3 top tips to help dentists improve their chances of being granted funding when buying a dental practice
Buying a dental practice is a big decision and obtaining the correct funding is a major part of that decision.
Whilst our team have helped thousands of dentists make the transition from an associate to principal we are always aware that dentists looking to buy a dental practice will very often need help and guidance, particularly when it comes to securing the funding needed to make a dream purchase become a reality.
3 Top tips for those who are looking for funding to buy a dental practice
Here’s our top tips to help you improve your chances of being granted funding when you buy a dental practice….
- Ensure you are financially pre-assessed by an independent dental broker – this will provide you with a whole of market overview of how much you could potentially borrow (rather than just the opinion of one bank) which should then steer you towards suitably sized practices.
- Ensure your CV is up to date and that it expands on your managerial experience – this is one of the most important documents that a bank will consider when assessing loan proposals.
- Build up your savings – whilst it is sometimes possible to secure 95% or even 100% funding for best terms you really do need a minimum 10% cash contribution.
Specialist help is at hand – find out more about dental practice purchase funding
For more help and advice with securing finance to buy a dental practice, please get in touch with us as soon as possible for a no-obligation chat on 0330 088 1157.
We are able to source a wide range of innovative and competitive Healthcare Finance packages specifically tailored to, and for, Healthcare Professionals such as:
Remember!
You are in a specialist market so use a specialist broker who understands your sector. With access to major banks and specialist niche healthcare lenders, we know the types of proposals that are synonymous with this sector.
