BANKING SOLUTIONS TO BROADEN BUSINESS PERSPECTIVES
WE TRANSFORM BUSINESS NEEDS INTO SOLUTIONS THAT GROW WITH YOUR BUSINESS.
The Bancorp has decades of multi-industry banking experience and a technological focus to help our clients achieve sustainable business growth.
AGILE, SECURE & SCALABLE FINTECH SOLUTIONS
Our partners benefit from our financial strength and industry expertise.
The Bancorp deploys custom payments services merging cutting-edge technology with superior regulatory and compliance infrastructure.
Accessing new avenues to leverage existing wealth
Through strategic alliances with nonbank wealth management platforms, we enable independent and registered financial professionals to expand their service offering to better compete with larger and more fully-resourced institutions.
A one-of-a-kind offering to serve you better
The Bancorp Commercial Lending business offers a distinctive set of services which reflect our commitment to meeting your evolving business needs.
Whether you need a small business loan or leasing services for a fleet of vehicles, we can provide you the expertise and financial traction to keep you on the road to success.
COMPETITIVE BRIDGE FINANCING SOLUTIONS
THE BANCORP PROVIDES BORROWERS WITH CERTAINTY OF EXECUTION FOR NON-RECOURSE COMMERCIAL REAL ESTATE BRIDGE LOANS NATIONWIDE.
As a direct lender, we provide a streamlined, single source of origination, funding, and asset management for loan brokers and their clients seeking to purchase and reposition multifamily and other commercial real estate properties.
WE TAILOR BANKING SOLUTIONS TO YOUR BUSINESS NEEDS.
Across our Fintech Solutions, Institutional Banking and Commercial Lending business lines, The Bancorp offers a wide range of products and services that can transform your business needs into long-term, technology-enabled solutions.
GAIN INSIGHT FROM INDUSTRY EXPERTS
OUR FINETICS® BLOG OFFERS TIMELY COMMENTARY ON THE LATEST BANKING TRENDS.
Tap into the mindset of The Bancorp solution leaders as they discuss what’s new in the banking industry and how The Bancorp can help you stay ahead of the curve.
EXPERT COMMENTARY AT YOUR FINGERTIPS
THE BANCORP OFFERS A VISIONARY APPROACH TO BANKING BACKED BY DECADES OF INDUSTRY EXPERTISE.
The Bancorp solution leaders are financial industry experts conversant with the latest banking trends and the next generation of business banking solutions.
THE BANCORP DESIGNS THE FUTURE OF BANKING ONE CLIENT AT A TIME.
We’re not a startup, but we think that way. The Bancorp approaches each client’s needs as an opportunity to develop the next generation of banking products and services.
STRENGTHENING OUR VISIONARY FOUNDATION
THE BANCORP LEADERSHIP FOSTERS AN INVENTIVE APPROACH TOWARD BANKING.
The Bancorp Leadership Team sets the compass for exploring new perspectives that drive continuous organizational growth.
NAVIGATE A REWARDING CAREER AT THE BANCORP
WE’RE INVESTED IN YOUR DEVELOPMENT AND GROWTH.
The Bancorp offers a dynamic work environment and ongoing opportunities to broaden your knowledge and enrich your skill sets.
COMMITTED TO DIVERSITY & INCLUSION
THE BANCORP VALUES THE DIFFERENCES THAT MAKE US UNIQUE.
We cultivate an environment where all cultures, ideas and perspectives are equally acknowledged and respected.
Values-Based Business Practices
ESG principles are integral to The Bancorp’s business strategy.
Our Environmental, Social, and Governance (“ESG”) initiatives guide our business practices to create positive change for our local communities, the environment, our clients and customers, and the banking industry as a whole.
Create Your Own Story Expanding a Medical Practice with an IBLOC
The Bancorp Institutional Banking
Opening a medical practice is a significant feat, and managing its success is just as crucial as providing its patients with a superior level of care.
