Healthcare practice financing in Utah

Every column above shows the official source it came from. This is a reading of published Utah material, not legal advice, and counsel should confirm it against the entity being funded. Verified

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

45 Utah cities carry approvals on this file, led by SALT LAKE CITY at $11.4 million. Geographic concentration is what decides whether an appraisal leans on nearby sales or on income. Verified

Categories CMS does not certify in Utah do not appear. A dataset that has not been read yet is labeled, not filled in. Directional

SALT LAKE leads Utah with 25 certified providers, ahead of WASHINGTON at 17. Concentration decides whether an underwriter has local precedent or has to build the case from the practice's own collections. Verified

Utah shows 8,428 establishments in these fields against 180 approvals, 2.1 per 100. Set beside 8,428 establishments, 180 approvals is a thin slice of how capital actually moves here. Verified

Salt Lake is where the Utah base concentrates, 3,262 establishments deep. Establishment counts set how long an acquisition search runs before a letter of intent is signed at all. Verified

OEWS puts 27,420 registered nurses in Utah at $84,600 mean. Payroll is the biggest line in most Utah practice budgets, so a forecast that ignores the local wage is a forecast a funder discounts. Verified

HRSA designates 1,269 shortages in Utah, led by Salt Lake. Where a county is designated, hiring incentives exist that a recruiter can use, and a ramp schedule stops depending on an assumption. Verified

• Dental offices: 23 Utah approvals totaling $21.0 million, $911,817 each. With only 23 Utah approvals behind $21.0 million, the underwriter reads documents rather than precedent.
• Residential care and treatment: $1.2 million average across 18 Utah approvals worth $20.7 million, so a request in that range reads as routine rather than exceptional.
• Veterinary practices: $3.4 million on average, 4 approvals, $13.4 million in total. Match $3.4 million and the timeline is ordinary; ask well above it and the Utah diligence list lengthens.
• Med spa and personal care: $532,971 on average, 21 approvals, $11.2 million in total. Match $532,971 and the timeline is ordinary; ask well above it and the Utah diligence list lengthens.
• Chiropractic offices: $10.5 million over 21 approvals in Utah, $498,471 each, which sets what a comparable request can be documented against.
• Physician and specialty offices: 20 closings, $8.7 million approved, $433,085 typical. That average is the reference point a Utah credit committee starts from on a similar file.
• Medical staffing: 11 closings, $7.4 million approved, $671,182 typical. That average is the reference point a Utah credit committee starts from on a similar file.
• Behavioral health and ABA: $457,633 on average, 15 approvals, $6.9 million in total. Match $457,633 and the timeline is ordinary; ask well above it and the Utah diligence list lengthens.
• Pharmacies: $6.5 million over 10 approvals in Utah, $647,800 each, which sets what a comparable request can be documented against.

• Dollar volume in Utah concentrates in dental offices: 23 approvals, $911,817 on average, 17 percent of the state's healthcare total. Match that size and the file follows a well-worn path; sit well under it and the request is usually equipment or working capital instead.
• Residential care and treatment follow at 18 approvals and $20.7 million, then veterinary practices at 4. Where a field shows steady volume, a lender in Utah already holds paper on practices like it, and the credit memo has somewhere to point.
• Certification files put 414 medical equipment suppliers in Utah. Where that base is deep, growth capital tends to fund acquisitions; where it is shallow, it funds the wait for a license.
• 36 of the Utah approvals came through 504 rather than 7(a), which is the real estate signal in this file: the borrower bought the premises. That program funds buildings, so the count is a rough read on how many practices here stopped renting, and it tells an owner weighing a purchase that the debenture route closes in this state.

• 180 SBA approvals to Utah healthcare borrowers in FY2025¹
• $121.7 million approved, averaging $676,309 per loan¹
• 680 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

• Utah Physician and Surgeon Licensing Board, licensure and ownership questions for physicians
• Utah Dentist and Dental Hygienist Licensing Board, licensure and ownership questions for dentists
• Utah Department of Financial Institutions, the regulator behind Commercial Financing Registration and Disclosure Act

Also covered in Utah: Midvale, Holladay, Taylorsville, Kaysville, Cottonwood Heights, North Logan, Tremonton, Pleasant Grove, Farmington, South Salt Lake, Springville, Salem, Clearfield, South Ogden, Lindon, Centerville, Woods Cross, Highland, Roy, Alpine, Hurricane, Saratoga Springs, North Ogden, Pleasant View, Santaquin, Magna, Syracuse, Herriman

• All states covered
• Every financing program
• West Virginia healthcare practice financing, for a second reading of the same datasets
• Alaska healthcare practice financing, where the same fields price differently
• Colorado healthcare practice financing, if the practice operates across the line
• Dental specialties, with the payer profile behind the numbers
• Veterinary, with the payer profile behind the numbers
• IV hydration and infusion, read on the terms that field is underwritten on
• Podiatry, and where the collateral usually comes from
• Home health, and where the collateral usually comes from
• Clinical and toxicology labs, and the revenue mix a funder checks first

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. 7Utah corporate practice rules
8. 8Utah certificate of need
9. 9Commercial Financing Registration and Disclosure Act, Utah Department of Financial Institutions
10. 10Utah Physician and Surgeon Licensing Board
11. 11Utah Dentist and Dental Hygienist Licensing Board