Cloverland Credit takes the clinic's call or request form and puts the request before funding partners, and only a reviewing partner sets terms. The cases here use invented figures.
Invented cases for Georgetown, KY chiropractic and therapy clinics: three ultrasound and stimulation units on one equipment loan, an anti-gravity treadmill bought, leased or financed, a records and billing system on a term loan or working capital, and repair bills with a software renewal on a credit line, plus Scott County, KY practitioner office counts.
At a glance
- Offices of other health practitioners, Scott County, KY
34 employer establishments, 171 paid employees (CBP 2023, NAICS 6213)
- Practitioner offices with fewer than five employees
25 of 34, or 73.5% (Scott County, KY, CBP 2023)
- Practitioner offices with a ZIP 40324 address
34 employer establishments (ZBP 2023)
- Practitioner offices without paid employees
98 nonemployer establishments (Scott County, KY, NES 2024)
Financing ultrasound therapy units and electrical stimulation units together in Georgetown, KY
Therapeutic ultrasound and electrical stimulation are treatment modalities that combination units deliver from one cart. A clinic equipping three treatment rooms at once can put the units on one quote and one schedule.
Illustration only, invented figures: a Georgetown, KY chiropractic office prices three ultrasound and stimulation combination units at $4,350 each, $13,050 in all. Over 36 months at an 11.75% annual rate through equipment financing, the invented payment is $431.89 a month.
Thirty-six invented payments of that size come to $15,548.04, $2,498.04 of it interest.
In this invented case the units sit on carts and plug in, so the request covers the equipment alone and nothing attached to the clinic.
An anti-gravity treadmill as rehab equipment for a Georgetown, KY therapy clinic: three ways to pay
An anti-gravity treadmill lets a patient walk or run with part of their body weight taken off, which makes it a high-priced piece of rehab equipment for a therapy clinic. With one invented price, the three ways to pay compare like this.
| How it is paid | Each month | Total paid | Owner when the term ends |
|---|---|---|---|
| Cash | None | $38,500.00 on day one | The clinic |
| Lease (fair market value), 48 months | $905.00 | $43,440.00, before any end-of-lease purchase | The leasing company, unless the clinic buys it |
| Financed: 10.1% annual rate, 48 months | $978.31 | $46,958.88 | The clinic |
In this invented case the lease payments total $3,518.88 less than the loan, which carries $8,458.88 of interest. At the end, the loan leaves the clinic owning the treadmill, while the lease leaves a choice between returning it and paying its fair market value.
A treadmill of this kind can need a dedicated electrical circuit. Adding one is a job for the clinic's electrician, and that property work is not part of what this site arranges.
A new records and billing system at a Scott County, KY therapy clinic: which loan fits
A new records and billing system brings a software setup fee, data migration from the old system and tablets for the treatment rooms. The tablets last a few years and the setup is a one-time cost, so the question is whether to spread the whole amount over a term loan or clear it sooner with working capital.
Illustration only, invented figures: a Scott County, KY therapy clinic pays $8,200 for software setup and data migration and $5,600 for treatment-room tablets, $13,800 together.
| Funding type | Annual rate | Months | Monthly payment | Total paid | Interest |
|---|---|---|---|---|---|
| Term loan | 12.8% | 30 | $539.95 | $16,198.50 | $2,398.50 |
| Working capital | 14.6% | 9 | $1,628.11 | $14,652.99 | $852.99 |
In this invented example the term loan keeps the payment near a third of the working capital payment, at $1,545.51 more interest over its longer life. A clinic whose weekly visits cover the higher payment with room to spare may prefer the shorter route.
A credit line for repair bills and a software renewal at a Georgetown, KY therapy clinic
Repairs come without warning: a treatment table's motor fails, or a modality unit needs a new board. A software renewal, by contrast, arrives on a known date. A credit line can carry both and be paid down over a few months.
Illustration only, invented figures: a Georgetown, KY therapy clinic draws $6,350 on a line of credit for a $2,950 table motor repair and a $3,400 scheduling software renewal, at a 13.85% annual rate, paid down in three monthly steps.
| Month | Starting balance | Month's interest | Amount paid down |
|---|---|---|---|
| 1 | $6,350.00 | $73.29 | $2,116.67 |
| 2 | $4,233.33 | $48.86 | $2,116.67 |
| 3 | $2,116.66 | $24.43 | $2,116.66 |
| Total | $146.58 | $6,350.00 |
The invented draw costs $146.58 of interest in all. A repair bill is an operating cost, which is why a short draw fits it better than a loan that runs for years.
Offices of other health practitioners in Scott County, KY: the counts behind chiropractic practice loans
County Business Patterns files chiropractors, physical and occupational therapists, optometrists and other practitioners under one code, offices of other health practitioners (NAICS 6213). In Scott County, KY the code covered 34 offices with a payroll in 2023; between them they employed 171 people, and in 25 of the 34 (73.5%) the staff numbered fewer than five.
Their combined 2023 payroll was $6.9 million across all 34 offices (CBP 2023, NAICS 6213). No sector in the county had more employer establishments than health care and social assistance, at 148, and these practitioner offices are one slice of it.
ZIP Code Business Patterns places 34 such offices at a ZIP 40324 address for 2023.
For 2024, Nonemployer Statistics recorded 98 practitioner offices in Scott County, KY run without paid employees, with $4.2 million in receipts.
Dental and physician offices and child day care providers share this group on the industries overview, and the Georgetown, KY page lists the street address of the office.
By Cloverland Credit ยท Updated