Building a thriving business will have many plot points along the journey. To help the story play out as intended, having the proper financing to maintain a business and additional access to funds to help it grow should be a priority for all small business owners. When considering medical practices specifically, there is an expectation that funding will go toward providing patients with high-quality care by investing in state-of-the-art facilities and providing the proper services to help meet their health needs.
Moving the Plot Forward for Your Practice
Medical care is constantly evolving, and with it, so are patient expectations. To keep on top of demand, owners of a successful practice may consider buying additional equipment, updating current facilities, or possibly acquiring another practice. Though there are several funding options available to medical practice owners that will allow them to secure the capital needed to run a top-of-the-line facility, some of those loans come with limitations to where the money can be spent. For business owners looking for flexibility in where they can allocate funds, an Insurance-Backed Line of Credit (IBLOC) could be a perfect solution.
For business owners with whole life insurance policies, there is an opportunity to access the cash value of an eligible policy by using an IBLOC from The Bancorp.1-3 This can be an advantage for business owners because the IBLOC allows for an interest-only, revolving credit line that has fewer limitations than other options for funding.1-3 With an IBLOC, the credit limit is based on up to 95% of the cash value of an eligible policy with no application fee, closing costs, or charge for the portion of the line not in use.4 By working with The Bancorp Institutional Banking, business owners are offered a simple application and approval process, which can be a welcome feature when applying for business funding.
Recently, The Bancorp Institutional Banking was contacted by a financial professional on behalf of their client, the owner of a growing dental practice. The business owner was hoping to expand the practice and was considering several options for funding. With multiple plans to expand the facility, the owner was looking for flexibility in the loan.
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Improving Equipment Inventory with an IBLOC
After reviewing terms from other lenders, the business owner decided that an IBLOC was the choice that offered the most flexibility to align with their plans for the dental practice. With an IBLOC, the business owner was not locked into a loan term and secured a better rate than other offers. Additionally, features of the IBLOC, like interest-only payments and no prepayment penalties, made it a more attractive loan to the owner.
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Improving Equipment Inventory with an IBLOC
With an IBLOC, the business owner was able to secure a line of credit of over $1 million and used approximately $500,000 to purchase new equipment for the practice and pay for other business-related expenses.5
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When business owners feel like it’s time to invest in their business, an IBLOC could be the right source of funding. With fewer restrictions than other loans, capital can be used for business expenses like purchasing inventory, payroll, and buying additional real estate. By partnering with The Bancorp Institutional Banking, owners of a medical practice can expect to work with a supportive lender focused on helping their practice continue its story.
Opinions, findings, or perspectives contained in this blog are those of the authors. All references to “The Bancorp” refer to The Bancorp Bank, N.A., the wholly-owned subsidiary of The Bancorp, Inc.
1. Policy must be in effect for at least 12 months at the time of credit application. Line of credit is contingent on life insurance policy remaining in good standing. The insurance policy owner must be the borrower. Insurance policy must be issued by one of the following approved insurance providers to be eligible as IBLOC collateral: Guardian, MassMutual, Northwestern Mutual, NY Life, John Hancock, Penn Mutual, Ameritas Life Insurance Corp, Security Mutual Life. Approved insurance providers subject to change.
2. No credit line increase is permitted within one-hundred eighty (180) calendar days of the loan origination date. Maximum number of credit line increases is two (2) within a twelve-month period. Requests must be made in writing using the Change in Terms Form.
3. Subject to credit approval and underwriting.
4. The Bancorp Bank, N.A. does not charge an application fee. State, local, and/or third-party fees may apply in some states.
5. Each client’s case is unique and individual outcomes may vary.
Collateral-based borrowing may not be suitable for everyone. Consult a financial advisor about any associated risks. Consult a tax advisor for tax-related matters and an attorney for legal matters. The Bancorp Bank, N.A. does not provide financial, tax, or legal advice. Rates, terms, and conditions of loan products are subject to change without notice.
IBLOC
Insurance-Backed Line of Credit
Institutional Banking
Lending
Wealth Management
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Create Your Own Story Expanding a Medical Practice with an IBLOC
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