Dental Practice Loans
1st Source Bank knows that every dental practice is unique. That’s why we offer local dental business loans with personalized solutions. Whether you’re buying a new practice, expanding your current one, or upgrading your equipment, our financing options for dentists are designed to fit your specific needs.
Buying an existing practice? We offer tailored small business loan options for dentists to help you take that step confidently. With competitive rates and flexible repayment options, we’ll work with you to make the process as smooth as possible.
Looking to grow your practice? Our expansion loans are designed to support your goals, whether you’re adding new services, renovating, or opening another location. Grow your dental practice with tailored financing that aligns with your vision.
Running a successful practice requires consistent cash flow. Our working capital loans help cover everyday expenses like payroll, supplies, and marketing, giving you the financial flexibility to focus on your patients.
Small Business Administration loans offer great terms for dentists, including lower down payments and longer repayment periods. As a preferred SBA lender, we’re here to guide you through the application process and ensure you get the best SBA loan rates for dental professionals.
Finding the right location for your practice is crucial. Our commercial real estate loans offer competitive rates and personalized service to help you purchase or renovate the perfect space. As a local bank, we have insights into the real estate market that can make a big difference.
Understanding tax implications is key when taking out a loan. Optimize your dental practice finances with strategic tax planning. Our experts can help you navigate tax implications, ensuring you take full advantage of deductions and credits available to dental practices.
All loans are subject to credit approval and a 1st Source Bank checking account is required.
1st Source Bank offers a range of financial solutions to keep your dental practice running smoothly. Our Business Checking accounts simplify your day-to-day transactions, while Merchant Card Services make payment processing a breeze. Our Mobile Deposit and Lockbox services eliminate the time it takes to sort mail, process payments, and make trips to the bank. Our Business Insurance team will help you form a risk management plan, and our Employee Retirement Plans will ensure you retain your best people. Trust us to deliver personalized banking solutions that help your practice thrive.
Planning for the future of your dental practice is just as important as managing it today. 1st Source offers Private Banking Services and Wealth Managementto help you invest and protect your wealth. Our Physician Home Loans provide specialized mortgage solutions for healthcare professionals, offering excellent terms to dentists who are just starting out or relocating. And our Succession Planning services ensure a seamless transition when you’re ready to step back. With personalized guidance, we’re here to secure your financial future and the legacy of your practice.
At 1st Source, we’re not just offering loans— we’re offering partnership and support for your dental practice. Whether you’re starting out, expanding, or planning for the future, we have the financial solutions you need. Contact us today to learn how we can help you achieve your goals.
Starting a dental office typically involves costs such as equipment, real estate, staffing, and inventory. On average, these start-up costs range from $250,000 to $500,000, but can vary based on location and practice size.
Dentists can explore various financing options, including traditional bank loans, Small Business Administration (SBA) loans, and specialized dental practice loans. Each offers different terms based on your needs.
To qualify for dental office financing, lenders typically require a strong credit score, a detailed business plan, and evidence of steady income. If you're purchasing an existing practice, financial records are also important.
Interest rates for dental office loans can vary based on the loan type and your credit profile. Generally, rates range from 4% to 12%, depending on the term and financing structure.
Yes, SBA loans are a popular choice for financing dental practices. They offer lower down payments, extended repayment terms, and competitive interest rates, making them ideal for start-ups and expansions.
Approval times vary depending on the type of financing. Traditional bank loans may take several weeks, while SBA loans might take longer due to additional paperwork and processing requirements.
Financing your dental office allows you to preserve cash flow, invest in equipment, and grow your practice without depleting personal savings. Loans also offer tax benefits, as interest payments can often be deducted.
The Michiana Partnership serves Northern Indiana and Southwest Michigan, offering insights on regional economic growth and community development.
The Indiana Economic Development Corporation (IEDC) offers resources for business growth and regional development throughout Indiana.
The South Bend Regional Chamber of Commerce provides local business news, networking opportunities, and community insights for South Bend, Indiana.
The Indy Chamber offers resources on business growth, networking, and economic trends for businesses and professionals in Indianapolis.
The Indiana Dental Association (IDA) provides resources, news, and events for dentists practicing in the Indiana.
The Michigan Dental Association (MDA) offers professional development, legislative updates, and industry news for Michigan dentists.
The Greater Elkhart Chamber of Commerce offers business resources, community events, and networking opportunities specific to Elkhart, Indiana.
Greater Fort Wayne Inc. provides business resources, economic development updates, and networking opportunities for professionals and businesses in Fort Wayne, Indiana.
