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Dental Practice Loans: Financing Options,
Acquisitions & Expansion
A career in dentistry is exciting and rewarding, but it comes with high costs. If you own your own dental practice, you must purchase equipment, manage and hire staff, and market your services. Dental practice loans can help dentists meet these demands and challenges.
Whether you’re establishing a new practice, or looking to expand your existing business locations of dentistries, there’s a wide range of financing options. With a variety of small business loans available, dentists must ensure they choose the right dental practice loans specific to their needs. It starts with looking at the major lending opportunities available before diving into specific loan types.
How Much Can a Dentist Borrow?
At A1 Financial, it's quite high: Up to $25 million unsecured,
and up to ​​​$500 million if you have real estate as collateral.
Here's the types, broken down:
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A1's EXPRESS SBA Loans for Dental Practices:
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The Small Business Administration serves as a middle ground between banks and alternative lenders. The SBA does offer lending programs for dental practices. However, the dental practice loans provided by the SBA typically go through a strict application process. This means it will be similar to a traditional bank’s credit application process. An SBA loan can be very difficult to obtain and will typically require a lot of documentation. A1 guides you all the way.
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SBA loans tend to be affordable and come with longer repayment terms. Although, the process is lengthy, and it can often take several months to get funded NORMALLY, but A1 can get you funded in about 15 days.
The key is you need at least 2 to 3 years of squeaky-clean tax returns...which means over 3 years in business, and very good numbers. Because of these factors, SBA loans typically aren’t a good fit for everyday working capital needs or unexpected expenses.
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Types of Financing to Consider for Your Dentistry Business
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Alternative loans for dental practices can be used for a wide range of purposes. Here are a few popular types of financing that can prevent a cash flow disruption when running a dentistry:
Working capital loans: Short term loans designed to help your business cover temporary cash shortfalls. They’re ideal if you need a quick injection of cash to cover day-to-day work expenses, such as paying rent, keeping the lights on, and covering payroll.
Equipment loans: Dental practices rely on functioning equipment to maintain operations. Utilizing business equipment financing can help you replace parts or purchase newer, advanced equipment to help keep your business running.
Marketing financing: Dental practices face heavy competition. Supplementary financing for marketing and advertising can help you generate revenue and bolster your business.
Small Business Loans to Finance Your Dentistry:
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Location Expansions
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Dental Equipment
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Employee Payroll
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Tax Payments
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Unexpected Bills
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& Much More ...
See how much you can receive:
It takes just 60 seconds.
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Questions?
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Contact us today to learn more about how we can help you grow your dental business and outshine your competition.
