Building a medical practice can be a financial strain for physicians. SunTrust's Physician Line of Credit is designed to help new physicians cover a wide range of personal expenses.
|What can you use this Line of Credit for?||From debt consolidation to unexpected costs, this line of credit can be used by physicians and dentists in practice to cover a wide range of personal expenses.|
|Line of Credit Amount||$25,000 to $100,000|
|Interest Rate||As low as Prime + 3.25% (Currently 8.50% APR)2|
|Line Term||One to four-year repayment terms3|
|How to Apply||Apply online or by phone|
|Access to Funds||Through online banking, convenience checks, in your local branch or by phone|
|Fees||No prepayment penalties|
|What can you use this Line of Credit for?|
|From debt consolidation to unexpected costs, this line of credit can be used by physicians and dentists in practice to cover a wide range of personal expenses.|
|Line of Credit Amount|
|$25,000 to $100,000|
|As low as Prime + 3.25% (Currently 8.50% APR)2|
|One to four-year repayment terms3|
|How to Apply|
|Apply online or by phone|
|Access to Funds|
|Through online banking, convenience checks, in your local branch or by phone|
|No prepayment penalties|
Apply Online or by Phone
Apply in less than 15 minutes.
Preliminary Loan Decision
If approved, a SunTrust representative will contact you within 24 hours to discuss the details and documents required.
SunTrust reviews your submitted documents, and will contact you with any additional questions.
Final Decision & Loan Closing
Review the final approved terms and schedule a convenient time and day to send the loan documents for signing.
Important Information About These Products
Subject to credit approval, eligibility and credit qualifications.
1 Full principal amount as well as any unpaid, accrued interest is due at maturity date stated in credit agreement.
2 Prime Rate is The Wall Street Journal Prime Rate, which was 5.25% Annual Percentage Rate (APR) as of 9/27/18. The APR is variable, indexed to The Wall Street Journal Prime Rate plus a margin, and is subject to increase or decrease as the index increases or decreases.
3 For example, on a $5,000 draw with a variable 8.25% APR on a 4-year line of credit, your monthly interest-only payment would be $34.88 until the line matures. The full principal amount, as well as any unpaid, accrued interest, is due at the maturity date stated in the credit agreement.
SunTrust will never send unsolicited emails asking you to provide, update or verify personal or account information, such as passwords, Social Security numbers, PINS, credit or Debit Card numbers, or other confidential information.
Subject to standard credit approval. If you are self-employed, on commission, or a substantial portion of your income is from a source other than salary, you may need to provide us a copy of your last two years' Federal tax returns. Exclusions and limitations apply. Rates and/or program subject to change without notice. Physician Line of Credit is only available in AL, AR, FL, GA, MD, MS, NC, SC, TN, VA, DC, and WV.
Relationship pricing and ACH discounts are not available on lines of credit offered through SunTrust’s Physician Lending group.
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