Business Loans for Dentists – The Dental Practice Funding Experts


Business Finance for Dental PracticesAre you looking for funding or a business loan for a dental practice? As a leading alternative finance provider, we have helped professional dentists across the UK to secure finance.

The UK dental sector has seen significant growth in recent years, due to the demand in cosmetic treatments.

In 2019 Christie & Co Dentistry report was issued about the current state of of the UK dentistry market and the way it is dominated by Independent dentist practices and their strong market dominance polls with over 8000 independent clinics nationwide.

Results show there are around 2,500 small dentist groups and only 1,500 corporate oral healthcare providers.

Data suggests that while there’s still a high demand for all types of dental practices regardless if they are NHS or Private providers, the focus is now concentrated on service quality and practice location.

Dental Practice Finance

Running a successful Dental or Orthodontics practice is a balancing act between meeting the needs of patients and keeping a close eye on the finances. Pressure on your working capital could be coming from any direction. There could be unexpected operational costs, paying your staff or upgrading to new generation technology. As experts in dental clinic finance and funding we know this is where things get difficult.

Short-term dental practice finance alternatives can help. By quickly providing you with the necessary funds that is needed in that emergency!  Merchant Cash Advances allows you to cover all of these expenses without the need to compromise on quality or timing delivering the right type of finance for dentists when needed the most.

  • Upgrade your equipment: Clinics strives to bring the best to its patients, and for that you need the right equipment. With extra financing there is no need to compromise your choice of equipment.
  • Refurbish your premises: Planning to refurbish your practice? Working capital cash advances can help you invest in refurbishing without the need to cut back on other expenses.
  • Investment in Staff : Whether it’s recruiting a highly sought-after specialist, or nurturing the staff you already have with additional team training, PDQ Funding can help you bring a smile and not just to your patients.

Funding for Private Dental Practices

As a leading lender to dental clinics we have built a great reputation with NHS and Private professional oral healthcare providers. Making sure that that your private or NHS dental practice has everything it needs to grow and operate successfully each day isn’t a simple matter.

From operating costs, equipment, staff to rent, there are so many things you need to pay for. However, there’s no need to manage it all by yourself, not when there are plenty of funding opportunities available that can help relieve the strain upon your finances.

We have supported over 100 clinics with different types of funding for dentists since we started in 2010, we are confident we can help with your growth plans in the world of dentistry.

Types of funding for Dental Practices

There are a number of types of dental practice finance service solutions for a dentists and practitioner that deliver funding direct to the business, we have included equipment finance (Asset finance) while not a loan it is still viable should you wish to finance specialist apparatus, lets take a look at the following types and solutions available in 2021 to practitioners.

The types of finance open are  1. Business Cash Advance, 2. Business Loan, 3. Asset Finance

Both these types of funding are available for NHS dental practices, and both of these solutions have their own advantages and disadvantages.

Business Cash Advances for Dentists

A merchant cash advance is a way of lending against your future credit and debit card sales to use as cashflow within your dental business. It can be used as an alternative to bank borrowing for many purposes, from filling short-term cashflow gaps to replenishing stock or business refurbishments.

  • Over 90% approval rate for dentists
  • Approved within 24 hours
  • No hidden charges
  • Personal Security or business plans are not required
  • Apply for a business cash advance online in minutes
  • Flexible repayments based on your debit & credit card sales
  • Authorised and regulated by the financial conduct authority

Business Loans

Whether you need to invest in growth, deal with a cashflow shortfall or provide working capital, a business loan alternative is perfect for any practice in the UK. Loan repayments for dentists usually have a term time of 1 to 18 months, depending on the sums involved.

Unsecured business loans mean more risk for lenders. Because of this they they are have higher interest rates than secured business loans. This means your dental practice may have to pay more over the life of the business loan than it might have done for a secured loan.

A number of dentists have chosen ourselves as their finance provider, with the speed and flexibility of our business finance proving the ideal fit for dental practitioners. Our dental funding solutions can be used for any purpose, from new dental start ups to established businesses wanting a major refurbishment to the installation of equipment, and all come with flexible features as standard.

