How It Works

Patient Financing - How Does it Work ?

It's Fast and Easy to Apply!

Credit Medical specializes in providing loans for elective medical procedures.

Here are some of the advantages of financing through us:

  • Fast and easy credit approval
  • No down payment or collateral
  • Assured confidentiality
  • Competitive interest rates
  • Fixed interest rate throughout repayment term
  • Loans are open and can be paid out at anytime
  • Borrow any amount you need ($1,000 minimum)
  • Repayment term of 60 months

The Credit You Deserve

You, or someone you care about, has decided to undergo an elective medical procedure. We know that the cost of this medical procedure is a concern for you. Credit Medical offers you a financial alternative that makes it affordable.

Don't delay anything but the payment!
In most cases, the medical treatment or procedure you've decided on needs to be done now.

We will pay your doctor in full now.
The procedure can be performed without delay. You repay us in affordable monthly payments.

Not just a financial trust. A personal trust.
There is no need to justify your personal medical need to an unsympathetic banker. Confidentiality and understanding are integral parts of Credit Medical's service.

3 Easy Steps

Here is all you have to do...

You can fill out the online application form. It takes only a few minutes to complete it.

You can also apply over the phone by calling our toll-free number: 1-800-270-9290.

We inform you as quickly as possible that your loan has been approved. As long as you have a good credit rating, approval is virtually assured.

Once your loan has been approved, you receive a loan agreement from us. You simply sign it and return it to us along with a photocopy of a void cheque, which we will use for debiting your account.

We then notify your doctor of your financing arrangement by sending him/her a form. Your doctor signs it and returns it to us.

Your doctor will receive full payment through us, up to three weeks in advance of the procedure. We will then debit monthly payments from your chequing account, according to the terms of your loan.


Answers to your questions about Credit Medical financing:

Q. How do I apply?
A. It's easy. Go to the application sectionor call us toll-free at 1-800-270-9290.

Q. Is there a fee to apply?
A. No! There is no cost to you for submitting your application.

Q. What types of medical procedures does Credit Medical's financing cover?
A. Any elective medical procedure or medically related item (ie. braces, prostheses).

Q. What happens after my loan application is submitted?
A. Your application will be considered based on your personal financial information and a credit assessment will be made. Usually, you'll receive an answer within the same business day.

Q. How and when is the payment issued for my procedure?
A. Credit Medical pays your doctor directly. The payment is sent 1 to 3 weeks prior to your procedure date, depending on your medical service providers request.

Q. How do I make the payments towards my loan?
A. Credit Medical debits your personal chequing account in equal and affordable monthly amounts according to the terms of your loan.

Q. Does the interest rate fluctuate/change?
A. No. Our competitive interest rates are fixed throughout the full term of your loan.

Q. Will I need to make a down payment to borrow?
A. No down payment or collateral is necessary. All you will need is an established credit history.

Q. Can I pay out the loan before the end of the term?
A. Yes! Loans are open and can be paid out at anytime without any penalties.

Q. Can I be pre-approved for financing if I haven't chosen a doctor or procedure date?
A. Yes! Credit Medical will pre-approve your financing. For your convenience, we can pre-approve your financing before you see your doctor.

Q. Can I borrow a portion of the procedure cost?
A. Yes! Credit Medical will finance a minimum of $1,000.00 and pay it directly to your medical service provider.

Q. What if my doctor is not registered with Credit Medical Corporation?
A. Just let us know, Credit Medical will contact your medical service provider and inform them of our financing services and provide them with the information they need to register with us. There is no cost to your medical service provider.

Q. Why is Credit Medical better than using my credit card?
A. Financing through Credit Medical does not tie up your credit, making it available for normal spending.

Q. Are there any tax benefits?
A. Yes! The cost of your procedure may qualify as a medical expense on your income tax. Please consult your individual provinces tax credits to see if you are eligible.

Q. Can I apply with a co-signer if I do not have a credit history?
A. Yes, your co-signer's credit history is eligible for approval. They would also be required to assume liability for the loan.

Q. What type of loan does Credit Medical offer?
A. We offer Personal Term Loans with terms ranging from 6 months up to 5 years.

Q. Will Credit Medical require any supporting documents?
A. Yes, once pre-approved we will require a copy of your ID, a copy of your personal VOID cheque and a copy of your personal credit card.