Is a Dental Practice Loan Right for You?
Loans for Dentists
As a dentist with your own practice, your business has various needs throughout its life.
- Upgrading equipment
These activities are known to cause cash flow issues throughout the process. Not to mention, with many patient-oriented businesses there is always this potential.
For day-to-day operations as well, having a line of credit readily available can be very useful, even without an immediate need for it. Having it there for a rainy day can be reassuring and take away that level of stress in the back of your mind, especially when dealing with slow insurance reimbursement. Besides that, applying for a line of credit when you don’t immediately need it makes it more likely for your business to be approved.
As far as business growth goes, taking out a small business loan for your dental practice can be a very strategic move. Utilizing leverage available to you is something that every successful business owner realizes is their best option when a good opportunity for growth or a new source for clientele presents itself.
How to get a loan for my dental practice
Many lenders will ask for a personal guarantee for a small business loan, which increases your risk. They also may require extensive paperwork including credit history and financial records. On top of all of this, the approval process is lengthy and could take weeks to get the business loan you need.
They say opportunity waits for no man. If you see one don’t ignore it because of money! Fill out our simple application to see if your practice will be approved, and get the funding you need as soon as possible so you can keep your business going in the right direction. If you have any questions about our services please contact us.