Simple Select Patient Finance Case Study

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Simple Select Patient Finance

This company is not offering a credit card like the other three discussed earlier. They are offering an installment loan. The difference is that unlike a credit card which can be used multiple times for small purchases till you exhaust your spending limit, the installment loan is for a single purchase.

So, you will need to do some homework and find out the exact amount of money that you will need for the treatment before applying for the loan. The money borrowed can only be used at eligible dental care clinics. They do not charge processing and documentation fees nor will you incur a fine for prepayment.

Application and approval: Inquire if the clinic you are visiting offers Simple Select Patient Finance. If they do, you can fill out the application online at the provider's office and offer
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However, not all dental practices that work with Simple Select offer the 0% financing option and if your provider does not offer this solution, you cannot circumvent the practice and approach Simple Select on your own.

American Healthcare Lending

Also known as Prosper Healthcare Lending after the takeover, this is another company that offers installment loans with fixed interest rates. The company is a peer to peer lender which means they bring together borrowers and lenders and make their profit through difference in the interest offered to the lenders and taken from the borrowers. Unlike Simple Select, they do not offer 0% plans. However, like the industry norm, they don't charge for processing, documentation or prepayment.

Application and approval: You will need to apply through a provider that works with American Healthcare. The approval process is tackled quickly and rarely takes more than 2 minutes. However, based on your credit history, the provider may chose to only offer you a certain amount and may even choose shorter repayment
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