Financing Considerations
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Understanding the Terminology
Understanding the difference between:
Pre-Qualification/Pre-Approval/ Loan Proposal/Letter of Interest
Approval/Commitment Letter
Closing Conditions
Assist in providing the lender with the required information to continue moving the process forward.
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All Banks are Not Created Equal
We work directly with specialty lenders who understand the business of dentistry. Generally they can provide a quick decision and up to 100% financing based on the cash flow of the practice.
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When is the Right Time to Apply for Financing
Practice transitions, projects and refinances should consider the programs offered by the lenders, and consider the timing it will take to complete the process. Check with us to determine the timing of your financing request.
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Understand How the Banks Consider the Financing Request
There the lenders want to understand the strengths of the financing requests. Presenting a complete package of information upfront can save time and spark the interest of the bank to give you the best terms to be considered for the request and continue to move forward.
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Documentation
We will work with you to assemble what is needed for the lenders and assist with closing conditions. The goal is for an on time closing; therefore, while you are chairside, we can be following for what is needed. This will also allow you time to work on the due diligence process and getting to know your new practice.
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All Financing Requests Are Not Alike
All financing requests are not alike. Lenders carefully consider each request based on the strength of the borrower and the practice. The terms and conditions a colleague may have been offered may not be the same as your offer. We can work through understanding your terms and answer any questions.