Loans for medical bills in Florida
Before borrowing for a medical balance, ask the provider for their interest-free payment plan and their financial-assistance policy. Most hospitals have both, and either one is cheaper than any loan — including ours.
Exhaust the cheaper options first
Florida hospitals are generally required to have a written financial-assistance or charity-care policy, and non-profit hospitals must publish one to keep their federal tax status. Ask for it by name. Depending on household income, part or all of a balance can be reduced or written off.
Ask separately for an interest-free installment plan. Providers routinely offer them and rarely volunteer them. A zero-interest plan from the biller beats a 28.99%–35.99% APR loan every time.
Request an itemised bill and check it. Duplicate charges and coding errors are common, and the corrected balance may be small enough not to need financing at all.
When a loan is the better answer
A loan is worth considering when the alternative is a medical balance heading to collections, a provider who will not offer terms, or a bill already spread across several providers you would rather resolve at once.
One thing a loan changes is the nature of the debt: unpaid medical balances and a defaulted installment loan are treated differently by credit reporting, and consumer-reporting rules give medical collections particular handling that an installment loan does not get. Converting a medical balance into a loan is a real decision, not a formality.
What it costs
The same terms apply whatever the loan is for: 28.99%–35.99% APR depending on amount and underwriting, 12-month terms, no prepayment penalty.
| Loan amount | APR | Term | Monthly payment | Finance charge | Total of payments |
|---|---|---|---|---|---|
| $2,000 | 35.99% | 12 mo | $200.91 | $410.92 | $2,410.92 |
| $3,500 | 33.99% | 12 mo | $348.11 | $677.32 | $4,177.32 |
| $5,000 | 31.99% | 12 mo | $492.34 | $908.08 | $5,908.08 |
| $7,500 | 28.99% | 12 mo | $727.43 | $1,229.16 | $8,729.16 |
| $10,000 | 28.99% | 12 mo | $969.91 | $1,638.92 | $11,638.92 |
Representative examples only, not an offer of credit. Each row assumes a 12-month term, on-time payments, and the APR StrideFi currently quotes at that amount; your APR, term, and payment depend on underwriting. Interest accrues daily on the unpaid principal balance, so paying early reduces the finance charge below the figure shown, and paying late increases it. There is no prepayment penalty.
Model your own figures with the loan calculator, or read the full rates and terms.
Frequently asked questions
- Can I use the loan for a dental or veterinary bill?
- Yes. Funds are disbursed to your bank account and are not restricted to a provider or a category. The same advice applies: ask the practice about an in-house plan first.
- Will you contact my provider or insurer?
- No. We do not contact providers, insurers, or collection agencies, and no medical information is requested or used in underwriting.
- Is the loan available for a bill already in collections?
- Funds can be used however you choose, including settling a collection account. Approval, though, depends on underwriting — and an account in collections is part of the credit-risk data underwriting reviews.
Other reasons people borrow
StrideFi is an online lender — we have no branch locations. Loans made by Stride Financial LLC under the Florida Consumer Finance Act (Chapter 516) to Florida residents statewide. Amounts from $2,000 to $10,000; APR 28.99%–35.99%; terms up to 12months; no prepayment penalty. Approval, loan amount, APR, and term depend on underwriting, including identity, income, and bank-account verification — not every applicant qualifies, and applying is not a guarantee of credit. Funding times depend on your bank's ACH processing.