Panacea Financial, a division of Primis Bank, deposit products:
FDIC-Insured – Backed by the full faith and credit of the U.S. Government

You are pre-approved for a PERSONAL LOAN up to:

$30,000

You are pre-approved for a PERSONAL LOAN up to:

$30,000

Funding In As
Little As 24 Hours

No
Cosigner

Reduced
Payments

No Hidden
Fees

Here Is How We Can Help At Every Step.

Built for doctors, by doctors because we wish we had the same offers when we were on our path. Borrow up to $30,000 with fixed rates as low as 9.50% APR (including all discounts).

Shortest Term, Lowest Rate.

In School

4th year medical, dental, and veterinary students
No payments for 1 year
Reduced payments in residency
No cosigner required
No minimum credit score
No fees

Borrow up to:

$10,000

In Training

For residents & fellows
Reduced interest-only payments during years 1 & 2 of loan
No cosigner required
No minimum credit score
No fees

Borrow up to:

$20,000

In Practice

For doctors in practice
Interest-only payments during first 6 months of loan
No cosigner required
No minimum credit score
No fees

Borrow up to:

$30,000

About

External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by Panacea Financial. Links are provided for informational purposes and should not be viewed as an endorsement

Fine Print

1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. Quoted APR assumes the following: For the In-Practice PRN Loan at 10.59% APR – $75,000 principal, with 10.49% interest rate, $100 origination fee, and 3-year term; For the In-Training PRN Loan at 13.19% APR – $30,000 principal, 13.00% interest rate, $100 origination fee, and 3-year term; For the In-School PRN Loan at 13.46% APR – $15,000 principal, 14.00% interest rate, $100 origination fee, and 5-year term. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account. Rates are current as of 5/5/23 and are subject to change without notice. Not all applicants qualify for the lowest rate. To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 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; consumer credit counseling within five years preceding the date of the credit report.

6. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

PRN Loan Example Scenario Disclosure –

In-School – 5 year term, 13.46% fixed APR, $15,000 loan. APR includes $100 origination fee. Repayment is no monthly payments in year 1. Interest only payments of $262.74 in years 2-3. Fixed monthly payments of $727.09 in years 4-5 (11 payments in year 5) , one final payment of $727.13.
In-School – 7 year term, 14.00% fixed APR, $15,000 loan. APR includes $100 origination fee. Repayment is no monthly payments in year 1. Interest only payments of $272.13 in years 2-3. Fixed monthly payments of $417.72 in years 4-7 (11 payments in year 7) , one final payment of $417.95.
In-Training/Resident/Fellow – 3 year term, 13.67% fixed APR, $30,000 loan. APR includes $100 origination fee. Repayment is interest only monthly payments of $311.72 in years 1-2. Fixed monthly payments of $2,695.65 in year 3 for 11 months starting in year 3. 1 final fixed payment of $2695.69.
In-Training/Resident/Fellow – 5 year term, 14.12% fixed APR, $30,000 loan. APR includes $100 origination fee. Repayment is interest only monthly payments varying from $323.27 to $357.90 in years 1-3. Fixed monthly payments of $1,445.39 in years 4 -5 (11 payments year 5), one final fixed payment of $1445.31.
In-Training/Resident/Fellow – 7 year term, 14.60% fixed APR, $30,000 loan. APR includes $100 origination fee. Repayment is interest only monthly payments of $334.81 to $370.68 in years 1-4. Fixed monthly payments of $1,036.45 in years 5-7 (11 payments in year 7), one final payment of $1036.66.
In-Practice/Attending – 3 year term, 12.60% fixed APR, $75,000 loan. APR includes $100 origination fee. Repayment is interest-only monthly payments of $771.58 to $797.29 for first 6 months. Fixed monthly payments of $2,927.23 for 29 months, one final payment of $2927.38.
In-Practice/Attending – 5 year term, 14.07% fixed APR, $75,000 loan. APR includes $100 origination fee. Repayment is interest-only monthly payments of $864.16 to $892.97 for first 6 months. Fixed monthly payments of $1,882.10 for 53 months, one final payment of $1881.73.
In-Practice/Attending – 7 year term, 14.56% fixed APR, $75,000 loan. APR includes $100 origination fee. Repayment is interest-only monthly payments of $895.03 to $924.86 for first 6 months. Fixed monthly payments of $1,492.10 for 77 months, one final payment of $1491.60.