Patient FAQ

What is SimpleSelect Patient Finance?

SimpleSelect is a financing program that patients can use to finance a portion or all of the cost of a medical procedure.

Is it a medical credit card?

SimpleSelect is NOT a credit card.  It is a closed-end, fixed-rate installment loan; similar to the type of loan you would use to purchase a car or a house.  Loans are set at terms from 6 to 60 months and the interest rate is fixed.

Why would I use it instead of a medical credit card?

SimpleSelect might be a better loan choice when financing a larger-ticket, one-time medical procedure, product, or service.  Because it is a closed-end, fixed rate loan, your terms are locked in for the life of the loan as opposed to a medical credit card.

What will my monthly payment be?

The SimpleSelect program provides an affordable payment plan on almost any budget.  Most loans can be taken out up to 60 months to ensure that you will have a payment you can afford. You can access our simple payment calculator on our Patient Resources page.

How much can I borrow?

Patients can borrow as little as $1,000 and as much as $20,000 or more if qualified.

How do I apply? Is there any cost to apply for financing?

Applying with SimpleSelect is quick and easy.  Just fill out a brief application at your provider’s office and receive a credit decision within minutes. You only need a government issued ID. There are no fees to apply for financing.

What type of credit do I need to have?

The SimpleSelect program will considers applicants with fair credit and above.

What type of credit do I need to have?
Once approved, what will my interest rate be? Will it ever change?

Patients approved for the program will have a fixed interest rate of 14.99%. Because the rate is fixed, it will not change. By comparison, most medical credit card programs have a default rate of interest near 30%.  They may offer you a promotional rate that is lower, but the rate is not fixed and can move to the default rate if certain terms are not met.

What if I pay my loan off early?

SimpleSelect loans use simple interest, so you can pay off early to avoid future interest charges with no pre-payment penalties.

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