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Start-up funding for your Dental Practice

We know the lenders who can help

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Funding options

£

Asset Finance

  • Spread the cost of any equipment
  • Use the latest technology
  • Buy with monthly payments
  • Lease with no upfront cost

Loans

  • Secured and unsecured loans
  • Borrow for any purpose
  • Predictable monthly repayments
  • Tailored to your cashflow

Any funding need

  • Equipment
  • Deal with overheads
  • Pay staff
  • Fund marketing - training - development

Talk to Rangewell – the business finance experts

If you are ready to launch your own dental practice, at Rangewell, we’re ready to use our contacts across the entire UK lending industry to provide the funding you need.

At Rangewell we recognise your professional status, and we work harder to find you better solutions - which can include 100% finance for many of your needs.

Dental practice start-up loans

We can help you understand all your dental practice funding options

Funding a start-up of any kind can be challenging - but Rangewell works with lenders who can help.

A career as a dentist means professional skills. But using those skills to start your dental practice will depend on the investment you have. 

You will need a surgery to work from and to ensure you have access to as many customers as possible; a high street location might be essential.

You will need equipment, which means that you may need to invest tens of thousands of pounds into a chair, your drill, hand tools, autoclave, and x-ray machines. The list goes on.

You will also need trained dental staff and working finance until your new practice finds its feet.

Ready to start your own practice?

Find the funding you need quickly and hassle-free

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The challenge of funding your new dental practice

The problem is that traditional lenders are only interested in lending to established businesses with years of audited accounts. Even the new breed of online business lenders usually want evidence of a year’s trading with online accounts and VAT returns before considering an application.

You could dip into your savings, look for angel investors or find another route. But there are ways to raise the money you need. At Rangewell, we can show you the financial solutions and the lenders who can provide start-up funding.

The types of funding you might consider for your dental start-up.

Commercial Mortgage for your surgery premises

Premises will be a high cost for your new practice, but buying with a commercial mortgage may cut costs compared with leasing. Find out more about commercial mortgages here.

Your start-up will need more than premises

Find the right type of funding for every type of challenge you face

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Commercial Loans for your basic costs

There are two types of commercial loans. Secured Loans may be suitable for more considerable sums, while unsecured loans can be arranged quickly for smaller amounts. 

Asset Finance for your dental equipment

Asset finance covers a range of funding solutions designed to let you spread the cost of equipment. For example, hire purchase lets you acquire equipment straight away, with a single deposit payment and spread the costs in regular monthly instalments over up to 5 years. Leasing works much like a rental agreement. It lets you use the equipment without buying it, with a payment each month to the finance company. 

‘Jigsaw’ finance - tailored to your dental start-up plans

Setting up a practice may mean a range of funding is required. For example, we can provide jigsaw funding - a bespoke package made up of the most appropriate type of funding for each need. We have found that it can help people ready to make the most of their business, access a higher level of funding provided by a single finance option - and reduce costs.

Getting the help you need from Rangewell

Coming to Rangewell means getting financial experts working for you and your new practice.

We can discuss your objectives and help find answers that are right for you, with financial solutions that include professional loans, unsecured and secured loans, invoice financeasset financemerchant cash advancecommercial mortgagesgrowth finance and more.

Whatever type of dental loan you need

Speak to our dental funding experts  

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To find out more about your dental practice financing needs, simply call us. From finding the finance you need to grow your dental practice to refurbishing a dental practice, or any other type of loans for dentists, our experts at Rangewell are ready to help.

Discover our range of finances

Every type of finance for every type of business

Our goal is very simple - to help businesses find the right type of finance as quickly, transparently and painlessly as possible.

Helping you build your profits

  • Funding to suit your plans
    Every practice is different, and we can work with you to find financial solutions designed around your particular circumstances.
  • Take your pick of the lending market
    We understand all types of business finance, and have mapped thousands of products from hundreds of suppliers.
  • Experience in the dental sector
    Our expert team includes people who have worked with dental practices. They understand the challenges you face, and know the answers.
  • Jigsaw Finance
    You may need finance with different types of lending for specific purposes. Because we cover the entire business lending market, we can help you find tailored jigsaw funding.
  • Getting government support
    Government start-up funding can help provide the investment you need. At Rangewell, we can help you secure it.
  • Finance that can grow with you
    Having flexible funding that can grow with you could help you make the most of the potential of your practice.

Download Rangewell’s free and detailed guide to Funding your Startup

What finance is available for startups?

Can a loan get your business off the ground?

What are the real costs?

Why you must find the right lender - and why most lenders can’t help

The downsides of borrowing

What are guarantees and security?

Key Terms to check

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Money management skills are essentialManaging money is key to a successful business. You’ll need to understand banking, cashflow, bookkeeping and accounts, and more.
Loans have to be repaidIf you secure lending to launch your business, you will have to repay it from the profits you make. You need to be confident that your business can generate the necessary funds.
Can you afford to risk your assets?You might have to take out a secured loan based on the value of your home. What if your business failed and you were forced to sell your house?

Frequently asked questions

Have a question?

How much does it cost to start a dental practice?

How much it costs to start a dental practice will depend on a vast range of factors, including:

  • The location of the site
  • What type of building you're trying to acquire to put a dental practice into
  • What equipment you'll be putting into the practice
  • How many surgeries you'll be putting in your practice
  • How much the building and design work will cost

The ballpark figure for starting a dental practice is anything between 100k and 500k. These days an average of about £200,000 to £250,000 is probably more accurate. 

How do you qualify for a dental practice loan?

There are several things a lender will look at when deciding whether to lend. From a practice point of view, the bank will look at the number below and feel them into the cash flow model. Then, they'll use this model to project how much money you'll make as an owner of the practice you're considering and if you can afford to make the repayments.

Collections - How big is the practice? Are collections growing or shrinking?
Profitability - How much money do you keep aster paying all the expenses of the business.
Hygiene production - What percentage of the patients come for hygiene? What comes from new patients? Who are returning patients?

Your creditworthiness - The majority of the decision to lend money will depend on the economics of the practice; you'll still need a solid credit history. It's not to say a lender won't work with you if you have a bad credit history. It just may be a different process. 
The bank will run a credit check, so make sure your credit score is in the best possible way. 

The bank will then look to see if you're responsible with money, so they'll look at things like how much debt you have, how much ingoing and outgoings you have, if you've defaulted on any payments, and your monthly credit allocation. They'll be looking to see if you're spending every pound that hits your bank and if you can make monthly payments. They could also ask to see a business plan, bank statements for the past couple of years, and information on your current assets. 

When you get the loan, make sure you look at the term, the repayment penalty requirements, and the fees involved. 

Can anyone own dental practice?

Yes, a non-dentist can own a dental practice. Ownership of the physical building is pretty straightforward. Most dental practices in the UK are owned by landlords separate from the dental profession, and the occupying dental business will pay rent to the landlord. 

Non-dentist cannot set up or buy dental practices as individuals or partners, but they are permitted to be shareholders of a limited company that owns the practice. 

What is the cost of running a dental practice?

The average dental practice can expect an annual turnover of around £500,000 with costs including:

  • Materials - £40,000
  • Lab fees - £36,000
  • Staff costs - £82,000
  • Other costs (including associate fees) -  £275,000

Leaving you an annual average yearly profit of £90,00. 

Every practice is different, so this is more of an average cost.

Question Not Answered?

Our finance experts are waiting to answer questions and discuss your finance options. Get in touch with us and we'll be happy to help.

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