Have Loan Financing Questions? Hippo Lending Has Your Answers.
Looking for answers? Explore some of the most common questions our customers have asked. If you don’t see what you’re looking for, we’re here to help. Contact us directly.
Who is eligible to apply for a loan with Hippo Lending?
All licensed and currently practicing healthcare professionals are eligible to apply. We work with physicians, dentists, pharmacists, veterinarians, and more.
Do I have to own my own medical practice?
We do not require you to own your own practice. Our funds can be used for a variety of commercial purposes, including buying into a practice or starting a new business venture.
I was recently turned down by a bank. Am I still eligible to apply?
Absolutely! Hippo Lending is not a bank. We have unique approval models tailored specifically to healthcare professionals. Traditional lenders tend to have a more rigid underwriting model that doesn’t account for the nuances and unique opportunities associated with the healthcare industry.
How do I apply?
Applying is fast and simple. You can complete an application online in under 20 minutes. We’ll take it from there!
What information will I need to provide?
In our application, you will be asked to provide basic personal, professional, and financial information as well as a copy of your driver’s license and your most recent pay stub.
How long does it take to be approved?
After you submit your application, we will review it and confirm your loan terms with you in just a few days. Funding can occur in as little as 10 days from the time you submit your application.
Do you check my credit?
Yes. As part of the application process, we will pull your credit report but only after we get your consent.
Are there any application fees or up-front costs?
No. The only fees are closing costs and the interest expense over the life of the loan. Closing costs will be paid at the time of funding but will not be charged if you decide not to accept your loan offer.
What is the minimum and maximum loan amounts offered?
Our loans range from $15,000 to $500,000.
What loan terms do you offer?
We offer extended terms up to 10 years.
Is a personal guarantee required for a Hippo loan?
Yes. As the principal, we require a personal guarantee.
How do loan payments work?
Hippo Lending makes payments simple by automatically withdrawing your payment each month on your due date via an ACH from your bank account. If you ever need to change your account information, we have a secure and convenient online portal where you can do so at any time.
Why the name Hippo?
With a subtle nod to the Hippocratic Oath, Hippo Lending represents the convergence of medicine and finance. While we may not be saving lives, the underlying principles of the Hippocratic Oath closely align with our values: a commitment to service and treating our customers as people, not just a loan. We ensure privacy and always act from a position of unity and humility.
Who founded the company?
Our President & CEO, John McCauley, founded Hippo Lending when he recognized the challenges healthcare professionals faced when trying to access capital. While traditional lenders are an option for some, the process is usually long and arduous. John knew there was a better way, and with his more than 25 years of credit and underwriting experience, he set out to find a solution. Fast-forward to today, and you can see that vision has come to life in the form of Hippo Lending. Our platform and our dedicated team work hard every day to provide you with a better customer experience and quicker access to funding.
Is Hippo Lending a direct lender?
No. Hippo Lending is an originator and servicer of commercial loans to medical professionals. You will always be interfacing with Hippo Lending throughout the life of your loan, never a third party.