How will you finance your next practice acquisition?
As you probably already know, the major dental lenders that finance start-ups and acquisitions do not necessarily have the same appetite for financing dentists who own multiple practices. Some lenders may commit capital only if you (the dentist) work in each practice or may commit only up to a certain number of locations. Banks have parameters for what kind of dental ventures they will fund, and which ones are deemed too risky for their own taste.
So, what have you heard about financing multiple practices these days? Has COVID made it easier or harder to buy a new location? Which lenders are still hungry for the right deal?
We’re starting a discussion thread on our private Facebook Group, called the multi-practice dentist huddle. Come over to see who’s doing deals and who’s becoming shy.
Chris Salierno, DDS, is the chief editor of Dental Economics and the editorial director of the Principles of Practice Management and Group Practice and DSO Digest e-newsletters. He is also a contributing author for DentistryIQ and Perio-Implant Advisory. He lectures and writes about practice management and clinical dentistry. Additional content is available on his blog for dentists at ToothQuest. Dr. Salierno maintains a private general practice in Melville, New York. You may contact him by e-mail at [email protected].
