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….

1. 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.
2. 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.
3. 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.