Why Banks Love Podiatrists (But Rarely Tell Us Everything)
Here’s something most podiatrists don’t realise: banks love podiatrists.
The profession is stable, in demand, and unlikely to disappear. That makes podiatrists attractive borrowers. Yet most podiatrists never benefit from this because they don’t know the rules of the game.
Stability Is Currency
From a lender’s perspective, podiatrists represent low risk. People will always need foot care, and most well-run podiatry clinics generate consistent income. That stability leads to profession-specific lending policies.
The issue, though, for most podiatrists, is simple. These policies aren’t advertised by the banks.
Loyalty Can Be Expensive
Many podiatrists stay with the same bank for years out of habit or convenience. Maybe it was the bank your parents and therefore it feels familiar. And loyalty feels sensible, but in banking, it often comes with a hidden cost.
Banks reward new customers far more enthusiastically than existing customers, which makes no sense. If you don’t believe me, pay attention the next time you see YOUR BANK make an offer: is it to you or to a new customer?
If YOU want to get better rates, better structures, and greater flexibility, they are often available, but only if you ask, threaten to move banks, or actually move to another bank.
Knowledge Changes the Conversation
Once you understand how lending works, the dynamic shifts. You stop asking for permission and start asking questions. You compare options, and you negotiate.
This isn’t about being aggressive. It’s about being informed and realising that making better decisions now will help shape your future.
But do you have the time to do this and keep up to date with the many banking changes?
Why Specialist Advice Matters
General financial advice often misses profession-specific opportunities. That’s why working with someone who understands both healthcare and lending can make such a difference.
In Episode 400 – PAID OFF: Why Financial Literacy Matters for Podiatrists with Andrew Jacobs, we explore how podiatrists can unknowingly limit themselves by accepting standard lending pathways when better ones exist.
Side Note: Andrew Jacobs is an Australian Mortgage Broker specialising in loans for Allied Health Professionals, but I’m sure there is an equivalent in your country and similar banking opportunities.
Financial Confidence Reduces Career Stress
Understanding lending doesn’t just save money; it reduces anxiety. When you know your options, uncertainty fades.
That confidence will spill into your professional life, helping you make clearer decisions, take better risks, and avoid panic-driven choices.
Episode 400 of the Podiatry Legends Podcast is a must-listen if you’ve ever assumed “this is just how it works.” Listen now at www.podiatrylegends.com
Most podiatrists were never taught how to think strategically about business. That’s not a failure, it’s a gap in the education system.
One-on-One Business Coaching that works
If you want help solving your business problems and creating systems that make your business more profitable, I offer free 30-minute coaching calls; no pressure, just some guidance.
If you like what you hear, and we like each other, we can even work together long-term.
Below is a link to my online calendar.
You can schedule a free 30-minute Zoom call with me to discuss any aspect of podiatry. You may have business questions or need career advice; regardless, I’m here to help where I can.
But if you’re still not sure about scheduling a time to talk with me, that’s okay. Keep browsing my website, take a look at my coaching page, and if you have any questions, please email me at tf@tysonfranklin.com