moving including a moving truck, boxes, movers, security deposits often 2-3 months of rent, utility deposits, and incidental expenses.

Consider the timing of your first paycheck. Your first payment may be due on your loan before you receive your paycheck.

Your first payment is due 30-45 days after you receive your funds.

Funds are disbursed on average within 7 business days of your loan being verified and a final credit agreement has been signed.

As a Financial Institution we are legally required to verify an applicant’s identity. We use third party tools to help us meet this requirement.

No, unfortunately we do not lend to applicants with J1 visa at this time.

  • 4th-year medical, podiatric and dental students who have successfully matched into a paid residency program.
  • U.S. citizen, permanent resident, or temporary resident holding a valid 0-1 or H-1B visa.
  • Earned an MD, DO, DPM, MBBS, DDS, or DMD degree.
  • U.S. mailing address except for residents of Maine and West Virginia where we do not offer loans.

Yes, the personal loan will report to the credit bureaus as an installment debt.

Current members whose loans are in good standing can apply to refinance their loan after making two on-time consecutive payments. You would submit a new application for the amount you’d like to refinance.

Yes, current members whose loans are in good standing may qualify to borrow additional funds after making two on-time consecutive payments. The combined loan amounts cannot exceed the maximum personal loan amount.

We disburse funds into a personal savings or checking account. We do not disburse funds into business accounts. The funds will be disbursed via ACH.

As soon as we receive your requested verification documents, the process begins and takes 1-2 business days.

You will receive a detailed email that specifically outlines which documents you need to upload for verification. Documents may include match letters, employment contracts, pay stubs, and/or taxes. You can always email our team at [email protected] if you have any questions.

There is a 0-2% origination fee. The fee is deducted from the requested loan amount. The lowest rate is reserved for the most creditworthy borrowers.

Doc2Doc does not work with partners or brokers that charge additional fees outside our origination fee.

No, Doc2Doc underwrites just the applicant.

  • In Practice Doctors can borrow up to $100,000.
  • In Training Doctors including Fellows, Residents, and Matched 4th-year medical students can borrow up to $25,000.
  • In Training Doctors transitioning to In Practice who anticipate graduating in 6 months and have an executed employment contract can borrow up to $50,000 with our Bridge Loan.

If you’re having trouble submitting your application, you may need to clear your cache. You can also try applying directly at Apply Here. If possible, we suggest you attempt applying from Google Chrome on a desktop computer.

We do not negotiate rates.

Doc2Doc uses a proprietary algorithm that considers various credit related factors and specialty related metrics to determine your rate.

Our Hybrid Loan option offers the most flexibility with lower payments during the first 2.5 years of the loan, consisting solely of interest. In the latter half of the loan, the payment increases and is comprised of principal and interest. This option is only for in-training doctors.

Our Standard Loan option offers equal monthly payments for the entire loan comprised of principal and interest.

Our Bridge Loan option is for doctors who are transitioning from finishing their training to starting their careers. This loan offers 6 months of interest only payments followed by 54 months of principal and interest payments.

Automatic Recurring Payments help ensure your payments are made on time and will save you money. Not only will you avoid late fees, but you will also receive a 0.25% Interest Rate reduction on your Personal Loan, leading to savings on interest expenses. Payments are reported to the credit bureau and will help build your credit history.

Doc2Doc conducts a soft credit pull that will not affect your credit score when you apply for a personal loan. If you accept and sign your final credit agreement, we will request your full credit report, which is considered a hard credit pull and may affect your credit score.

You will receive a loan decision within 24 hours of applying. Please check your spam if you have not heard from us, as often, bank emails get flagged as spam. If the loan decision is not in your inbox, please email [email protected] and request that a loan decision be resent.

The application takes less than five minutes to complete on a computer or mobile device. To apply, click here and follow the prompts to provide the necessary information.

The Doc2Doc Personal Loan provides all your funds at once with fixed monthly payments over a set period and a Fixed Interest Rate while most credit cards have a Variable Interest Rate tied to the Prime Rate that changes when the Federal Reserve changes rates. Credit card payments vary based on the balance on your credit card.

