More Medical Professionals Can Become Business Owners as Practice Pathways Expands to 50 States

Rhea-AI Summary

Zions Bancorporation has expanded its Practice Pathways program to all 50 states, providing financial support for medical specialists looking to start or acquire practices. The program offers a variety of lending solutions, including practice acquisition loans and working capital loans, with a streamlined application process that ensures responses within 24 business hours. With a strong reputation, evidenced by 18 awards from Greenwich Associates in 2020, Zions aims to assist healthcare professionals in transitioning to business ownership.

Positive

• Expansion of Practice Pathways program to all 50 states.
• Streamlined application process with responses in 24 business hours.
• Diverse lending solutions tailored for medical specialists.
• Recognition for trust and service quality from Greenwich Associates.

Negative

• None.

More medical specialists looking to start or acquire a practice can receive support for their venture through Zions Bancorporation’s Practice Pathways program, which has now expanded to all 50 states across the country. Practice Pathways focuses on lending solutions for dentists, veterinarians, optometrists, physicians and pharmacists.

While private practices faced headwinds from 2020 shutdowns, consumer confidence in scheduling visits is rising. April 2021 marked the highest month for dental patient volume in a poll first launched in March 2020. The “pandemic puppy” trend bolstered veterinary revenue 7% from 2019 to 2020.

To help acquisition-ready specialists purchase private practices, Zions Bancorporation Practice Pathways offers a designated relationship manager as the sole point-of-contact to provide a variety of services, including:

• Practice acquisition loans
• Debt consolidation and refinancing
• Real estate, multi-practice and equipment financing
• Startup, improvement, expansion or relocation
• U.S. Small Business Administration financial solutions
• Working capital loans and lines of credit

Practice Pathways offers a streamlined application process, with most applications receiving a response within 24 business hours. Competitive fixed-rate and variable-rate options with terms up to 15 years are available to maximize cash flow.

“Medical professionals excel in their respective fields of medicine and patient care, but they also need support on the business side to start or acquire a practice,” said David Kirby, senior vice president and director of Practice Pathways. “As optimism for the future grows among professionals, we are here to share our knowledge and help them successfully transition into business owners.”

Health practice owners can feel confident working with Practice Pathways after Zions Bancorporation received the 2020 Best Brand recognition in the category of “Trust” among small and mid-sized businesses surveyed by leading financial industry consultant Greenwich Associates. Zions was awarded 18 Excellence and Best Brand awards in 2020, demonstrating dedication to providing the highest-quality cash management products and exceptional customer service every day. The Greenwich Excellence Awards in small business and middle market banking were based on more than 23,000 market research interviews with businesses nationwide evaluating more than 600 banks.

For more information, visit www.PracticePathways.com or call (888) 588-6265.

Loans are subject to credit approval. Terms and conditions apply. See a banker for details.

Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $85 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. Zions is a national leader in small business lending, including Small Business Administration lending, ranking as the nation’s 10th largest provider of the SBA’s Paycheck Protection Program loans. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking as well as a leader in public finance advisory services. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices. Investor information and links to local banking brands can be accessed at zionsbancorporation.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005090/en/

FAQ

What is Zions Bancorporation's Practice Pathways program?

Practice Pathways is a program offering financial support and lending solutions for medical specialists looking to start or acquire a practice.

How has Zions Bancorporation expanded its services recently?

Zions Bancorporation has expanded its Practice Pathways program to all 50 states.

What types of loans does the Practice Pathways program offer?

The program offers practice acquisition loans, debt consolidation, real estate financing, and working capital loans.

How quickly can applicants expect responses from the Practice Pathways program?

Most applications receive a response within 24 business hours.

How did Zions Bancorporation perform in customer trust surveys?

Zions received 18 Excellence and Best Brand awards from Greenwich Associates in 2020 for its services to small and mid-sized businesses.