Practice Finance 101:

Practice Finance 101: As a dentist, obtaining a loan is not something new to you.  Most of your academic career has been dependent on the ability to finance your education and living expenses.  However, along the journey of acquiring a practice, first time owners quickly find out that financing a practice is quite different and more involved than obtaining a credit based consumer loan. Although the current and historical performance of the target practice is at the core of the underwriting...Read More

The Ugly Truth About Buying and Selling Dental Practices

This article isn’t going to make some dental practice brokers happy.  But the story needs to be told so that the consumer has better information. Some, but not all, banks offer undisclosed “incentives” to brokers to steer clients to them. This incentive is typically around 1% of the loan amount.  $1MM loan = $10,000 check to the broker.  Therefore, brokers have little incentive to encourage Buyers to shop banks for loans, which Buyers should.  Nor do brokers disclose that they...Read More

8-step financial plan for dentists

Facts are facts. Dentists have a more condensed window for achieving financial independence when compared with other career paths. Before their first day as a practicing owner-doctor, the typical Dentist has racked up a few hundred thousand in student debt, been through dental school, residency program, and at lease 2 years of clinical work in  someone else’s practice before being eligible to receive bank funding for their first practice… Late start… Piles of debt…...Read More
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