  • Credit Card Consolidation
  • Moving and Relocation
  • Home Improvements
  • Debt Refinancing
  • Living Expenses
  • Career Development
  • Weddings and Engagements
  • Unexpected Health Expenses
  • Family Planning
  • Business Expenses, Licensing Fees, Certifications and Tail coverage
  • Investments
  • Physicians, podiatrists, or dentists practicing in the United States.
  • In training resident or fellow physicians, podiatrists, or dentists training in the United States.
  • 4th-year medical and dental students who have successfully matched into a paid residency program.
  • U.S. citizen, permanent resident, or temporary resident holding a valid 0-1 or H-1B Visa.
  • Earned an MD, DO, DPM, MBBS, DDS, or DMD degree.
  • U.S. mailing address except for residents of Maine and West Virginia where we do not offer personal loans.

    Doc2Doc Lending conducts a soft credit pull that will not affect your credit score when you Apply for a Personal Loan. If you accept and sign your final credit agreement, we will request your full credit report, which is considered a hard credit pull and may affect your credit score.

    Our Hybrid Loan option offers the most flexibility with lower payments during the first half of the loan, consisting solely of interest. In the latter half of the loan, the payment increases and comprises principal and interest. This option is only for in-training doctors.

    Our Standard Loan option offers equal monthly payments for the entire loan comprised of principal and interest.

    Apply for the maximum amount you would like to borrow and plan for the unexpected. You can always pay your loan back early with no prepayment penalties.

    Some expenses to consider are the costs associated with moving including a moving truck, boxes, movers, security deposits often 2-3 months of rent, utility deposits, and incidental expenses.

    Consider the timing of your first paycheck. Your first payment may be due on your loan before you receive your paycheck.

    Your first payment is due 30-45 days after you receive your funds.

    Funds are disbursed on average within 7 business days of your loan being verified and a final credit agreement has been signed.

    As a Financial Institution we are legally required to verify an applicant’s identity. We use third party tools to help us meet this requirement.

    No, unfortunately we do not lend to applicants with J1 visa at this time.

    • 4th-year medical, podiatric and dental students who have successfully matched into a paid residency program.
    • U.S. citizen, permanent resident, or temporary resident holding a valid 0-1 or H-1B visa.
    • Earned an MD, DO, DPM, MBBS, DDS, or DMD degree.
    • U.S. mailing address except for residents of Maine and West Virginia where we do not offer loans.

    Yes, the personal loan will report to the credit bureaus as an installment debt.

    Current members whose loans are in good standing can apply to refinance their loan after making two on-time consecutive payments. You would submit a new application for the amount you’d like to refinance.

    Yes, current members whose loans are in good standing may qualify to borrow additional funds after making two on-time consecutive payments. The combined loan amounts cannot exceed the maximum personal loan amount.

    We disburse funds into a personal savings or checking account. We do not disburse funds into business accounts. The funds will be disbursed via ACH.

    As soon as we receive your requested verification documents, the process begins and takes 1-2 business days.

    You will receive a detailed email that specifically outlines which documents you need to upload for verification. Documents may include match letters, employment contracts, pay stubs, and/or taxes. You can always email our team at [email protected] if you have any questions.

    There is a 0-2% origination fee. The fee is deducted from the requested loan amount. The lowest rate is reserved for the most creditworthy borrowers.

    Doc2Doc does not work with partners or brokers that charge additional fees outside our origination fee.

    No, Doc2Doc underwrites just the applicant.

    • In Practice Doctors can borrow up to $100,000.
    • In Training Doctors including Fellows, Residents, and Matched 4th-year medical students can borrow up to $25,000.
    • In Training Doctors transitioning to In Practice who anticipate graduating in 6 months and have an executed employment contract can borrow up to $50,000 with our Bridge Loan.

    If you’re having trouble submitting your application, you may need to clear your cache. You can also try applying directly at Apply Here. If possible, we suggest you attempt applying from Google Chrome on a desktop computer.

    We do not negotiate rates.

