Dental Practice Loan

Dental practice loans available to assist your practice same day or net day with any financing needs.   Easy application and closing.  A dental practice can also get working capital against the the sales of the practice.    Low credit scores below 500, tax liens, and existing cash advances can be approved.  Fast approval.

This loan against dental practice sales can obtain significant funding amounts. Just use the existing sales your dental practices already has to qualify.  Almost all practices should be able to obtain funding through this program.

Apply below

Complete the Secure DocuSign 30 Second Dental Practice Loan Application now.
Or call us at Tel:  1-919-771-4177, or Questions? 

How to get a dental practice loan:

Step 1 Find lenders online that specialize in dental practice loans.   Review the program features and benefits including ease and speed of the application process and closing.

Step 2 Practices that have been operating for 1 year or longer can qualify for better programs.  Some dental practice loan programs offer approvals with as little as 3 months time of operation.

Step 3 Compare your dental practice profile to the loan programs available, and pick the one that best matches your dental practice.    For larger practice loans over $500,000 and above, a financial package that includes 2 years business returns and interim financial statements may be requested.

Step 4 Contact matching lenders to discuss borrowing options and requirements for your specific dental practice.

Step 5 Submit an application for financing.  Furnish any other documents that show the strength of your practice.

Step 6 For any approval you receive, review the term sheet which includes conditions and closing requirements.  Submit items required for closing and funding.
Complete the transaction and receive funding into your practice account.

How can I qualify for a loan using my dental practice?

– $7,500 to $250,000
– 3 Months Time in Business
-Below 500  credit score

Features include:

No application fees or upfront fees.
More difficult transactions are done routinely
The financing process generally takes 2 to 5 business days.

If a Dentistry Practice is profitable and has equipment assets, it is to the Practice’s benefit to use the equity in their equipment for other business needs, rather than to leave the equity in the equipment.

For this program based on the gross sales of the business, the funding is based primarily on the most recent cash flow of the business.  The dental practice provides a one page application and the most recent 3 months complete business checking accounts statements.  Credit is only a minor factor for this program.  Credit bureau scores of 500 and higher are acceptable under this program.   In some cases, scores lower than 500 may be accepted.

Once the statement are received, the main numbers that are looked at for each month are the average daily balance, the total dollar amount in deposits per month, the number of deposits per month.  The beginning and ending balances are reviewed however they are not main considerations in the review.

FAQ’s, Frequently asked questions:

Question: I need a loan on a dental practice. How long does the process take?
Answer:  The entire dental practice loan takes approximately four to six days from start to finish. Funds are wired into the customers business account on the last day.
Question: What is the amount we can qualify for?

Answer: The amount your business has the opportunity to qualify for in this Dental Practice Loan depends primarily upon the time in business, the business credit, the credit of the owner(s), and the amount requested.   Other factors may include the company’s cash flow, and bank account statements. All of these factors may not come into play for any given request.

Question:  Will a signer, or guarantor be required, or can the request be approved just in the name of the company?
Answer:  If one signer has 51% ownership, this will be enough in most cases.
Question : What if we are approved and then realize we need more funding?
Answer:  If your practice is funded $50,000 and then realizes it needs more, a second dental practice loan segment can be requested.  Many dental practices realize that they needed more funding than the original request.  In such instances, the practice can simply request another part for whatever they need.  This happens in many cases and is common.  Many existing customers have two loans on the books.
Question
Answer: The minimum is $5,000
Question: Can I pay it off early and get a discount?
Answer:  This will depend on when you pay it off and how your repayment history
has been until the time you paid it off.   If the repayment record is clean then a discount
is normally offered.  The discount normally is up to 5% to 10% off the total of the payment.

The following video provides further general information on dental practice financing. This includes features and benefits such as using the practice’s existing equipment, the $10,000 to $125,000 ranges, time frames to funding, ease of application, how the program can be combined with other funding programs if the dentist wants to get more funding.


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Chiropractor Practice Business Loan

Alternative programs for a chiropractor practice loan almost all practices can qualify for.  Programs include loans based on either your practice’s gross sales, total deposits, practice assets, or equity in real estate.

Apply below today.
Complete the Secure DocuSign 30 Second Application now.
Or call us at Tel:  1-919-771-4177, or Question?

Chiropractor practice business loan
Chiropractor practice business loan with many term options

Loan for a chiropractic practice benefits

  1. Credit scores below 500 and as low as 400 are considered.
  2. Approvals as low as $2,600 and up to  $1,000,000 or more with no restrictions on the use of funds.
  3. Use the funding like an loc line of credit.   Your practice can borrow, repay and borrow again in many cases when there is a need.
  4. Limited paperwork.   Just a one page application and most recent (3) months bank statements.   Same day closings available.
  5. Use the funds to increase revenues of the practice such as hiring more employees, advertising, expansion, increasing office space,  and any other reason.
  6. No upfront processing fees or upfront application fees.

How to get a chiropractor practice loan

Step 1  Search for lenders that offer chiropractor practice loans.   Review program options and consider how the program can help your practice.

Step 2 Tip  Practices that have operated for more than one year can qualify for better terms.

Step 3  Review your chiropractor practice profile to the funding programs available.  Select a short list of programs that will do the most for your chiropractic practice.

chiropractor practice loan
chiropractor practice loan

Step 4  Contact the lenders to determine as best as possible whether your chiropractic practice will be approved if you apply.  Also confirm the advertised program benefits.

Chiropractor practice loan
Chiropractor practice loan

Step 5  Pick one or more programs and submit an application for financing.  Provide any documentation that strengthens your request even if it is not required.  This can include financial statements, tax returns, or other information.

