PRN Personal Loans

Fair, affordable personal loans for doctors and trainees to use as needed. Fixed rates that vary with term – as low as 6.75% APR.1

Learn more about PRN
personal loans for:

M4 Medical Students
Residents & Fellows
Attendings
fast funding icon
Funding in as little as 24 Hours
No Cosigner
100% Digital
No Hidden Fees
fast funding icon
Funding in as Little as 24 Hours
No Cosigner
100% Digital
No Hidden Fees
Wherever you are in your career, you need money. That’s true whether you need a personal loan to interview, relocate for your next position, or start your own practice.
Whatever you need, Panacea Financial helps you get loans fast.
We know our borrowers extremely well, and more importantly, we know you’re more than a credit score. Furthermore, we trust you – your loans will not need a cosigner, ever.
The result?

Once we’ve received your complete application and approved the loan, we can distribute funds in as little as 24 hours.

4th Year Medical Students

  • No payments for 1 year
  • Reduced payments during training*
  • No cosigner required
  • No minimum credit score
  • No fees
  • We complete a soft credit check that won’t impact your credit score
* View details and requirements
Apply Today
Borrow Up to $15,000
5-Year PRN Loan

7.50% fixed APR1

7-Year PRN Loan
8.25% fixed APR1
See example scenario

Residents & Fellows

  • Reduced interest-only payments during years 1 & 2 of loan*
  • No cosigner required
  • No minimum credit score
  • No fees
  • We complete a soft credit check that won’t impact your credit score
* View details and requirements
Apply Today
Borrow Up to $30,000
3-Year PRN Loan

6.75% fixed APR1 

5-Year PRN Loan

7.50% fixed APR1

7-Year PRN Loan
8.25% fixed APR1
See example scenario

Attendings

  • Interest-only payments during first 6 months of loan*
  • No cosigner required
  • No minimum credit score
  • No fees
  • We complete a soft credit check that won’t impact your credit score
* View details and requirements
Apply Today
Borrow Up to $75,000
3-Year PRN Loan

6.75% fixed APR1 

5-Year PRN Loan

7.50% fixed APR1

7-Year PRN Loan
8.25% fixed APR1
See example scenario
  • 1. All APRs assume a 0.50% discount to auto-pay from a Panacea Checking account. We offer a 0.25% discount to auto-pay from a non-Panacea checking account.
  • 2. Adverse Credit Event: accounts with a total outstanding balance greater than $2,085 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report.
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Here’s to better financial solutions for MDs & DOs

Get Started Today
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    Little Rock, AR 72205
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Product Details

To be transparent about the maximum monthly payments a borrower could make, the below scenarios assume the borrower takes the maximum amount available ($15,000), and receives no auto-pay discounts.

  • For a 5-year loan at 7.50% APR, there are no monthly payments during year 1, then during the “reduced monthly payments” period your payment will be $150 for years 2 and 3. In years 4 and 5, the loan will fully amortize with a monthly payment of $678.41.
  • For a 7-year loan at 8.25% APR, there are no monthly payments during year 1, then during the “reduced monthly payments” period your payment will be $164.06 for years 2 and 3. In years 4, 5, 6, and 7, the loan will fully amortize with a monthly payment of $371.50.
*Interest only payments may vary depending on the number of days in the month of loan origination

Requirements (completed digitally)

  • Copy of most recent Transcript, and
  • Verified medical school email address, and
  • Picture of medical school or hospital ID badge, and
  • No adverse credit event2
  • Minimum loan amount: $1,000; maximum: $15,000
  • US citizenship

Example Scenario: Fourth-Year Medical Student

  • $15,000 loan (max amount)
  • 7-year term at 8.25% APR1
  • No payments the first 12 months.
  • $137.59 interest-only monthly payments in months 13-48.
  • $471.81 monthly payments in months 49-84.

Product Details

To be transparent about the maximum monthly payments a borrower could make, the below scenarios assume the borrower takes the maximum amount available ($30,000), and receives no auto-pay discounts.

  • For a 3-year loan at 6.75% APR, your monthly interest-only payments in years 1 and 2 would be $181.25. In year 3, the loan will fully amortize with a monthly payment of $2,599.26.
  • For a 5-year loan at 7.50% APR, your monthly interest-only payments in years 1, 2, and 3 would be $200. In years 4 and 5, the loan will fully amortize with a monthly payment of $1,356.82.
  • For a 7-year loan at 8.25% APR, your monthly interest-only payments in years 1, 2, 3, and 4 would be $218.75. In years 5, 6, and 7, the loan will fully amortize with a monthly payment of $950.51.
*Interest only payments may vary depending on the number of days in the month of loan origination

Requirements (completed digitally)

  • Most recent pay stub or if you have not been paid yet your Medical School Diploma, and
  • Copy of residency / fellowship contract, and
  • Verified hospital or residency / fellowship program email address, and
  • Picture of ID badge, and
  • Active medical / trainee license in good standing, and
  • No adverse credit event2
  • Minimum loan amount: $1,000; maximum $30,000
  • US citizenship

Example Scenario: Resident / Fellow

  • $30,000 loan (max amount)
  • 5-year term at 7.50% APR1
  • Interest only payments ranging from $172.60 to $191.10 for the first 36 months
  • Monthly payments of $1,350.05 from months 37-59
  • Monthly payment of $1,349.88 on month 60

Product Details

To be transparent about the maximum monthly payments a borrower could make, the below scenarios assume the borrower takes the maximum amount available ($75,000), and receives no auto-pay discounts.

  • For a 3-year loan at 6.75% APR, your monthly interest-only payments for the first six months would be $453.13. For the remaining 30 months, the loan will fully amortize with a monthly payment of $2,740.93.
  • For a 5-year loan at 7.50% APR, your monthly interest-only payments for the first six months would be $500.00. For the remaining 54 months, the loan will fully amortize with a monthly payment of $1,658.43.
  • For a 7-year loan at 8.25% APR, your monthly interest-only payments for the first six months would be $546.88. For the remaining 78 months, the loan will fully amortize with a monthly payment of $1,264.17.
*Interest only payments may vary depending on the number of days in the month of loan origination

Requirements (completed digitally)

  • Recent pay stub, or if you have not been paid yet, your residency / fellowship graduation certificate, and
  • Copy of contract, and
  • W2 or equivalent, and
  • Verified hospital / private practice email address, and
  • Active medical license in good standing, and
  • No adverse credit event2
  • Minimum loan amount: $1,000; maximum: $75,000
  • For loan amounts over $30,000, borrower must have >720 credit score
  • US citizenship

Example Scenario: Attending

  • $75,000 loan (max amount)
  • 7-year term at 8.25% APR1
  • $525.51 interest-only monthly payments for first 6 months.
  • $1,245.73 monthly payments for final 54 months.