PERSONAL LOANS

For Physicians. Made Easy.

Get up to $50,000 at rates less than half the average credit card rate!

No hard credit check required.

Quick
Funding

No
Cosigner

Reduced
Payments

No Prepayment
Penalties

How Can A PRN Personal Loan Help?

We get it. We are doctors too. And we know that doctors deserve better than being forced to use high-interest debt. With rates less than half the average credit card rate and quick funding, a PRN Personal Loan for Physicians can help you with:

Home Improvements
Credit Card Consolidation
Unexpected Life Events

Relocation

No hard credit check required.

Home Improvements
Credit Card Consolidation
Unexpected Life Events

Relocation

Dr. T

Tennessee – Internal Medicine

I used Panacea’s PRN Loan to pay off my credit cards and help prepare for the birth of our baby. My credit score increased from 662 to 746 after paying off all of my credit cards after just 2 months.

Get To What Matters Faster & Easier

4th Year Medical & Podiatry Students

  • No payments for 1 year
  • Reduced payments during training²
  • No cosigner required
  • No prepayment penalty
  • Perfect for Match fees, interviews, or moving costs!

Borrow up to:

$10,000

Residents & Fellows

  • Reduced interest-only payments while in training ³
  • No cosigner required
  • No prepayment penalty
  • Perfect for board exams, career transitions, or life events!

Borrow up to:

$20,000

Attendings

  • Interest-only payments during first 6 months of loan⁴
  • No cosigner required
  • No prepayment penalty
  • Perfect for moving, career transitions,  interruptions in practice!

Borrow up to:

$50,000

No hard credit check required.

See How Much You Can Save

Using a lower-rate personal loan can save you thousands when compared to a credit card. Don’t take our word for it. Run the numbers yourself with our Personal Loan Vs. Credit Card Calculator.

No hard credit check required.

FAQs

What can I use a PRN Loan for?

A PRN Personal Loan* is exactly what it means — your money, as needed. Our PRN Loan can be used for whatever personal expenses may arise. We designed this personal loan product with the mindset that it can help pay for, but not be limited to, interviews, relocation, board examination fees, or to consolidate high interest rate credit card debt.

* PRN Personal Loans cannot be used to pay existing or future educational debt

Why don’t I need a cosigner for a PRN Loan?

We don’t require a cosigner for a PRN Personal Loan because we know you are trustworthy and deserve to be treated like an adult. Traditional banks don’t understand the financial lifecycle of doctors, which is why they can ask for co-signers in order to get access to their loans.

Who’s eligible for PRN Personal Loans?

To be eligible for a PRN Loan, you must be U.S. citizen or permanent resident and one of the following:

  • A 4th year student (In-School PRN) in an accredited U.S. based medical, dental, or veterinary school OR
  • A resident, fellow, or graduate student (In-Training PRN) after graduation with a MD, DO, DDS, DMD, DVM, VMD, or DPM degree OR
  • An independent practicing physician, dentist, or veterinarian (In-Practice PRN) with an active healthcare license.
When does my repayment start?

If you are not a student, your first payment will be due 30 days after receiving your loan. You can tell us what day of the month you’d like to make payments on. Every PRN Personal Loan comes with a period of low or no payments.

​​Can I apply for a PRN Loan if I already have a personal loan?

Yes! We set maximum borrower amounts based on your current status: In-School, In-Training, or In-Practice. You can borrow up to the maximum amount for your status. For students that’s $10,000, for residents/trainees, it’s $20,000, and for practicing doctors it’s $50,000. If you take out less than this amount, and find you need more later, your Primary Care Banker will help you re-apply.

No hard credit check required.

Articles & Resources

Explore our collection of advice and tools to help doctors better position themselves for career and financial success.

Details & Requirements

  • Copy of most recent Transcript, and
  • Picture of medical / podiatry school or hospital ID badge, and
  • No adverse credit events⁵
  • Minimum loan amount: $1,000; maximum: $10,000
  • US citizenship or permanent residency
  • Attending accredited US-based allopathic or osteopathic medical school, or podiatry school

Details & Requirements

  • Most recent pay stub, or if you have not been paid yet your Medical or Podiatry School Diploma, and
  • Copy of residency / fellowship contract, and
  • Active medical or podiatry trainee license in good standing, and
  • No adverse credit event⁵
  • Minimum loan amount: $1,000; maximum $20,000
  • US citizenship or permanent residency

Details & Requirements

  • Proof of income as a physician
  • W2 or 1099 or Personal Tax Returns or equivalent
  • Active medical or podiatry license in good standing
  • No adverse credit events⁵
  • Minimum loan amount: $1,000; maximum: $50,000
  • US citizenship or permanent residency

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