Therapy For Your Money

Episode 184: LOC vs Loan vs. Credit Cards

• Julie Herres • Season 6 • Episode 184

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Episode 184: Should You Use a Loan to Grow Your Practice?

Thinking about taking on debt to start or grow your private practice?

In this episode, we’re breaking down the most common types of loans available to practice owners—including the pros, cons, and risks no one talks about. From lines of credit to SBA loans and even credit cards, we’ll walk through when (and if) it makes sense to borrow money—and how to avoid financial decisions that could haunt you later.

If you’re considering a loan—or just want to grow wisely—this one’s for you.

🔥 EPISODE HIGHLIGHTS:

  • [00:00] The truth about loan fine print: Some lenders won’t show you just how bad the numbers are. Here’s what to ask for (and what to avoid).
  • [01:50] Four common funding tools: Line of credit, business loan, SBA loan, and credit cards—what they are, when to use them, and what to watch out for. 
  • [03:00] The myth of “business debt is separate”: Why personal guarantees matter—and what’s actually at stake when you borrow. 
  • [04:15] Line of credit 101: Why every practice should consider one—even if you don’t need it today.
  • [06:00] Business loans: When they make sense, what lenders look for, and how to plan your expansion budget wisely.
  • [08:00] SBA loans: What makes them different (and why they take forever to fund). 
  • [09:00] The danger of credit card funding: The true cost of convenience—and why you need a plan before you swipe.
  • [10:45] The expansion-profit gap: Why you should expect profit to drop for 6–12 months after expansion—and how that affects loan repayment.
  • [12:00] Lifestyle vs. sustainability: If your personal spending relies on high profits, loans may not be the right move.
  • [13:30] The real risk of personal guarantees: What happens when business debt turns into personal loss—and why some loans are downright predatory.
  • [15:30] Predatory loans in disguise: How to spot aggressive lenders and red flags buried in the fine print.
  • [16:00] Amortization tables and hidden fees: What to request before signing anything—and why some lenders won’t provide it.
  • [17:30] Climbing out of the debt hole: Why some loans start off with years of zero principal payments (and how hard it is to recover).
  • [18:00] Growing at the speed of cash: The quieter, safer way to expand your practice—without risking your future.
  • [19:00] How to save for expansion: The simple savings system we see work again and again.
    [20:00] Know your numbers: Why every expansion plan needs a clear ROI, stable cash flow, and a realistic payoff strategy.
  • [21:00] Final takeaways: Read the fine print, protect your personal finances, and consult a trusted advisor before borrowing. And if debt feels too risky? Growing slower is a powerful (and safe) choice too.

🎧 Listen now to learn how to fund your next move wisely—without putting your practice or personal finances at risk.

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