Finance for Dentists | Dentist Finance | Finance Help for Dentist Practice

Finance for dentists

Finance for dentists 750 400 Lorna Slee

The Dentist industry has seen considerable growth over recent months, driven by a demand to provide more services and quicker treatments. Owners of dental practices are having to explore how they can become more efficient whilst also devising business growth plans to capitalise on growth potential during these busy times.

Our team have recently supported a dental practice in Berkshire to secure funding of £480K to assist with purchasing another practice along with a full fit out of new equipment. We have also assisted a dental laboratory in Oxfordshire, who specialise in making dental implants, to secure funding of £500K for working capital to fulfil growth plans. These are just 2 examples of how business finance can be used to help dental practices to fulfil their growth plans.

There are several good business finance products available to consider:

  • Hire purchase will allow the immediate acquisition of assets with payments spread out over a set period of time. This makes cash flow and budget management very easy and there are also some good tax benefits available.
  • Leasing will allow you to always have access to the most up to date technology and equipment without having to purchase it. With no upfront deposits and a fixed payment plan, budgeting is made very easy.
  • Business loans allow all types of funding needs to be met whether you are looking to acquire a second practice, undertake a practice refurbishment, boost cashflow or looking for buy-out options there are a range of solutions available.
  • Commercial mortgages will allow the purchase of the practice property helping to secure the long-term future of the business whilst also providing a security net for future growth plans.

Of course, any business can only be successful if they have the right staff in place. However equally as important for any dental practice is the services it can provide and the specialist equipment required. Business finance can be utilised to secure a whole host of equipment including:

  • X-ray, imaging and scanning machinery
  • Practice furniture
  • Sterilising equipment
  • Decontamination solutions
  • IT equipment

Another key area which our team can offer a specialist solution for, is business restructure support. Undertaking a business restructure is not any easy process, there are many steps and various specialists to be consulted. We have developed industry knowledge and can select a team of experts across a broad spectrum of fields to ensure any business restructure is shaped correctly to enable future acquisitions and fulfil growth plans.

If you would like to find out more about our finance solutions solely for dentists, then our team would be delighted to help. Please call us on 01993 706403 or e-mail enquiries@ngifinance.co.uk.

We can provide you with tailored business finance solutions.

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