Financing Your Dental Practice: A Smarter Bet Now…And Later

The right loan products, from the right provider, can open the door to surprising opportunities for your practice.

If you're starting a new dental practice, or upgrading your existing office, there are some very good reasons why you should consider bypassing the local bank and choosing a specialist in dental financing instead. Let's break the benefits into two categories: now and later.

Right now…

The credit market is tight. You never know when you might need to take advantage of a traditional line of credit, or apply for some other type of loan product. Traditional loans, debt and equity need to appear on your practice's balance sheet. However, certain types of partnerships and leases do not. That leaves your credit untouched, and helps ensure that a major investment like a dental practice won't impact you directly.

So, where can you find out how this may apply to your situation, and how to take advantage of the possibilities? Companies like Clarion Financial, which specialize in lending to dentists, are experts in helping their clients discover the best financing options, many of which might not be suggested or even available from the local bank over on Main Street.

"Clarion Financial has the products and solutions to assist dental professionals in each stage of their practice needs," said Todd Bowe, Director of Finance for Clarion Financial, one of just a handful of firms dedicated exclusively to dental practice financing. He says his firm has helped thousands of dentists, many of whom came to Clarion after talking with other lenders first.

And later on…

You'll find that specialists like Clarion Financial offer contracts that can be added to. Need to add a piece of equipment, like a new x-ray, several years into your loan term? No problem, says Clarion's Todd Bowe. Future purchases can be accommodated simply by adding them to your original contract.

Of course, the tax benefits can extend for years after your initial purchases. For this, it's best to talk to another rare specialist: the dental CPA. You may not realize this, but the Academy of Dental CPAs (ADCPA) has been helping dentists find specialists in their areas, and doling out sound advice that's keyed to the specific needs of the dental profession.

Virtually every dentist borrows money. We tend to think of loans as financial burdens. Yet, by getting great advice from a specialist in dental financing, your lender can actually turn out to be a valued partner for many years to come. That can make writing your monthly loan check a lot more pleasant.