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How to get the best dental practice business loan

Getting a Business Loan Shouldn’t Be Like Pulling Teeth

Borrowing Money Shouldn't Be Like Pulling Teeth

Are you just out of dental school? Have you been practicing dentistry for years? Either way it’s inevitable that you’ll need to get a small business loan or additional working capital for your business.

So how do you get a small business loan? Typically the first place you think about when you need a business loan is the bank. Now every bank has its own policies and procedures.

Basically they all look for the same info. You need to pull together all of the documents which will be needed to get a small business loan.

Here is the typical short list to apply for a business loan or working capital:

  1. COMPLETE AND SIGN THE APPLICATION
  2. BUSINESS INFORMATION
  3. 3 YEARS BUSINESS FINANCIAL STATEMENTS
  4. RE DEED
  5. 3 YEARS BUSINESS TAX RETURNS
  6. SHAREHOLDER LIST
  7. PERSONAL FINANCIAL STATEMENTS
  8. BUSINESS CREDIT REPORT
  9. A/P AGING REPORT
  10. RE APPRAISAL
  11. 3 YEARS PERSONAL TAX RETURNS
  12. INVENTORY AGING REPORT
  13. D-U-N-S NUMBER
  14. PERSONAL CREDIT REPORT
  15. BUSINESS PLAN
- RE SURVEY
  16. FF&E SCHEDULE
  17. COMPANY BYLAWS
  18. INSURANCE INFORMATION
  19. FINANCIAL FORECAST
  20. CORPORATE/PTR/LLC ARTICLES
  21. A/R AGING REPORT
  22. RE ENVIRONMENTAL REPORT

Most Dentists think that the best idea is to get a small business loan from a trusted place like from your personal bank. You’re not alone. Almost every business owner thinks that the local bank is your best bet.

Unfortunately, it’s challenging to get a business loans from banks. They no longer give preferential treatment to the medical community. In fact they are going to look at you and treat you like any other business.

Be prepared! The application and business loan process at the bank can be a very lengthy. On average it takes visiting 3 banks and some 28 hours to pull all of the documents together. And then add the 60 to 90 days to review your small business loan request

Alternative or business loan lenders and the business loans like those provided by Sunwise Capital (http://www.SunwiseCapital.com) can make it much easier. Our paperwork includes a one-page application and just the last 3 months of your business bank statements.

The process is fast and easy. We will approve your application in 24 hours and can provide the working capital you need in a day or two. Our terms offer fixed or flexible payments and can get you between $10K to $2M.

Whether you’re looking for equipment, expansion, advertising or payroll we make getting a small business loan fast and easy.

Let’s face it, getting capital for you’re business should not be like pulling teeth.

 

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