Funding Your Practice

Funding Your Practice

by | 25 Oct 2022 | News

You’ve done your business planning and found the perfect site for your new practice. With such a significant investment at hand, you might be wondering how you will afford it and who you can trust to guide you through the purchasing process. At JS Medical & Dental Finance, we understand the challenges medical and dental professionals face when purchasing a new practice. Our online guide discusses the key components necessary to successfully launch and provide for the longevity of your new practice so you can get started the right way. Keep reading to learn everything you need to know about funding your practice!

Practice Ownership Begins with You

Whether you’re expanding an existing business or embarking on your first venture, funding your practice involves making the best financial decisions possible. So where should you start?

Find a financial specialist you can trust. Look for a financing partner who offers practice ownership strategies such as:

  • Tailored advice to help reach the financial goals of your new practice
  • Evaluation of your income and expenses to improve your business plan
  • Reviewing your credit score to allocate the best options for your loan
  • Maximising your borrowing capability and extending the value of your loan terms

At JS Medical & Dental Finance, we’ve helped practitioners procure medical practice funding in the healthcare industry for more than 21 years. We know the importance of depending on someone who will secure the medical practice loan that’s right for you.

What to Consider When Purchasing a Practice

When purchasing a practice, the value of your loan is only as good as your interest rate. High monthly payments on your loan or business line of credit affect your overall income and determine your practice’s future growth potential.

To fund your practice, work with a lender who takes the time to understand your budget, both for the down payment and for the loan term. With interest rates you can afford, you’ll have the freedom to plan a successful future for your business and overcome any unexpected costs. Other considerations that come with funding your practice may include:

  • The overall value of your practice
  • Opportunities for government grants
  • Permits and zoning laws
  • Staffing requirements and contracts
  • Insurance coverage

Get Help Purchasing a Practice from Medical and Dental Industry Experts

As a medical or dental professional, you have different needs than other business owners. Rely on JS Medical & Dental Finance to help start funding your practice! Call 1300 829 134 to speak with a financial specialist today.

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Contact one of our finance specialists to discuss how we can help enhance the level of care you provide as a healthcare specialist.