Funding for Dentists to buy a competitor
Grow your patient list and biuld your profits
Talk to Rangewell – the business finance expertsBuying a competitor may be the best way to grow your dental practice - but it can mean a very large investment. At Rangewell, we can use our contacts across the entire UK lending industry to provide the scale of funding you need.
Are you a Dentist running a successful practice? How can you take your dental practice to the next level? The solution could be to acquire 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 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 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.
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.
REAL EXAMPLES OF WHAT WE CAN DO
Help arrange a 100% loan for a dentist, as the basis of an acquisition plan
Find a lender to provide a commercial mortgage to acquire a business
Help arrange jigsaw funding for every stage of an dentist’s expansion programme
Find the most effective source of funding to support an dentist's expansion plans
Meet real dentists who we have helped
Helping you build your profits
Funding tailored to your needsFunding can be drawn together from several sources and tailored to your needs.
Funding that recognises your statusAs a professional practice owner, you maybe able to enjoy preferential rates for borrowing.
No need for extra security with Goodwill LoansGoodwill Loans are secured on the future performance of your practice - there is no need to put your assets or possessions at risk.
Covering all the costs with jigsaw fundingWe can help you arrange bespoke funding tailored around your needs.
Early repayment optionsSome loan providers will accept early repayments, reducing the total cost of your borrowing.
Cutting borrowing costsAt Rangewell we search the entire UK lending market to find the most appropriate solutions for your funding needs, helping you reduce the costs of your expansion plans.
Download Rangewell’s free and detailed guide to Business Lending
What kinds of business funding are there?
Why you must find the right lender to cut costs
The downsides of borrowing
What paperwork will you need?
Guarantees and security
Key Terms to check
A long-term commitmentA funding package will mean a long-term commitment, with ongoing monthly repayments.
You may need to repay if you sellIf you sell your business, you will need to repay your funding.
A personal liabilityLoans will be secured on your existing practice, but you may be personally responsible for their repayment.
Our service is...
ImpartialTransparent and independent, treating all lenders equally, finding the best deals.
In-depthEvery type of finance for every type of business from the entire market - over 300 lenders.
In-personSpecialist Finance Experts support you every step of the way.
FreeWe make no charge of any kind when we help you find the loan you need.