Start up finance for your dental practice
Setting up a successful new dental practice will depend on access to the funding you need
A career as a dentist means professional skills. But using those skills to start your own dental practice will depend on investment.
You will need a surgery. A high street location might be essential.
You will need equipment. You need to invest tens of thousands of pounds into a chair, your drill, hands tools, autoclave, x-ray… the list goes on.
You will also need trained dental staff, and working finance until your new practice finds its feet.
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 they will consider 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 solutions, and the lenders who can provide startup funding.
The types of funding you might consider for your dental start-up
Commercial Mortgage for your surgery premises
Premises will be a major cost for your new practice, but buying with a commercial mortgage may cut costs compared with leasing. Find out more about Commercial Mortgages here.
Commercial Loans for your basic costs
There are two types of commercial loan. Secured Loans may be suitable for larger sums, while Unsecured Loans can be arranged quickly.
Asset Finance for your dental equipment
Asset Finance covers a range of funding solutions designed to let you spread the cost of equipment. Hire Purchase lets you acquire equipment straight away, with a single deposit payment and spread the costs in regular monthly installments over up to 5 years. Leasing works much like a rental agreement. It lets you use the equipment without having to buy 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. 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 that could be provided by a single finance option - and reduce costs.
REAL EXAMPLES OF WHAT WE CAN DO
Find funding to allow a new practice to acquire premises
Help find the most competitive funding to fud the first months of a new practice
Source a professional loan for dentist ready to start a practice
Find the most competitive lender for equipment and spread the cost with HP
Help arrange ‘jigsaw’ funding for all aspects of a startup
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 Finance, Asset Finance, Merchant Cash Advance, Commercial Mortgages, Growth Finance and more.
To find out more about setting up the finance you need to set up your dental practice simply call us. Our experts are ready to help.
Meet real dentists who have recently started up
Helping you build your profits
Funding to suit your plansEvery practice is different, and we can work with you to find financial solutions designed around your particular circumstances.
Take your pick of the lending marketWe understand all types of business finance, and have mapped thousands of products from hundreds of suppliers.
Experience in the dental sectorOur expert team includes people who have worked with dental practices. They understand the challenges you face, and know the answers.
Jigsaw FinanceYou 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 supportGovernment start-up funding can help provide the investment you need. At Rangewell, we can help you secure it.
Finance that can grow with youHaving 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
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?
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.