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"Doctors Replace Wall Street Bankers As Go-To-Buyers"

With Wall Street reeling from a downturn in the economy, doctors are replacing bankers as the new go-to buyers. Medical professionals, who have a reputation for "recession-proof" income, are snatching up pricey penthouses intended to attract hedge funders and snagging fancy office space to house their growing practices.

"Banks look to get business from doctors, dentists"

"Most of the loans that you make to physicians and dentists are based on the cash flow of that particular specialty, rather than on the assets or collateral," Hadley said. "With an orthopedic surgeon who makes $500,000 a year, you've got cash flow to work with to service the debt, but you may not have but about 20 to 30 percent of valued assets to the loan."

"Thanks to depositors, local banks still have money to lend"

Even as small businesses in Rhode Island are seeing some sources of credit tighten, the state’s community banks say they have money to lend.
“We’re still out there and lending,” said Thomas W. Kelly, president of Bank Newport. “Our loans are up about 13 percent, year over year, since last year."