The use of bioresorbable polymers such as poly(lactic-co-glycolic acid) (PLGA) in coronary stents can hypothetically reduce the risk of complications (e.g., restenosis, thrombosis) after percutaneous coronary intervention. However, there is a need for a constitutive modeling strategy that combines the simplicity of implementation with strain rate dependency. Here, a constitutive modeling methodology for PLGA comprising numerical simulation using a finite element method is presented. First, the methodology and results of PLGA experimental tests are presented, with a focus on tension tests of tubular-type specimens with different strain rates. Subsequently, the constitutive modeling methodology is proposed and described. Material model constants are determined based on the results of the experimental tests. Finally, the developed methodology is validated by experimental and numerical comparisons of stent free compression tests with various compression speeds. The validation results show acceptable correlation in terms of both quality and quantity. The proposed and validated constitutive modeling approach for the bioresorbable polymer provides a useful tool for the design and evaluation of bioresorbable stents.