Healthcare costs can feel overwhelming, whether for medical treatments, wellness services, or dental care. While some patients turn to a credit card or debit card at checkout, others need flexible financing options that allow them to move forward with care without adding financial stress. That’s where patient financing platforms like Cherry and Sunbit come in.

Both companies give patients a way to cover a total purchase with monthly payments instead of one large upfront expense. For providers, offering these payment options can reduce hassle, improve case acceptance, and ensure more patients can say “yes” to care.

What is Sunbit?

Sunbit is a financial technology company offering financing across multiple industries. Their original focus was auto service and dealerships, but Sunbit now offers financing in dentistry, healthcare, and retail. The platform is designed to make everyday needs more manageable, from auto repair to dental work.

With Sunbit, patients can apply in person or online through sunbit.com. The approval process starts with a soft credit check, so there’s no immediate impact on a patient’s credit score. With a high approval rate, Sunbit can be an attractive financing option for providers. 

Once approved, patients can spread their purchase amount into installments. A payment is due at checkout (effectively a down payment, with higher amounts due at checkout for patients with lower credit scores), made with a bank-issued debit card, and then the balance is divided into monthly installments. Loan amounts typically range from $50 to $20,000, with terms from 3 to 72 months depending on the product. These loans are made by Transportation Alliance Bank Inc., dba TAB Bank, which determines qualifications and terms of credit. 

In addition to installment loans, Sunbit also offers the Sunbit Card, a Visa credit card with no annual, late, or penalty fees. Unlike loans, this product behaves more like a traditional credit card, with a hard credit check and payments reported to major credit bureaus. 

What is Cherry?

Unlike Sunbit’s broad reach, Cherry focuses specifically on healthcare, dental practices, and wellness providers. Patients applying with Cherry can pre-qualify in seconds through a soft credit check, avoiding the risks of a hard credit check that could appear on their credit report. Once approved, patients can choose from flexible payment terms, including short-term interest-free options and longer-term plans.

Cherry supports loan amounts up to $50,000, with repayment terms from 3 to 60 months depending on the provider. This makes it one of the more flexible solutions available for high-value medical or cosmetic treatments. For providers, account openings are simple, funding is predictable, and financing is practice-specific. Just as crucial, Cherry’s dedicated customer support is specialized for plastic surgery providers, dental offices, wellness clinics, dermatologists, and veterinary practices.

Cherry vs Sunbit: A Side-by-Side Comparison

‍

The Biggest Differences Between Cherry and Sunbit

1. Loan Amounts and Terms

Cherry Payment Plans support larger financing amounts — up to $50,000 — with terms as long as 60 months. Sunbit caps financing at $20,000, but extends terms up to 72 months. Depending on the treatment or procedure, practices may want the higher loan amount flexibility of Cherry or the longer repayment window of Sunbit.

2. Interest Rates and Fees

Cherry offers interest-free options like the pay-in-4 plan for almost all borrowers, and true 0% APR monthly plans for qualified borrowers. Sunbit offers interest-free promotions and APR-based loans. However, some Sunbit promotions use deferred interest, which can create retroactive charges if not repaid by the due date  — similar to certain credit card promotions.

3. Credit Experience

Cherry relies only on a soft credit check, so patients’ credit scores are not at risk during the application process. Sunbit also starts with a soft inquiry, but certain loan types may involve a hard credit check, and account activity may be reported to a major credit bureau (with exceptions for healthcare loans in some states). Cherry reports payments to credit bureaus as well. 

4. Industry Focus

Cherry is a buy now, pay later solution built specifically for healthcare, cosmetic, wellness, and dental financing. Sunbit technology, by contrast, extends into automotive, retail, and dealerships. For practices that want a financing partner aligned with healthcare, Cherry is more specialized. Businesses and customers seeking a financing partner beyond healthcare may prefer to use Sunbit. 

5. Simplicity vs Complexity

Cherry’s approach is straightforward: clear payment terms, flexible financing, and stress-free management for both patients and providers. Sunbit offers more product variations — installment loans, the Sunbit Credit Card, and deferred-interest promotions — so repayment structures can feel more complex. Cherry’s application takes most patients 60 seconds or less to complete, while Sunbit relies on scanning driver’s licenses with an iPad, which can be a challenge for some practices and patients.

FAQs about Cherry vs Sunbit

1. Is there an age requirement to apply?

Yes. Patients must be at least 18 years of age to qualify for financing with either Cherry or Sunbit.

2. Do patients need to make a payment upfront?

‍Yes. With both Cherry and Sunbit loans, new patients must make a down payment at checkout. With Cherry, the down payment is always equal to future payment amounts, while Sunbit charges higher down payments in many cases, especially for patients with worse credit.

3. How are monthly payments made?

‍Cherry allows ACH, debit, and credit card payments (credit cards have a small processing fee), as well as checks and prepaid cards managed through an easy-to-use online account. A Sunbit payment usually starts with a debit card at checkout, followed by automatic installments, and convenient management through the Sunbit app.  

4. What kinds of financing promotions are available?

‍Sunbit offers both true 0% APR plans and deferred-interest promotions. With deferred interest, patients avoid interest if they pay the balance within the promotional period; if not, interest is applied retroactively. Cherry focuses more on straightforward interest-free plans without deferred interest.

5. Can patients manage their accounts online?

‍Yes. Both companies offer digital tools. Patients can log into their Sunbit account to view installments or card balances. Cherry also provides an online portal for reviewing payment terms and account activity.

6. Are flexible options available for larger procedures?

‍Yes. Cherry supports flexible payment options with financing up to $50,000 and terms up to 60 months. Sunbit provides flexible financing as well, though its loan amounts are capped at $20,000 with terms up to 72 months.

7. Who do patients call if they have questions?

‍Both Cherry and Sunbit customers can reach dedicated customer service representatives online or through a direct phone number if billing or repayment questions come up.

Final Thoughts

Both Cherry and Sunbit help patients access care without paying everything upfront. Cherry’s higher loan amounts, interest-free structure, and healthcare specialization make it appealing for high-value medical and wellness treatments. Sunbit offers broad accessibility, longer terms, and high approval rates, but patients should be cautious of deferred interest promotions that may lead to unexpected costs.  

For practices, Cherry enhances cash flow with upfront payment, increased case acceptance, and the lowest merchant fees in the industry. Most importantly, it enables doctors and clinicians to focus more on treatment and less on collecting payments. Find out why patients love Cherry, and why over 40,000 providers use it to expand treatment accessibility and boost business. Claim your complimentary demo today.