The FiSol Perspective

How a Loan for Your Dental Office Could Change Everything

  • July 02, 2021 by Marty Newton
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If you've taken the time to go through dental school unscathed and emerge on the other side, then you're probably ready to practice your skills and make some money. But with student loans piling up and the cost of running a dental practice increasing every year, it can be hard to find the time, money, and energy to finally put your skills to work.

Instead of having to start from zero and figure out how to put your dental skills into the world, you should consider investigating business loans for dentists to help you out. Not only are the terms wonderful, but you'll finally be able to use a great tool to get you started in your professional career. Once you see the benefits that these loans can provide, we think you'll agree.

You Have Startup Costs

If you are starting a dental practice from scratch, then you have startup costs you need to fund. Financing the equipment, computers, dental supplies, and software for a dental practice can run anywhere from $190,000-$200,000 and we're willing to bet that you don't have this sitting around in a bank account somewhere. If you're not looking to buy, dental equipment financing or rental may also be an option.

Even if you've had a practice for a while, if you go about updating your office you could find yourself in "startup" or "new business" mode all over again. By looking into dental equipment loans, you're simply doing the practical thing for yourself and your employees. Just like how you'd shop for new insurance for a car and determine your overall costs before buying, evaluating the terms of loans for dentists can both cushion the blow of revamping your office or help you on your way toward becoming a professional right out of school.

You Want to Purchase and Create Your Own Practice

Perhaps you've been working at someone else's dental practice and want to finally branch out on your own, or have finally graduated from dental school. Regardless of what you're doing, it can be difficult to start a practice from scratch. Not only do you have to find a place to rent, purchase equipment, and hire staff, but your first choices may be rejected and you may lose out on valuable time (which equals money). Instead, for aspiring and new dentists it can be much more profitable to purchase an existing dental practice and make it your own. Not only will you have a customer base built into your new practice, but much of the staff and the equipment will stay with you. Instead of building something from the ground up, you can use dental practice purchase loans to help you get established in a practice that is already off the ground.

Meeting Payroll During Less Optimal Times

When times are good and everyone's coming in for teeth cleaning or cavity treatment, you probably don't worry much about meeting payroll. But what about when times are bad, and either nobody wants to come into your office or they're not able to? Whether you're facing a global pandemic or regional snowstorm, there are many events that are out of your control that can shut down the world and your business. Instead of firing your entire staff and having to start from scratch down the road, consider using business loans for dentists to meet payroll when times are bad, then repaying the loan and saving when times are good. It's much less expensive than using a credit card and less destructive than letting your staff go just because you don't have cash flow.

One Loan to Fit Many Circumstances

By doing proper research and finding business loans for dentists that work for your specific situation, you can launch your dental career without so much as a snag. No matter whether you need to purchase X-Ray equipment or meet payroll, business loans for dentists can help you get the job done correctly the first time. When you're ready to get the ball rolling on your new or existing practice, make sure to contact FiSol DVO for all of your dental financing needs. It might the best investment that you ever make for your patients!