    Doc2Doc uses a proprietary algorithm that considers various credit related factors and specialty related metrics to determine your rate.

    Our Hybrid Loan option offers the most flexibility with lower payments during the first 2.5 years of the loan, consisting solely of interest. In the latter half of the loan, the payment increases and is comprised of principal and interest. This option is only for in-training doctors.

    Our Standard Loan option offers equal monthly payments for the entire loan comprised of principal and interest.

    Our Bridge Loan option is for doctors who are transitioning from finishing their training to starting their careers. This loan offers 6 months of interest only payments followed by 54 months of principal and interest payments.

    Automatic Recurring Payments help ensure your payments are made on time and will save you money. Not only will you avoid late fees, but you will also receive a 0.25% Interest Rate reduction on your Personal Loan, leading to savings on interest expenses. Payments are reported to the credit bureau and will help build your credit history.

    Doc2Doc conducts a soft credit pull that will not affect your credit score when you apply for a personal loan. If you accept and sign your final credit agreement, we will request your full credit report, which is considered a hard credit pull and may affect your credit score.

    You will receive a loan decision within 24 hours of applying. Please check your spam if you have not heard from us, as often, bank emails get flagged as spam. If the loan decision is not in your inbox, please email [email protected] and request that a loan decision be resent.

    The application takes less than five minutes to complete on a computer or mobile device. To apply, click here and follow the prompts to provide the necessary information.

    The Doc2Doc Personal Loan provides all your funds at once with fixed monthly payments over a set period and a Fixed Interest Rate while most credit cards have a Variable Interest Rate tied to the Prime Rate that changes when the Federal Reserve changes rates. Credit card payments vary based on the balance on your credit card.

    • Credit Card Consolidation
    • Moving and Relocation
    • Home Improvements
    • Debt Refinancing
    • Living Expenses
    • Career Development
    • Weddings and Engagements
    • Unexpected Health Expenses
    • Family Planning
    • Business Expenses, Licensing Fees, Certifications and Tail coverage
    • Investments
    • Physicians, podiatrists, or dentists practicing in the United States.
    • In training resident or fellow physicians, podiatrists, or dentists training in the United States.
    • 4th-year medical and dental students who have successfully matched into a paid residency program.
    • U.S. citizen, permanent resident, or temporary resident holding a valid 0-1 or H-1B Visa.
    • Earned an MD, DO, DPM, MBBS, DDS, or DMD degree.
    • U.S. mailing address except for residents of Maine and West Virginia where we do not offer personal loans.

      Cash Flow Management: Healthcare practices often experience fluctuations in cash flow due to delayed insurance payments, seasonal variations in patient visits, or unexpected expenses. A business line of credit can provide a financial buffer during these periods, ensuring smooth operations and timely payment of expenses like payroll and suppliers. 

      Equipment and Technology Purchases: Medical equipment and technology can be costly but are crucial for providing quality care and staying competitive. A business line of credit can help doctors finance the purchase of new equipment or upgrade existing technology without a large upfront expense. 

      Expansion and Renovation: If a doctor plans to expand their practice, renovate existing facilities, or open a new clinic, a business line of credit can provide the necessary funds. This flexibility allows them to seize growth opportunities without tapping into their cash reserves. 

      Inventory Management: Maintaining adequate inventory of pharmaceuticals, medical supplies, and other consumables is essential for healthcare providers. A business line of credit can cover the cost of stocking up inventory, especially during peak demand periods. 

      Marketing and Patient Acquisition: Healthcare practices often invest in marketing campaigns to attract new patients and build their brand. A business line of credit can fund these initiatives, such as advertising, website development, or hosting community events to enhance visibility. 

      Dealing with Emergencies: Medical emergencies or unforeseen circumstances can strain a practice’s finances. A business line of credit provides quick access to funds to manage urgent expenses like equipment repairs or temporary staffing needs during staff shortages. 

      Professional Development and Training: Continuing education and professional development are essential for doctors to stay current with advancements in medicine. A business line of credit can cover the costs of attending conferences, workshops, or specialized training programs. 

