From Mohamed Abdullah, Northeast Sales Division Executive

How quickly October has flown by and we are on to the 4th Quarter!  As mentioned in a previous communication, we continuously look to develop and make improvements to our processes and products. 

Bank of America Practice Solutions is excited to introduce our latest innovation designed for multi-practice owners: the Advised Line of Credit (ALOC).  The ALOC provides clients with the buying power they have been looking for.  It gives them the flexibility they need to acquire a practice, purchase equipment, and/or start a DeNovo, then quickly term-out the loan, and re-access the line all in an abbreviated timeframe.  Please reach out to your local representative if you want to learn more about ALOC product for highly qualified candidates. 

In addition, we are rolling out a new FEE Waiver promotion. Starting October 3rd through January 13th, 2023 we are waiving both appraisal and origination fees on loan amounts of $100,000 to $5 million!  That’s right, NO appraisal fees and origination fees and a competitive interest rate. This is also inclusive of our administration fee on all loan products. The loan must close and fund by 7/12/2023 to be eligible.  

Finally, and for the first time ever, we are offering up to a $500 rebate program for new clients who sign up for merchant services product.   This product features seamless integration into our Business Advantage 360, which includes same day funding, lower rates, and no miscellaneous fees (that you may see from other merchant banks). 

For more information about the current BOA practice loan promotions, please email