Funding for Dentists to buy a competitor

You may be able to double your patient list and turnover, substantially increasing your profits, and make important savings from scaling up your operation. But if it is worth buying, the dental practice you want will be expensive - you will be dealing with costs of £100,000, and more in many regions.  How can you find the funding to make the necessary investment?

At Rangewell, we work with dentists across the country. We can help you use your special status to get up to 100% funding when you want to buy a competitor.

Using a Goodwill Loan

You may feel that you cannot simply withdraw money from your existing practice. Reducing your working capital would cause problems with cashflow and jeopardise its future.

. A Goodwill Loan, also known as a Capital Withdrawal Loan or Cash Out, can let you access the value in your business without withdrawing funds from it.

It lets you use the goodwill built up in your practice as the security for a loan. It can bring you a sum comparable to your annual turnover, probably in excess of  £500,000, with repayment terms of up to 15 years.

Goodwill Loans are particularly suitable for dentists as they recognise your professional status with very competitive rates.

Raising funds with a Commercial Mortgage

If you own the premises where your current practice operates, you may be able to remortgage them to raise the cash you need to buy a competitor. Commercial Mortgages work much like a residential mortgage and can be used to provide a high level of funding with up to 20 years to repay.

Secured loans

Secured Loans can provide a high level of funding, with rates that can be as low as 2% above base rate, and ten or more years to repay. They are secured because they are supported by security, such as your existing premises or your home, that the lender can take and sell if you became unable to make repayments.

Unsecured loans

Unsecured business loans are a straightforward way of borrowing, and operate much like a personal loan which can be used in any way you wish. The loan is repaid in monthly or quarterly installments over an agreed term under 5 years.  

‘Jigsaw’ finance

Acquiring a competitor dental practice may mean a range of funding requirements that don’t fit a single solution. We can provide Jigsaw funding - a bespoke package made up of the most appropriate type of business funding for each purpose. 

The finance you need to buy a competitor

Many lenders will be happy to work with you - but not all will be able to offer the most competitive solutions.

That's why you need Rangewell. We will work with you to understand your business plans and use our expertise to help find the funding that meets your needs when you want to buy a competitor. 

To find out more about setting up the finance you need to buy a competitor simply call us. Our experts are ready to help.