Updates in Practice Financing, and Answering Listener Lending Questions
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Show Notes
Danny Cammarosano is a regional director of practice finance for Provide. Provide is a tech company that has entered the dental practice lending space and has grown to be one of the top players for financing dental practices. Provide sets itself apart from the other big players like BOA and WF by offering better customer service and a more practical approach to lending. Danny shares updates to what's been changing in the practice lending space in this new era of high build-out costs, inflation, and elevated interest rates. Some of the topics that Danny covers:
– What are the higher loan amounts that new practices are qualifying for?
– What makes for a good borrower, and are business plans necessary?
– How are repayments being structured, and how can you avoid prepayment penalties?
– What is the lending forecast and what's expected to change over the coming 1-2 years?
– What should a dentist consider if looking to purchase real estate or do a ground-up buildout?
– How does lending change if the borrow has an established first practice and wants to open a second location?
– How much will a bank lend for a partnership buyout, and is there a limit for a high production/expensive practice?
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