Getting to Yes: Planning Ahead for Financing Approval
Thursday, October 18, 2018
Your business plan should identify what you want to do with the practice over the course of its existence.
Your budget should include working capital, construction, and equipment.
An underwriter will look at your simple income divided by your expenses (your cash flow) when doing the analysis.
Whether you are a new dentist looking to start your own practice or an experienced dentist looking to expand, renovate, or build a new practice, it is important to know what you can do to improve your chance of being approved for financing..
In this eBook, Ryan Kopena, Practice Solutions Business Development Officer at Bank of America, explains essential steps to obtain financing for dental practices. This author describes topics such as business plans, simple cash flow analyses, underwriting, practice equity, and (once you are approved for financing) how to select the right loan.
With all these pieces in place, you will be fully prepared to drive your project to success.