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PRN
Personal Loans

Need extra funds? We’ve got you covered.
Our PRN Loans meet the needs of physicians, dentists, and veterinarians across their entire career: through school, to training, and in practice.

Get Started in Under 10 Minutes

No hard credit check required.

Physicians

  • Medical students
  • Residents & fellows
  • Attendings

Dentists

  • Dental students
  • Grad students & trainees
  • Dentists & specialists

Veterinarians

  • Veterinary students
  • Grad students & trainees
  • Practicing veterinarians

Here’s A Better Financial Solution

Whatever you need, Panacea Financial helps you get loans fast. We get it. We are doctors too. And we know that doctors deserve better than being forced to use high-interest debt. With rates less than half of a credit card and funding in as little as 24 hours, a PRN Personal Loan can help you with:

Home Improvements
Credit Card Consolidation
Unexpected Life Events
Relocation
  • Home Improvements
  • Credit Card Consolidation
  • Unexpected Life Events
  • Relocation
Take Control Of Your Finances
Not sure where to start? Speak with a banker about your financial needs >

Quick
Funding

No
Cosigner

Reduced
Payments

No Prepayment
Penalties

What Is A PRN Loan?

A PRN Personal Loan gives you access to money when you need it most. Just as the name suggests, a PRN Loan – pro re nata or “as needed” – is designed specifically to give physicians, dentists, and veterinarians access to money as needed.

Why Take Out A PRN Personal Loan?

The cost of applications, board examination fees, life events, and relocation – how can you expect to pay for everything?

Physicians, dentists, and veterinarians deserve a better option than being forced to use credit cards or ask family or friends for help.

And whether you’re a practicing doctor, trainee, or still in medical, dental, or veterinary school, you can have a period of reduced payments.

Get Funding Quickly
No hard credit check required.

How To Get A PRN Personal Loan?

Our digital application can take as little as 10 minutes to complete and you do not need a cosigner. Then it’s your money as needed.

See How Much You Can Save

Using a lower-rate personal loan can save you thousands when compared to a credit card. Don’t take our word for it. Run the numbers yourself with our Personal Loan Vs. Credit Card Calculator.

Calculate Your Savings

FAQs

Who’s eligible for PRN personal loans?

To be eligible for a PRN Loan, you must be U.S. citizen or permanent resident and one of the following:

  • A 4th year student (In-School PRN) in an accredited U.S. based medical, dental, or veterinary school OR
  • A resident, fellow, or graduate student (In-Training PRN) after graduation with a MD, DO, DDS, DMD, DVM, VMD, or DPM degree OR
  • An independent practicing physician, dentist, or veterinarian (In-Practice PRN) with an active healthcare license.

What can I use a PRN Loan for?

A PRN Personal Loan* is exactly what it means — your money, as needed. Our PRN Loan can be used for whatever personal expenses may arise. We designed this personal loan product with the mindset that it can help pay for, but not be limited to, interviews, relocation, board examination fees, or to consolidate high interest rate credit card debt.

* PRN Personal Loans cannot be used to pay existing or future educational debt

Why don’t I need a cosigner for a PRN Loan?

We don’t require a cosigner for a PRN Personal Loan because we know you are trustworthy and deserve to be treated like an adult. Traditional banks don’t understand the financial lifecycle of doctors, which is why they can ask for co-signers in order to get access to their loans.

When does my repayment start?

If you are not a student, your first payment will be due 30 days after receiving your loan. You can tell us what day of the month you’d like to make payments on. Every PRN Personal Loan comes with a period of low or no payments.

Can I apply for a PRN Loan if I already have a personal loan?

Yes! We set maximum borrower amounts based on your current status: In-School, In-Training, or In-Practice. You can borrow up to the maximum amount for your status. For students that’s $10,000, for residents/trainees, it’s $20,000, and for practicing doctors it’s $50,000. If you take out less than this amount, and find you need more later, your Primary Care Banker will help you re-apply.

Real Results

Zuleyka Sanchez

Ross University School of Medicine | Forest Hills, NY
“

Panacea Financial has provided invaluable assistance with residency loans. Their consistent support and reliability throughout the entire process, and even after, have been remarkable. I am grateful to Panacea for assisting me in this crucial and financially challenging stage in my career.

