As a dental practitioner, you probably have some major investment needs. To answer them you must have financial solutions that recognize the scale of your business and your professional status.
Whether you are looking to acquire a practice, refurbish the one that you have, or expand your practice further; finding the finance for such ventures can be stressful and time-consuming.
Loans for equipment
We understand that specialist equipment is vital to the dental profession. At Think Business Loans we are able to offer to fund for dental equipment such as X-Rays, scanners, imaging units to IT and office systems, as well as provide funding for updating.
Loans for expansion and growth
Growing your business can require a substantial amount of finance to complete successfully. Here at Think Business Loans we understand and want to help your aspirational goals, whether that may be a refurbishment of your current practice or an expansion to a new practice, we are able to help you provide the finance.
- Preserves your working capital.
- Access to high standard equipment.
- Allows you to expand/ refurbish without being tight on cash flow.
- Can work out more expensive than buying the equipment outright.
- Depending on what loan type your business decides to commit to, you do not own the assets so they cannot be classed as an asset within the business
- If the assets you want to use as collateral are given a low valuation, it could substantially reduce the number of funds you're able to obtain.
- Costs can be high when your asset is industry-specific or there is a limited appeal from the lender.
The client provides high-quality products and services for Dental Practices and Laboratories across the UK. They have been running for over 15 years, they are an established business and competitor within the dental industry and have undergone expansions that have allowed them to introduce the newest technology and equipment.
The client needed a loan to help with cash flow whilst they were out of their busy season. After talking through the terms that the business required, it was mutually agreed that the best option was to use a business overdraft. The reasoning behind this was due to the short period of time that they required the loan for which is ideal for a business overdraft.
A business overdraft gives you flexible access to cash when you need, and you only pay for the amount you borrow. Business overdrafts can be a really useful way of accessing working capital when you need the cash quickly as well to provide the working capital that covers a company's short-term operational needs.
Benefits of using a Business Overdraft
- Being able to borrow and repay quickly.
- Unlikely to have restrictions on the finance.
- Short term loan to help with cash flow whilst business is quiet.
- No collateral is needed.
The business overdraft was quick and simple to obtain for the client, which allowed them to carry on with business as usual within the quiet season without the added pressure of cash flow problems; as there was cash on hand as a safety net.
To read more information on business overdrafts click here.
We understand that running a business is time-consuming and can be stressful needing to source finance from a lender. That is why at Think Business Loans we help take away the pressure by guiding you to the best loan for your business.
You can either phone to speak directly to our experts at 0203 880 9880 or complete the loan journey below to find out your eligibility for a range of loans.