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Top 5 Dental Practice Financing Companies

Posted On: September 2, 2020 author Paul Kendall

Do you need help choosing among the best dental practice financing companies?

Every dentist knows that the field of dentistry is very competitive. This leaves many dentists looking for practice loans from dental practice financing companies in order to get a head start on their competition under low interest rates.

However, financing a dental practice loan isn’t as easy as financing equipment. This is an entire practice that you will have to manage and grow even after paying the entirety of the loan.

Other than that, a dental practice won’t grow with just a dentist alone. A dental practice also needs staff, such as dental hygienists, assistants, lab technicians, and office personnel.

A dental practice also needs its own equipment that is only possible with the financing option. Eventually, you will have to finance equipment and supplies ranging from X-ray machines to dental chairs.

With all of that said, choosing the right one among dental practice financing companies will be crucial. Choose the wrong one and you may end up dealing with debt for years.

Fortunately, this blog can make it easier for you to choose among dental practice financing companies. That’s because I’ve compiled a list of the top 5 dental practice financing companies available.

Choosing the Right Dental Practice Financing Company For You

 

As mentioned before, it won’t be easy to choose among dental practice financing companies because there is an abundance of them. A lot of dental practice financing companies also have various programs available to choose from.

With that in mind, it can also be hard to determine which programs would be best for your situation.

However, the list in this blog post aims to help you narrow down your search among dental practice financing companies. To start off, allow me to discuss the programs that Highland Capital Corporation offers with dental practice financing options.


 

Top 5 Dental Practice Financing Companies - dental practice 1

 

Highland Capital Corporation


Highland Capital is a New Jersey-based traded lender with over 50 years of collective experience in equipment finance. As one of the top dental practice financing companies, they aim to assist healthcare professionals to acquire the technology that they need in order to grow.

HCC does so by helping you grow your lines of credit through the replacement of obsolete equipment with updated technologies. They provide dental equipment by being a dental practice financing company that works directly with manufacturers and equipment distributors.

Their product line aims to meet dental equipment needs at all practice stages and includes the following:


  • Finance agreements.

  • Conditional sales contracts.

  • Fair market value programs.

  • Electronic signature documentation.

  • Deferred & graduated payment plans.

  • Cost-per-use programs.

  • Vendor pass through programs.

  • Soft cost allowance.

  • Advance funding.


If you happen to be part of the last batch of consumers to receive certain equipment, you also don’t have to worry. This is because they also provide End User benefits such as:


  • The ability to overcome budget limitations.

  • 100% business financing options available.

  • Preservation of working capital and bank personal credit lines.

  • Increased competitive advantage.

  • Strategic tax advantages.

  • Affordable payment plans.

  • Regular upgrades for obsolete equipment.


 

Bankers Healthcare Group


Another one of the highly rated dental practice financing companies is Bankers Health Group. They are a company that is committed to providing healthcare professionals with innovative financial solutions in the industry.

BHG prides itself on its streamlined loan process. If you choose them from among other dental practice financing companies, they can provide 24-hour approval and funding for up to $500,000 in 3 days.

BHG’s innovative solutions don’t stop there, of course.


They can provide cash flow calculation for you to avoid delayed insurance reimbursements. They deem this an important solution because they are aware that general practitioners receive 43% of their gross billings directly from insurance reimbursements.

They also offer debt consolidation to eliminate extra hassles from your schedule or your cash flow. This is because slow reimbursements and various payments and receivables often lessen the time that most dentists have.


 

Top 5 Dental Practice Financing Companies - dental practice 2

 

Great America Financial


Great America Financial is one of the dental practice financing companies stationed in Georgia, Minnesota, and Missouri. They are also known as one of the dental practice financing companies that provide counseling services to all fifty states and some U.S. Territories and sba loans.

Great America prides itself with their financing programs that are tailored to fit various industry nuances and market segments. Each program can be customized to respond to the needs of their clients.

One of the solutions that they provide is an option for clients to bundle equipment, consumables, services, warranties, and software on a single invoice. This allows you to acquire a total solution and secure service contracts to the full term loans.

They can immediately provide you with equipment and you will have up to 6 months to decide how you want to pay for it. This can be ideal for practices that need to manage their working capital and operating budgets.

They also have a 90-Day deferred payment that allows a practice to begin generating revenue from their equipment before payments begin. This allows their clients to ease into their payments.


US Bank


Another one of the leading dental practice financing companies is US Bank. They have leading national programs because of their dental practice loans and student loan.

They aim to help professionals sell their dental practice while also assisting their buyers. They also aim to ensure that both parties go through a smooth process in acquiring the dental practice loans.

They also offer superior customer service as well as their own Practice Finance program. This program can be beneficial in helping finance buy-in and buyout for small business loan.

Their Dental Practice Finance program includes:


  • 100% financing available.

  • No down payment required.

  • Terms can be up to 10 years.

  • Multiple prepayment penalty options.


 

Top 5 Dental Practice Financing Companies - dental practice 3

 

Trust Capital


Lastly, another one of the renowned dental practice financing companies is Trust Capital. They offer a variety of unique financing programs for every dental practitioner.

They have specialized financing programs for dental practitioners. They are also able to finance up to $500,000 in equipment without any financial information other than a simple one-page application.

Their financing program supports startup practices as well. This means that new dental practitioners who are looking to acquire an existing dental practice or are just simply starting their business can partner up with Trust Capital in order to grow your business.

They also approve dentists with a good credit score and bad credit reports. Other than that, they have better rates than banks for qualified borrowers. In addition, they don’t require a down payment for these.

Those seeking dental practice financing companies can avail of Trust Capital’s practice acquisition loans. Your working capital loan can even be up to $1,000,000.

Dental equipment financing is also available from the company and a working capital loan. They don’t require down payments and terms can be up to 7 years. It is also worth noting that this financing is eligible for new or used equipment.

Trust Capital also prides itself on speedy approvals. In some cases, approvals can be done within the day.

To add to that, they have competitive, dental practice fixed-rate loans starting at 5% with terms up to 10 years. You also get to choose your repayment options. You can include cash for staff, expansion, remodeling and equipment

If you need further financing help, they actually offer personalized assistance with essential practice banking services. Complimentary planning tools are also available to help you navigate the acquisition or start-up process.

Trust Capital also has Small business administration loan programs for dental practices. For a 10 year loan, you could be looking at rates from 5-8.5% with an approval/denial process that will take only a week.

Lastly, the company offers a milestone program for new owners.


Final Thoughts on Dental Practice Financing Companies

 

In this blog, I’ve listed the top 5 dental practice financing companies that you can choose from. Although choosing among dental practice financing companies can still be tough, this blog should have made it simpler by laying out your best business finance options.

Choosing among dental practice financing companies is crucial for the future of your practice. This is why you should do your research carefully in order to ensure that you’ve gone through every option available to you before finalizing a business loan decision.

This blog has given you a head start on your research already. With dental practice financing companies like Highland Capital Corporation, Bankers Healthcare Group, Great America Financial, US Bank, and Trust Capital, you can get the business financing you need. Now you just need to compare them to see which company best suits you.

However, if you need further help with choosing among dental practice financing companies, you can contact Trust Capital at (866) 458-4777.
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