In Vitro a Fertile Niche for Lenders

Julie Barth's prayers were answered when a doctor in Crystal Lake, Ill., told her in vitro fertilization might get her pregnant.

But he didn't stop there, referring her to a "fertility finance" company that lent her $5,000 at an interest rate of 7.99% to help cover the $24,000 procedure. Her daughter, Olivia, was born about a year later.

"You can't put a price on a smile like that," says Ms. Barth, 32 years old. She hopes to pay off her loan from Springstone Financial LLC, based in Southborough, Mass., by her daughter's third birthday in 2014.

At a time when many traditional lenders are struggling, companies that join forces with doctors to make loans for in vitro fertilization, egg harvesting and other fertility treatments say their business is thriving.

One reason: Fertility-finance companies are getting a boost from the banking industry's retrenchment. For example, credit has become tight for home-equity loans and credit cards, two ways couples often have paid for fertility treatments that often top $20,000. Mike Gilroy, Springstone's president, says business is robust because "if the time is...