The headline read Doctor Expands in Down Economy! How? He was purchasing Doctor practices. By running an ad that read Doctors - Grow Your Business, he was getting all kinds of interested calls. Since he had expertise at growing a thriving Doctor Practice he was able to convert many of the phone calls to Practice Purchases.
Wow! Exciting right? But how was he getting the capital to do this and grow so rapidly. The answer is simple. He was using small business loans specifically designed as loans for Doctor Practice Purchase. Doctor Practice Purchase financing is available in a variety of forms. From SBA 504 and SBA 7(a) loans for doctors, loans for dentists and loans for professional practices to conventional commercial loans for doctors, dentists and other professional service providers.
These loans are not new but what makes them unique in today's environment is that many lenders actually WANT to do these loans. Loans for Doctors, doctor practice financing and growth capital for doctors, dentists and other service professionals are considered to be 'safe havens' for lending in a down economy.
So, when is the best time to purchase a practice? Now, when financing for doctor practice purchases is relatively cheap and fairly easy to obtain. With very little money out of cash flow (from 0-10% down ... that's right, you may qualify for 100% financing doctor practice purchases), doctors can buy-out a partner, purchase a practice from a competitor and even flip and sell their own practice and prepare for retirement.
To find out more about growing your practice call Dividend America | Commercial Lending. We help doctors expand in a down economy. We can assist with debt consolidation for your practice, restructuring through refinancing, or even up to 100% financing for some Doctor Practice Purchases, we have the experts that can help. Give us a call any time, my direct line is 404-819-4511. I hope you'll consider allowing us to help. Sincerely, Michael Gross, President, Dividend America | Commercial Lending.