As the name implies AHL is for patients looking to finance their medical procedures. Founded in 2009 in Salt Lake City, Utah, they work in a number of verticals within health care: cosmetic surgery, fertility, spine and neuro surgery, behavioral health, just to name a few. They are not actually a lender as such; rather they have developed a cloud-based patient financing platform that is integrated with a variety of lenders including Prosper.
This is from the AHL website:
American HealthCare Lending sits at the intersection of the healthcare, technology, and financial services markets and we are using technology to bring innovative financial services solutions to a massive healthcare problem. Our patient financing platform allows healthcare providers nationwide to Make Healthcare Affordable™ for patients every day by offering high-dollar installment loans to individuals with good credit.
This acquisition all started when AHL became a referral partner of Prosper last year. AHL is an innovative young company that appealed to the executive team at Prosper. They are looking to disrupt financing in the healthcare industry in a similar way Prosper is looking to disrupt the broader consumer lending industry.
AHL works directly with a number of lenders, including Prosper, but their main innovation occurs inside the doctors’ offices. The patient can enter their information on the spot and get a decision on their loan instantly. The maximum loan size is $100,000 and loan terms go up to 7 years. Obviously the loans they refer to Prosper would fit within Prosper’s loan terms – a maximum size of $35,000 and a maximum loan term of 5 years.