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Loans for Dental Practices

Discover how Great Energy Capital can help you start your practice, expand your business, or purchase new equipment for your dental practice with a business loan.

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4.99%

Competitive rates on secured financing

80,000

Twice the average approval of our competitors

4.9

Owning and operating a trucking company is a significant challenge. The expenses for trucks, equipment, fuel, and vehicle maintenance can create a complex budget. Combined with common delays in invoices and payments in the freight industry, it’s no wonder many trucking business owners require financing to manage cash flow inconsistencies.
To help, we’ve streamlined the process and outlined it for you below. Continue reading to learn how you can qualify and apply for trucking loans.

How To Get A Business Loan For A Dental Practice

Securing financing for a dental practice involves an application process similar to other loans. It’s crucial to organize your finances and understand your needs before beginning the loan application process. .
Great Energy Capital considers several factors when lending money for a dental practice

Working Capital

500

fico

6

Mo

$10K
Mo

Legal Residency

Any Owner

Equipment Financing

600+

fico

2

YRS

None!

Legal Residency

51%

 
1.

As with many professions requiring advanced degrees, dentists often finish dental school with student loans. One important factor to consider when evaluating a dental practice loan is your debt-to-income ratio.

2.

You'll also need to consider the dental insurance providers you work with and their payment timelines. Delays in insurance payouts can significantly impact your practice's cash flow.

3.

How large is your practice, and how do your expenses compare to the number of patients you anticipate treating regularly? Depending on your goals for your practice, you may require a larger or smaller loan.

4.

You’ll need to determine how you plan to start your practice. Will you purchase an existing practice from a dentist who is retiring or moving on, or will you build your business from the ground up? Both options come with their own advantages and challenges.

Purchasing or partnering in an existing practice often means you’ll begin with a larger patient base. However, you’ll also be investing in equipment that has already depreciated in value, and there might be a challenging transition period as staff and patients adjust to your leadership and any changes you implement.
Conversely, starting from scratch may be more expensive, but it allows you to manage everything according to your preferences and select new, state-of-the-art equipment. Both of these factors can be attractive to potential patients.

What types of loans are available for dentists and dental professionals?

Dentists and other medical professionals have access to various types of loans. You might require upfront capital to purchase or open a new practice, an equipment loan for costly x-ray or computer systems, or a line of credit to manage expenses while waiting for delayed insurance payments.

Whatever your funding needs, Great Energy Capital offers flexible options for dentists. Dental practices generally have lower default rates compared to other small businesses and are often viewed as a low-risk investment by lenders.

Short-Term Loans

These loans are perfect for quick growth and addressing short-term cash flow needs for expansion.

Business Line of Credit

If you encounter recurring cash flow problems due to payment delays or other seasonal funding issues, a line of credit can be beneficial.

Equipment Financing

If you need to expand your fleet or repair trucks, this type of financing is ideal.

How to find the best loans for your needs with Great Energy Capital

Finding the best loan for your dental practice involves evaluating it similarly to any other loan. You’ll want a loan with a low interest rate and repayment terms that are manageable for you—without extending too long, which could make interest costs more expensive.

What You'll Need with Great Energy Capital

 

Preparing your dental practice loan application with Great Energy Capital will require you to provide some information, including:

  • A business plan
  • The amount of dental student debt you carry
  • The practice location
  • Your experience as a practicing dentist
  • Your personal credit information

 

We will evaluate these factors to determine how much money we can lend, at what rate, and for what term.

Why partner with Great Energy Capital for your dental practice loan?

Partnering with Great Energy Capital for your dental practice loan stands out from working with other lenders, whether online or through traditional banks, because Great Energy Capital is specialized in lending.

With 15 years of experience and a commitment to leveraging technology, they focus on truly partnering with small businesses to support their growth. Choosing Great Energy Capital means working with a solution-oriented lender who will consider your unique needs and craft a financing package tailored to you.

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