Healthcare practice financing in Tennessee

Each value carries the Tennessee authority that published it. Everything else is a summary of official Tennessee material, and a specific structure still needs a lawyer's read. Verified

Source: SBA 7(a) and 504 approval files, fiscal year 2025. Verified

Knoxville leads Tennessee with $8.4 million across 5 approvals, $1.7 million each, which is the comparable set an appraiser reaches for on a purchase there. Verified

Absent categories are ones CMS does not certify in Tennessee. Where a dataset is still to be pulled, the table says so and nothing is inferred in its place. Directional

Shelby leads Tennessee with 49 certified providers, ahead of Davidson at 18. Where certification clusters, credit files move on precedent; away from the cluster they move on documents. Verified

Across the tracked fields Tennessee holds 14,443 establishments, the deepest being physician and specialty offices. Only 0.6 approvals per 100 establishments show up in the loan file, so most capital here is not SBA capital. Verified

2,159 establishments sit in Davidson, more than any other Tennessee county on file. A lender pricing an acquisition looks for comparable sales nearby, and a thin county means the appraisal leans on a wider radius. Verified

72,200 people work as registered nurses in Tennessee, at a mean of $81,500. Underwriters test a staffing forecast against the local mean before they credit the revenue it is supposed to produce. Verified

Federal shortage designations total 2,992 in Tennessee, concentrated in Shelby with 1,314. Shortage status reads on a credit file as demand evidence, not as a subsidy, and it supports the revenue case for a second site. Verified

• Med spa and personal care: $530,117 average across 24 Tennessee approvals worth $12.7 million, so a request in that range reads as routine rather than exceptional.
• Dental offices: $12.1 million over 9 approvals in Tennessee, $1.3 million each, which sets what a comparable request can be documented against.
• Residential care and treatment: $3.6 million on average, 2 approvals, $7.3 million in total. Match $3.6 million and the timeline is ordinary; ask well above it and the Tennessee diligence list lengthens.
• Veterinary practices: $4.3 million across 6 approvals, averaging $716,017. Above $716,017 the file needs collateral or trading history that most of those 6 Tennessee borrowers did not have to show.
• Chiropractic offices: $359,350 average across 10 Tennessee approvals worth $3.6 million, so a request in that range reads as routine rather than exceptional.
• Other outpatient care centers: 3 Tennessee approvals totaling $3.6 million, $1.2 million each. With only 3 Tennessee approvals behind $3.6 million, the underwriter reads documents rather than precedent.
• Physician and specialty offices: $1.9 million over 8 approvals in Tennessee, $241,175 each, which sets what a comparable request can be documented against.
• Pharmacies: 4 Tennessee approvals totaling $1.8 million, $439,000 each. With only 4 Tennessee approvals behind $1.8 million, the underwriter reads documents rather than precedent.
• Home health and hospice: average approval $300,000 over 3 closings worth $900,000. At $300,000 against $900,000 of state volume, that is an equipment or fit-out request more often than an acquisition.

• 24 of the Tennessee approvals went to med spa and personal care, 25 percent of the state's healthcare dollars at $530,117 each. A request in that range reads as ordinary to a credit committee, which shortens the questions asked before terms are quoted.
• Dental offices account for 9 approvals and $12.1 million in Tennessee, ahead of residential care and treatment. Fields with regular volume have living comparables in the state, and that is what keeps an offer from being priced defensively.
• On the certified side, Tennessee carries 1,464 medical equipment suppliers. That number decides whether growth capital here funds an acquisition of an existing license or a slower application, and the two look nothing alike on a cash-flow schedule.
• The 504 column holds 3 Tennessee approvals. An owner planning the same move in Tennessee can point at closed local paper rather than a hypothetical.

• 85 SBA approvals to Tennessee healthcare borrowers in FY2025¹
• $50.7 million approved, averaging $596,694 per loan¹
• 1,979 CMS-certified providers across 5 categories²

• Healthcare AR line and payroll funding
• Partner buy-in, buy-out, and refinance
• Commercial real estate, owner-occupied
• Expansion, relocation, and build-out
• Medical receivables factoring
• SBA 7(a) and 504
• Working capital term loan

• Tennessee Board of Medical Examiners, licensure and ownership questions for physicians
• Tennessee Board of Dentistry, licensure and ownership questions for dentists
• Tennessee has no verified state repayment scheme, state lending program, or financing disclosure regulator on file here

Also covered in Tennessee: Dickson, Hendersonville, Bartlett, Bristol, Lawrenceburg, Greeneville, Lewisburg, Athens, Maryville, Winchester, Morristown, Cleveland, Jackson, Oak Ridge, Elizabethton, Brentwood, Millington, Springfield, Sevierville, Spring Hill, Kingsport, Portland, Fairview, Arlington, Collierville, White House, Germantown, Mount Juliet

• All states covered
• Every financing program
• Virginia healthcare practice financing, for a side-by-side on rules and loan volume
• Wyoming healthcare practice financing, for a side-by-side on rules and loan volume
• Arkansas healthcare practice financing, for a side-by-side on rules and loan volume
• Hospice and palliative, and the revenue mix a funder checks first
• Behavioral and mental health group practices, with the capital events that field actually runs
• Primary care and family medicine, including what collections history is asked for
• NEMT and ambulance, read on the terms that field is underwritten on
• Dental labs, and where the collateral usually comes from
• Dental specialties, and where the collateral usually comes from

1. 1SBA 7(a) and 504 approvals, FY2025
2. 2CMS provider certification files
3. 3NPPES provider registry
4. 4County Business Patterns 2022
5. 5BLS Occupational Employment and Wage Statistics, OEWS 2025
6. 6HRSA health professional shortage area file
7. 7Tennessee corporate practice rules
8. 8Tennessee certificate of need
9. 9Tennessee Board of Medical Examiners
10. 10Tennessee Board of Dentistry