Juan Manuel Martinez Diaz Granados

St. George's University | Miami, FL
“

Panacea provided an exceptional experience for incoming residents. While other companies rejected me for lacking “evidence of income,” Panacea took a holistic approach to my application. Unlike other financial institutions supposedly for medical professionals, they truly grasp our unique circumstances and are flexible in their approach. With Panacea, the process was seamless, and I felt understood and supported every step of the way.

Maye Mohamed, MD

Kaiser Permanente Northwest | Portland, OR
“

Right from the beginning, Panacea made everything a breeze. Together we developed a plan that aligned with my life and budget. They walked me through each step of the refinancing process with patience and clarity. Even after the deal was done, they continued to touch base over the years. There are no fines or hidden fees, just a straightforward approach.

See More »

Resources

Personal Loan vs. Credit Card: Which Do I Need?

Personal Loan vs. Credit Card: Which Do I Need?

Which is better: a personal loan or a credit card? It depends on what you plan to use it for. As doctors, both of these...

Credit card refinancing for doctors

How To Refinance A Credit Card For Doctors

Over half of Americans (61%) have credit card debt. This is a challenge that affects doctors as well. According to Medscape, 25% of physicians are...

Personal loans for dentists could be a better option than using a credit card when money is tight. Learn more about how personal loans could help you here.

Personal Loans For Dentists: A Better Financing Option

As a dentist, managing your finances can be a challenge, especially while in school or training. Your expenses can add up quickly, leaving you little...

See More »

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Panacea Financial Holdings partners with Primis Bank, Member FDIC, to deliver banking services through its Panacea Financial Division.

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External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by Panacea Financial. Links are provided for informational purposes and should not be viewed as an endorsement
Fine Print

1. All personal loans have a $100 origination fee. To obtain a new loan with Panacea Financial, you must also have a Panacea checking account; there is no fee to open the account, a minimum deposit of $25 required, and there is no minimum balance. Other fees and charges may apply, see this link for full terms and conditions. The APR on your loan may be higher or lower and your loan offers may not have multiple term lengths available. Actual rate depends on credit score, loan term, and other factors. Late payments or subsequent charges and fees may increase the cost of your fixed rate loan. There is no fee or penalty for repaying a loan early. All APRs assume a 0.50% discount with auto-pay from a Panacea Checking account. We offer a 0.25% discount with auto-pay from a non-Panacea checking account.  To check the rates and terms you qualify for, click “Apply Today” and Panacea will conduct a soft credit pull to determine your possible rate and will not affect your credit score. Not all applicants qualify for the lowest rate or maximum loan amount; subject to credit approval.  Total borrower maximum varies by stage of career and with credit score: In School maximum is between $1,000 – $10,000; In Training maximum is between $1,000 – $20,000; In Practice maximum is between $1,000 – $50,000. Panacea utilizes the Equifax credit bureau, with a FICO score minimum of 660 to qualify for a personal loan.

2. No payments during the first year. For a 5-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization years 4 and 5. For a 7-year term, you make reduced payments in years 2 and 3 of the interest accrued in the first year, added to the monthly interest. Full amortization over years 4, 5, 6, and 7.

3. For a 3-year term, you make interest-only payments in years 1 and 2. Full amortization in year 3. For a 5-year term, you make interest-only payments in years 1, 2, and 3. Full amortization in years 4, and 5. For a 7-year term, you make interest-only payments in years 1, 2, 3, and 4. Full amortization in years 5, 6, and 7.

4. Interest-only payments during first 6 months of loan. Full amortization over remainder of loan.

5. Adverse Credit Event: two or more payments more than 30 days late, totaling more than $500, within the prior 6 months; accounts with a total outstanding balance greater than $1,000 that are 90 or more days delinquent as of the date of the credit report, or that have been placed in collection or charged off during the two years preceding the date of the credit report; default determination during the five years preceding the date of the credit report; bankruptcy discharge during the five years preceding the date of the credit report; repossession during the five years preceding the date of the credit report; foreclosure during the five years preceding the date of the credit report; charge-off/write-off of a federal student aid debt during the five years preceding the date of the credit report; wage garnishment during the five years preceding the date of the credit report; tax lien during the five years preceding the date of the credit report; consumer credit counseling within five years preceding the date of the credit report.

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