Business loan interest rates start at : 0.9% to 2.9% (from 10.8% per annum) and offer the following great benefits:

  • Practice funding of £5,000 – £200,000
  • Unsecured and secured borrowing options
  • Flexible repayment terms of 3 – 48 months
  • Speedy application with minimal paperwork
  • Approval and deposit in as little as 24 hours
  • No hidden fees or early-repayment penalties
  • Interest charged on a reducing balance, not the total loan amount
  • Repayment holidays and top-ups available with all loans
  • Exclusive discounts on industry-leading business services

Asset Finance

Asset finance could make it easier to raise funds for additional finance needs, in contrast to traditional borrowing. Spreading costs of an asset and avoiding ownership costs such as maintenance, help maintain cash flow in your venture.

Asset financing also differs from a standard loan in that an asset secures the finance agreement. Take into account your overall borrowing needs when considering finance options.

Your dental business could gain a competitive edge if you are in the market for dental equipment by accessing or leasing the latest x ray equipment and technological innovations, all whilst being able to spread the cost of the asset over a long period and gaining potential tax benefits.

  • Asset finance available from £10,000 up to £500,000
  • From 5.9% APR representative
  • Repayment by monthly Direct Debit between 24 to 60 months
  • A document fee of £175 and up-front deposit is payable before release of funds
  • The monthly repayment cost is determined by factors including the cost of the asset, your deposit, length of the agreement and your company’s credit score
  • You can own the apparatus at the end of the agreement on payment of an Option to Purchase Fee of £75 (inc VAT)

How can I spend my business loan?

Once a dental practice has acquired a business finance, they can spend it however they choose. Upon receiving funding or finance, the choices are made solely by the owner of the company, as we understand they will know how best to use it.

Recently business borrowing have reached a five-year high, which is likely due to the ongoing issues caused by the global pandemic. Though, the key thing to take away here is that more and more business owners are turning to alternative funding methods to get them out of troublesome scenarios.

With that being said, here are a handful of the most common uses of small business loans for dental practices. Keep in mind that you can use the funding for any reason you choose; the decision will be left to you to make.

Purchasing new equipment

When you reach a point where new equipment needs to be bought, the money troubles can soon start to appear. Yes, buying new equipment is often extremely costly, but you will need to ensure your dental practice is keeping on top of things and functioning at a level of high quality.

You could choose to purchase x-ray machines, dental chairs, imaging units, or any other form of equipment you may need. You may even need to make purchases you hadn’t previously considered, such as upgrades to your office systems or computing equipment.

Anything that is currently holding your dental practice back in some way, do your best to acquire it and allow it to help your business to expand and succeed.

Emergency repairs

Another common area in which the funding is often utilised and deployed is emergency repairs. Your practice can end up being closed for days or even weeks when something unexpected suddenly goes wrong, such as a burst pipe which is now soaking the carpets or dripping through the ceiling. This all amounts to a loss of income which is obviously very bad for business.

Having some extra cash saved up and ready to solve these problems can be an absolute life saver at times. Beyond this, it will offer you peace of mind and ensure that your business is always well equipped to reopen quickly, regardless of the issues it is faced with.

Refurbishments and expansions

Getting hold of a business loan means you will have the capital to invest in certain areas and make the necessary upgrades your company needs. Whip your dental practice into shape and make improve on the current customer experience your venture has to offer.

Have you been thinking about knocking the odd wall down and making some big changes to the layout of your premises for years? With a small business loan those plans can turn into a reality for you. You’ll be the one deciding how you spend every single penny, meaning you can make all the financial decisions with your business in mind.

The dental practice market in the UK is rather crowded, with over 12,000 currently active here as of today. So, making your business stand out from the rest is obviously quite a difficult challenge to overcome.

Our unsecured funding methods can give you the opportunity to make your business stand out and become even more successful than it has been in the past. We offer fast and flexible funding options that are fit for any situation.

