Refurbishing an existing one to create a stunning environment for staff and patients alike? Purchasing a new dental practice that needs some work? If so, here are some reasons why using finance could help you and your practice:

Fixed Rate

Fixing your repayments enables you to budget and forecast accordingly whilst protecting you from the uncertainty of rising interest rates. Fixing the rate can be cheaper long-term, as you won’t be affected by rising interest rates.

Unsecured

Unsecured finance applications are often less complex than their secured equivalents, meaning that capital can often be accessed quickly. No large set-up or legal fees are required and as no assets are required to take out this finance, there is reduced risk for the borrower.

Tax Efficient

You can usually deduct the full cost of equipment and interest payable from taxable revenue by entering into a financing agreement. The net cost is often less than the sum actually borrowed.

It helps you acquire the equipment

Financing makes equipment more affordable by spreading costs over a reasonable period. Your monthly repayment is a small portion of the total cost of the equipment, allowing the very best equipment to be acquired.

Cashflow Management

Financing allows for more affordable monthly payments that can increase cash flow, enabling you to use money elsewhere, such as business opportunities, investments or even paying down expensive variable rate debt. Payments can also be scheduled to coincide with your business’ seasonal cash flow.

Supports Business Growth

Finance can support business expansion, such as funding new premises, purchasing equipment or recruiting staff and paying wages. Crucially, finance can be arranged quickly to help you take advantage of opportunities when they arise.

Helps Inflate the Debt Away

Finance enables businesses to pay off debts using money that’s worth less than when they borrowed it. For example, if you have a five-year fixed agreement every year when you increase prices, the interest cost becomes relatively less as a proportion. Only fixed costs benefit from this.

Maximises Credit Available

Using your finance in the right way and at the right time can improve your credit rating. Not using all your available credit can indicate that you manage your money responsibly.

Provides a Quantifiable Return on Investment

Financing enables you to obtain new products and equipment when needed. You can also predict the return on investment by measuring low repayments against the higher revenue the equipment will bring.

Takes Away the Stress

The lack of an emergency cash fund can be stressful for business owners. The income your business generates may not always be predictable and stable, especially in light of unforeseen events. Financing a cash reserve can help you to ‘ride the storm’, particularly if faced with other investment