Chiropractor practice loan
Chiropractor practice loan
Step 6  When you receive an offer, review all the terms and conditions.   If you are ready to close, provide all documentation required for closing.    Check if there is a right of recision period.

Frequently asked Questions:

Question: What if we need more than we are approved for?
Answer:  A second additional funding can be considered.   If the practice has the cash flow for more funding, then more funding can be approved.  A practice that qualifies for $50,000 can close the 1st transaction, then get a 2nd position  for $25,000 for a total of $75,000.
*TIP:  A second part or second transaction is often called a “2nd position”. 
Question: Our chiropractic practice does not have assets and revenues are only about $225,000 per year.  Can we get an offer?
Answer:  A practice with little assets and sales of $225,000 per year may still qualify for up to $25,000 based on the cash flow and customer profile.

What ownership percentage is required for a chiropractor practice business loan?

a minimum 50% ownership is required.    When there are 2 owners at 50% ownership, the stronger credit of the two 50% owners should be listed 1st.   the weaker credit should be the co-applicant.
If one of the owners has very weak credit then only the strong credit applicant should be on the application.

Are financials required?

Financials are not required for transactions under $250,000.   No tax returns, personal financial statements, or interim statements are requested in almost all requests under $150,000.   For requests over $250,000, the practice may want to provide financials to strengthen the chance for approval and the approval amount.

Learn how to get funding for your practice with any problems.   Apply today and get funding the same day or the next day.

Medical practice loan

Medical practice loan.  Definition of medical practice loan.

What is a medical practice loan and what types are there?
A medical practice loan is any type of financing a medical practice obtains to either establish or grow the practice.  Get a niche medical practice loan based on equity in business assets such as equipment assets or on the sales of the practice.

Join thousands of business owners who have gotten a medical practice loan.  Together, you will get you the best program for your business with Smallbusinessloansdepot, the first choice for a medical practice loan.  Apply below today.
Complete the Secure DocuSign >>15 Second Medical Practice Loan Application now.<<
Or call us at Tel:  1-919-771-4177, or Question? 

A significant tax savings will can be realized in this medical practice loan against equipment, by being arranged in part as a lease.   This allows for a significant tax savings over a traditional loan.    The borrower obtains working capital for their business via the equity in their equipment as opposed to having full ownership in their equipment.

Features
Processing time is one to three days.   After approval, time for funding is approximately one to three days.  If more funding is needed,  additional funding can be arranged with additional funding “parts” or “segments”.    Total funding that can be obtained is typically in the $150,000 to $250,000 range.

Due to constant advances in the medical field, medical equipment equipment depreciates quickly.    Many types of medical equipment becomes totally obsolete in a short amount of time.   However, Small Business Loans Depot can utilize medical equipment that has undergone full depreciation and is several years old.

The practice may have additional financing and working capital needs after the equipment refinance product is completed.

medical practice loan
Flexible medical practice loan options

Other programs

Gross sales cash flow loan –  This financing product may be very desirable for medical practices as it is based on the gross sales and cash flow of the practice.  Medical practices often have significant cash flow, so this product can provide significant working capital to the practice.

This medical practice loan product is used, in effect as a line of credit.   The practice provides the most recent 3 months business checking account statements and a one page application.    The average daily collected balance, the amount and number of deposits per month, beginning balances, and ending balances are reviewed in order to determine the approved amount.

The customer sends in the 3 months business checking account statements and one page application.   Upon approval, the customer is e-mailed documents.   The customer completes the documents and faxes them back in.   A final landlord check and verbal verification is completed.    Funds are wired into the customer’s account within 1-3 business days.

Repayment terms on this medical practice loan range from 3 to 18 months.     Once the customer satisfactorily repays the line, the line size is increased.   The customer is not obligated to use the available line.   They can reuse the line immediately or leave it idle for any amount of time.

Sample medical practice loan transaction:

Primary care physician PCP, Dr. Smith, in Lexington, Kentucky, 6 Years in business, 650 credit score with a Dun & Bradstreet Paydex Score = 65.     Dr. Smith provides one page application and his equipment list.

Upon approval in 2-3 days, documents are e-mailed to Dr. Smith.   Dr. Smith completes and overnights original docs back.   A final verbal confirmation takes place within a day.  In most cases there is no site inspection.  Funding occurs in 2-3 business days.

In most cases, financials and bank statements are not required.   However, if the customer’s financials or bank Statements are strong, the customer can opt to provide to strengthen their application.   If the customer has a strong credit bureau score of over 700 or over 725, financials may not be requested.

Although there is a certain dollar amount above which financials are requested for this form of financing, there is often some discretion used by the lender.   If the customer has a credit score of 750, then the lender may consider an extra $10K or $20K without requesting financials for a medical practice loan compared to a customer with a 675 credit score.

The lender has guidelines that they follow but they do have the authority to stray from the guidelines to a degree if they can justify it.

The following video provides an overview of the medical practice loan program as well, including features and benefits.

Frequently asked questions:

“Get me a medical practice loan” or “I need a medical practice loan”.

Question:  What is the maximum we should apply for?
Answer:  That depends on a few factors, but in general, a good rule is to
apply for not much more than the minimum amount that you need.  If your
business needs between $50,000 and $100,000, then do not apply for
$100,000 to $150,000.   Some applicants think that they should apply for the maximum amount, or “go for the moon”.  They believe that the more they ask for, the more they
get.
This is not true.   With many lenders, the more you apply for, the more difficult it is
to get approved.  If you apply for too much, they will simply decline
the request rather than approving your business for a lower amount.   When your business only needs $50,000 in working capital but applies for $150,000, then it may be turned down completely and not receive any funding.   The business should apply for as close to $50,000 as they feel they can.