Buying new stock

It is pretty obvious that you are going to spending a lot of cash on replenishing stock. This would be the same for almost any company in the world, and it is no different when it comes to dental practices.

Having surplus amounts of stock will also award with the opportunity to ‘upsell’ to your customers. Whatever your customers need, there is sure to be a few accessories that would fit nicely with it, such as a toothbrush or a particular brand of toothpaste. Regardless of what they need, you need to consistently be able to cater to them.

It is far easier to purchase something at the dentist than to drive to the nearest supermarket to get it, so allow your customers to benefit from the convenient service you can provide them with. Other things you may need to replenish regularly include mouth wash, dental floss and more.

Choose how you are going to use your business loan wisely, in a way that will expand your venture and bring it furthered success in the future.

Does my Dental Practice qualify?

Dental professionals aways wonder if their practice will qualify for a business loan, this is down to a number of factors the type of business loan you’re looking for and the credit score of the person applying. Your company must be UK-registered regardless of the type of loan you are looking for. Here are some of the basic eligibility requirements:

  • Your dental practice must be trading for a minimum of 6 months.
  • Be a Limited company, limited liability partnership (LLP) or sole trader
  • Must take credit and debit card payments
  • Minimum monthly credit and/or debit card sales of £5,000.
  • Based in England, Wales, Scotland
  • Have a UK bank account

What if my Dental Practice has Bad Credit?

If your dental practice has bad credit, everything is not lost. Yes the number of practice financing options maybe be reduced but there are still a number of funding options still available.

As a business owner you can take to improve your business credit score. A number of steps include paying invoices on time, communicating with suppliers if you are struggling to make payments on time. Clinic owners should check their business credit score every month , which is a great start to trying to solve cash flow issues.

Apply Today For A Practice Loan 

As we have arranged funding for many dental practices and understand the dental industry, we know the financial obstacles that dentists face.  A business cash advance loan can be put in place within 5 working days, and the funding placed with your bank account.

Apply today for one of our dental practice loans for dentists, once received we will forward your practice a free quotation.

Step 1:

Click to apply for a quick quote. You will be redirected to the application process page where we will ask for more information about your dental practice, including:

  • The name of your dental clinic
  • The number of years your dental clinic has been trading
  • Your dental clinic’s average monthly turnover
  • The amount you are wanting to borrow

Step 2:

The next step involves disclosing your personal details, please be ready to tell us:

  • Your title, first name and surname
  • Position in the business
  • Registered office address
  • Ltd Company number is registered in England and Wales
  • Contact details

Step 3:

Carefully read through the terms and conditions and click ‘get my quote’. From here your application gets reviewed by one of our approved business finance suppliers, who will help find the best lender for your dentist loan.

Step 4:

Please expect a call and email from one of our dedicated account managers to discuss the terms of your loan agreement.

Step 5:

Carefully read through the terms of agreement and sign the relevant documentation ready to return to PDQ Funding. From there you will be able to access the funds in your account in just 24 hours

Frequently Asked Questions

What are dental practice business loans?

Business loans for dentists is a form of unsecured borrowing which is aimed towards businesses in the dental services industry. They are essentially loans that can be used by dental professionals to help pay for expensive dental equipment or funding the growth of the clinic.

How can I get a dental practitioner get a business loan?

If you’re looking for funding in the UK for your dental practice, you can get one via a broker, alternative provider or a high street bank. You can apply for a business loan online by filling out an online application and choosing how much you wish to borrow. The application will require information about your dental practice, how much you want to borrow, some personal details and contact information. Next, an account manager will be in contact with you to speak about your applications and walk you through the process of receiving business finance.

Do you need to be a NHS or private dental practice to get dental practice finance

We support both NHS or Private practices with a business loan or a merchant cash advance. Both types of practices can apply for finance from PDQ Funding

Financing a dental clinic start up

Sadly we don't fund new dental start up's, but we have a solution that can help, with starting your journey as a owner of a surgery.