Southwick Loans in Statesville, NC helps Iredell County chiropractors, physical therapists, optometrists and other practitioners request equipment financing, working capital and lines of credit from funding partners. County Business Patterns counted 126 offices of other health practitioners in the county in 2023, 64.3% with fewer than five employees. This page covers their equipment and cash cycles.
| Other health practitioner offices, Iredell County, NC | 126 (CBP 2023, NAICS 6213) |
|---|---|
| Portion with fewer than five on payroll | 64.3% (CBP 2023) |
| Employees at those offices | 852 (CBP 2023) |
| Offices with a ZIP 28677 address | 18 (ZBP 2023) |
| Practitioners without employees | 362 (NES 2024) |
| Annual payroll | About $41.4 million (CBP 2023) |
Who falls in this group
The Census category 'offices of other health practitioners' covers chiropractors, physical, occupational and speech therapists, optometrists, podiatrists and similar independent practices. 64.3% of the 126 county employers in 2023 had fewer than five employees. Separately, Nonemployer Statistics counted 362 practitioners working without employees in 2024.
Chiropractic business loans: tables, decompression and X-ray
A chiropractic office's core investments are adjusting tables, decompression or traction systems, therapy modalities and, in some offices, digital X-ray. Those are classic equipment financing purchases: identifiable, durable and tied to billable services. Business loans for a chiropractic practice also come up for a second location or a move to a larger suite.
For a step-by-step look at funding a chiropractic office, including the cash-pay versus insurance question, see the chiropractic practice post.
Physical therapy business loans
Physical therapy clinics need space more than any single machine: treatment tables, parallel bars, exercise equipment and sometimes a pool or gym area. Business loans for a physical therapy practice often combine equipment financing for the gear with a term loan for the build-out. Therapy clinics rely heavily on insurance and referral volume, so their reimbursement timing looks more like a physician office than a cash-pay chiropractor.
Optometry practice loans and optometry equipment financing
Optometrists carry two kinds of cost: diagnostic equipment (retinal cameras, OCT, phoropters, slit lamps) and an optical dispensary full of frames. The equipment goes through optometry equipment financing; the frame stock behaves like retail inventory and can be funded with a line of credit or inventory financing. Optometry business loans for buying an existing practice are usually term loans.
Cash-pay and insurance mix
A practice paid mostly at the visit has deposits that arrive as the visits happen, and partners can read those in bank statements. A practice billing insurers carries receivables. Many offices are a mix, and showing that mix clearly, for example as monthly totals by payer type, helps a partner understand the cash cycle.
Illustrative arithmetic. A two-practitioner office collecting most payments at the visit but billing insurers for a fifth of its revenue, with claims paying in about a month, carries roughly that month's insurance billing as a receivable at any time. The figures are invented; the method is what partners apply to your own numbers.
Iredell County, NC practitioner offices in Census counts
County Business Patterns counted 126 offices of other health practitioners in Iredell County in 2023, with 852 employees and about $41.4 million in annual payroll; ZIP 28677 held 18. Physicians and dentists are counted separately; see medical practices and dental practices. County totals are on the Statesville, NC data page.
What partners review from practitioners
- Bank statements showing visit and insurance deposits
- Equipment quotes, including installation and training
- An accounts receivable report if insurance is significant
- The lease and any build-out estimate
- For practice purchases, the seller's financial records
By Southwick Loans · Updated
