Dental Practice Loans

Camino Financial30 Oct 2023
A dental practice loan can provide the necessary funds to expand and create a sustainable company. Camino Financial knows that owners and operators in the dental industry need to have access to sufficient capital to run a successful business. Our loans can help them do just that. Apply now!

What Are Business Loans For Dentists?

Dental office loans are lending products that offer lump sum that provide financing for dentists and allows them to make business investments. They are especially important because the dental industry can be quite competitive and supplies and machinery expensive. This creates a cash necessity that business owners need to satisfy fast. Business loans are easy to apply for, quick to fund, and flexible in terms of repayment periods. These make them the financial answer dentists are looking for.

Who Can Benefit From Dental Financing?

There are many types of businesses that can benefit from dental practice loans. This includes:

Family Dental Practice

These businesses can use the funding to market their services and/or upgrade the equipment they use.

Periodontists

These businesses can use dental practice financing to purchase models to show patients how to prevent best gum disease.

They can also finance the tools needed to cure these ailments and specialized implants.

Orthodontists

These businesses can use dental practice loans to pay for modern technological tools that make their jobs easier and more efficient.

They could also finance these expensive supplies needed to do the job.

Prosthodontists

These businesses can use the funding for equipment financing, which is often very specialized and very expensive.

External financing can also allow them to offer payment arrangements to clients.

Endodontists

These businesses can use dental practice loans to purchase or lease the specialized machinery and equipment they'll need to operate.

Oral Surgeons

These businesses can use our loans to purchase high-tech cameras to help make their surgeries more precise.

Plus you can also use loans to pay for courses.
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Dental Practice Loans Requirements And Interest Rates

There are many dental practice lenders on the market, but none like Camino Financial are so hyper-focused on providing well-rounded help and support to small businesses like yours. Our interest rates are very competitive, too, so as to not hamper you with exorbitant charges. So, when you search for the best dental practice loans for dentists, consider online lenders such as Camino Financial.

Microloans
Amount $5,100 to $25,000
Type of payment Monthly
Repayment terms 24 months
Type of rate Fixed
Origination fee 6.99% of the amount
Requirements
  • monthly revenue of or $2,500 (or $30,000 per year)
  • have an active and registered business for at least 12 months

Learn more about our microloans

  Apply today!   [business_loan_calculator]  

Best Uses For Dental Business Loans

There are several ways to use dental practice loans to help vault your business forward.
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Updating Dental Equipment

One of the biggest factors in separating one practice from another is having the latest and greatest equipment.

Dental equipment loans can help your own practice stay up-to-date with the latest technology.

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Pay For Employees

The business expansion comes with a need for more support staff.

You can take advantage of great dental practice loan rates to hire more staff, including a secretary to keep scheduling straight.
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Spruce Up Your Dental Office

Your office is the first impression patients will have of your successful dental practice.

If your office is rather drab, using dental practice lending to spruce it up could result in more patients.

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Pay Everyday Expenses

There may come a time when you are short on cash and need financial assistance.

Dental practice loans can help pay for these everyday expenses such as rent, insurance, and utilities.
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Grow Your Practice

If you are looking to expand your existing practice, add more services or even open a second location, you’ll need capital.

Dental practice loans can provide the funds you need.

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Improve Cash Flow

Dental practices can sometimes experience down months or even quarters.

Dental practice loans can help improve a business's cash flow so it can invest in areas it needs to thrive.

How to Apply For a Dental Practice Business Loan

Applying for a dental practice business loan through Camino Financial is extremely simple. There are four basic steps to getting one of our dental business loans:
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1. Complete An Application

Our completely online application is quick and easy. You'll fill out basic information about you and your business, as well as some financial information. You don't need a business plan to apply.

2. Share Extra Documentation

You'll then upload supporting documentation that supplements what you already have. We’ll also review your bank account’s cash flow.

3. Accept The Final Loan Terms

We'll give you a loan decision within 48 hours. You just have to accept the terms of the dentist's office loans and sign on the dotted line

4. Receive The Loan

After you complete the paperwork, we will deposit it into your account directly within just a few business days.

*The application process may differ slightly depending on which loan you qualify for.

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Why Camino Financial? Advantages Of Our Loans For Dental Practices

Many lenders offer products that you can use for dental practice loans. However, at Camino Financial, we separate ourselves from the competition differently. First, we accept ITINs in addition to Social Security numbers, which makes our loan products available to more people in the U.S. than traditional bank loans. We don't require applicants to have perfect credit scores; in fact, you can apply if you don’t have a previous credit history. We offer automated payments and flexible loan terms that allow you to actually afford the money you're borrowing. We have relatively low requirements compared to other alternative lenders, including a minimum annual income of only $30,000 and a minimum time in the business of only 12 months. We don't require collateral for our loans, ranging from $5,100 up to $25,00. And, we fund our dental practice loans fast, getting you the money you need just a few business days after we finish the loan process.

Other Lending Resources

Business Loan Requirements: The Ultimate Guide

Business Loan Interest Rates 

Interest Rate Hike 2022: The New Average Business Loan Rates

Investing in a Recession: Taking Advantage of an Economic Downturn

 

FAQs

How much does it cost to buy a dental practice?

Dental practices can be very expensive to purchase. On average, an existing dental practice will require an investment of $500,000 or more. That's why getting a loan to start a dental practice could be a good idea.

What are the four types of business loans?

The four types of business loans are secured business loans (which have collateral), unsecured business loans (which don't have collateral), short-term loans, and long-term loans. Other types of business loans are traditional bank loans, SBA loans, merchant cash advances, and business lines of credit.

Is getting a loan to start a business hard?

Getting a loan to start a business can be difficult, especially when you have a student loan debt, so you need to find the right lender. At Camino Financial, we make the application, approval, and funding process for dental practice start-up loans simple.

What financials are needed for a business loan?

Generally speaking, you will need to provide your basic tax returns and business financial reports to qualify for a business loan. The financial institution will consider these among the supplemental documentation.

How much does it cost to set up a dental practice in the US?

Starting a dental practice in the US costs between $350,000 and $550,000. That's why obtaining dental equipment financing can at least ease some of the financial strain related to starting a dental practice. Dental lenders such as Camino Financial can help you on this path, even if you are just out of dental school or have student debt.

*Terms and requirements subject to change without notice.

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