      Technology Upgrades and IT Services: Healthcare practices increasingly rely on technology for patient management, electronic health records (EHR), and telemedicine. A business line of credit can finance IT upgrades, software licenses, and cybersecurity measures. 

      Regulatory Compliance and Licensing: Meeting regulatory requirements and maintaining professional licenses often come with associated costs. A business line of credit can assist doctors in covering fees related to compliance and licensing. 

      The application is simple. The application includes four prequalification questions, five easy steps and no hard credit pulls so your credit won’t be affected.

      The initial line can be approved in 24 to 48 hours, with 24-hour access to 5 separate loan drafts over the next 6 months. 

      A Business Line of Credit (LOC) is a flexible financing option that provides access to a predetermined amount of funds you can draw from as needed. It’s similar to a credit card in that you have a credit limit and can borrow up to that limit whenever necessary. 

      Overall, a business line of credit provides medical practitioners with financial flexibility and stability, allowing them to focus on delivering quality patient care while effectively managing their practice’s financial needs. 

      No – the loan may be paid-in-full at any time. 

      The ASC will send the ownership distributions directly to the lender. Distributions are applied to the loan payment due (accrued interest/principal). If the distributions are greater than the loan payment, the borrower may have the option to prepay the loan or receive the overage personally via direct deposit.  

      The interest rate will vary by loan. We offer competitive interest rates.  

      There are two one-time fees (facility fee and legal fee). The fees are included in the loan amount (no out of pocket fees required).  

      Physicians buy-in loans are for 5 years (20 quarterly payments of principal + accrued interest).  

      Example: $100,000 loan will be divided into 20 quarterly payments of $5,000 (principal) + accrued interest.  

      No – the loan is considered a commercial loan. We do not report loan balances to the credit reporting agencies. The credit report will note that we pulled your credit.  

      No – unless the borrower is a legal entity in which the spouse has ownership.  

      Yes, the borrower can be an LLC, Sub S corporation, C corporation or Trust. If borrowing as an entity, the individual physician will be required to sign a personal guaranty. 

      The borrower must be who the ASC operating entity recognizes as the owner of the shares.  

      Doc2Doc can refer you to an expert team to help draft your business plan, financial projections, and written assumptions in four business days. You can include the cost in your SBA loan.  

      Applying for an SBA loan, such as an SBA 7(a) loan, typically requires several documents to demonstrate the financial health and viability of the business. We will walk you through the specific requirements for your application. In general, we’ll need: 

      Documents Related to the Business including: 

      • Business Plan: A comprehensive business plan outlining your business goals, operations, target market, financial projections, and how you plan to use the loan proceeds. 
      • Business Projected Financial Statements: A projection of your business’s financial performance, including income statements, balance sheets, and cash flow statements, for the next few years. 
      • Use of Loan Funds: A detailed explanation of how the loan funds will be used. 
      • Business Tax Returns: For the last four years. 
      • Business Debt Schedule: A schedule of all outstanding debts the business currently owes. 
      • Business Financial Statements: Including income statements, balance sheets, and cash flow statements for the past few years (if applicable) and current year-to-date financials. 

      Personal Documents for all owners with >20% ownership  

      • Personal Tax Returns: Personal tax returns for the business owners for the last four years. 
      • Personal Resume  
      • Personal Financial Statement   
      • Last three months of bank statements showing cash equity, for all personal accounts 

      The first step is to submit an inquiry with Doc2Doc. Our commercial loan specialist will review your information and introduce you to our SBA Preferred Lender.  

      Loans start at $25,000 and can go up to $5 million. If you qualify your maximum loan amount will be determined by one of our lenders who will factor in how you plan to use the funds, your credit score, cash flow and more.

      4th year medical students who match into a US based residency training program through the National Resident Matching Program, NRMP, are eligible to apply for a Doc2Doc In Training Personal Loan after March 15th, 2024

      IMG are eligible to apply as long as they are matched into a US based residency program and are either a U.S. citizen, permanent resident, or temporary resident holding a valid 0-1 or H-1B visa.

      No, unfortunately we do not lend to applicants with J1 visa at this time.