BetterMed Provides No-Interest Loans to Individuals and Small Businesses Affected by Pandemic

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For a limited time, BetterMed is offering zero-interest financing to cover any financial need; terms include no payments for the first year and up to 30 years to repay

TORONTO, May 14, 2020BetterMed, the compassionate-first medical financial assistance company, today announced it is expanding its medical loan services to include comprehensive financial assistance in the wake of the COVID-19 pandemic. For a limited time, individuals can apply for a zero-interest loan guaranteed for the life of the loan, with no payments required for the first year and up to 30 years to repay. BetterMed is well-known for compassionate medical financing, and amid the global pandemic, the company wanted to give individuals and small businesses a practical way to stay on their feet during turbulent financial times. 

“We work with over 12,000 medical practitioners around the world and knew from an early stage that COVID-19 was going to have a devastating impact on the global economy. As shelter in place orders started to take effect we heard increasingly from individuals and businesses alike that they couldn’t sustain the loss of income. That’s when we knew we had an opportunity and a responsibility to try to help,” said AJ Cohen, founder and CEO of BetterMed. “We are not taking any profit from these loans. Instead, we are hoping to do our small part to keep the lifeblood of the economy – families and small businesses – afloat while they navigate changes brought on by the coronavirus epidemic.”

BetterMed guarantees at least $100,000 to individuals who can provide basic requirements, including a $999 application fee, which is folded into the loan, photo ID, proof of income and proof of employment or previous employment if recently laid off due to the pandemic. Small businesses can borrow as much as $2 million USD. BetterMed does not require a credit check. To date, BetterMed has given more than $1.8 billion in COVID-19 loans, over two-thirds of which have gone to businesses ranging from established, independent restaurants and retailers, hair salons, small manufacturing, design agencies and doctor offices as well as technology startups focused on VR, AI and software development.

BetterMed provides medical financing in over 51 countries, including the US, UK and Canada. In the last nine years they have helped over one million individuals receive financial access to pay for medical care and other outstanding debt, and the company provides $750 million a year in Compassionate Grounds financing for those who cannot afford to pay.

The COVID-19 loan program is BetterMed’s effort to be a good global citizen during a challenging time, where government stimulus packages are often not enough to meet the needs of families and small businesses alike. The loan program will continue until BetterMed reaches $5 billion USD in loans or one million loans provided. 

To apply, go to https://bettermed.com/bettermed-loan and use code S7R8.

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About BetterMed

BetterMed is a global financial assistance company that provides holistic medical loans and debt consolidation, as well as additional financial services that include medical tourism and insurance dispute resolution. The company’s compassionate-first lending philosophy is evidenced by a 3.9% lifetime APR on all loans, the lowest interest rate on the market today, and borrowers have at least three years to pay loans back interest-free. BetterMed works with hospitals, doctors and individuals around the world, with a global team comprised of lenders, loan administrators and staff. Since its initial launch in 2011, the company has achieved at least 50% revenue growth year over year. BetterMed, a privately held company, is now available in 51 countries, including the United States, Canada, Mexico, the United Kingdom and Australia.

To learn more about the company or apply for financial assistance services, visit www.bettermed.com or follow us on Twitter @BetterMedloan.

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