How Our Financing Has Helped Dentists Increase Their Annual Revenue
National Business Capital offers specialized physician loans for all medical professionals including dentists, pharmaceutical professionals, veterinarians, chiropractors, optometrists, home health care professionals, primary care physicians, specialists and more. Doctors use our financing options to expand their practice, upgrade or purchase medical equipment and software, or to obtain working capital when dealing with cash flow issues due to slow insurance payments.
Below is an example of how our dentist financing can help increase their annual revenue. We will be going over the use of funds scenario, the loan breakdown, and the sales increase breakdown.
Loan Breakdown & Use of Funds Scenario
In this scenario, our dentist is approved for a loan amount of $100,000. The term of the loan is 18 months. Based upon national averages and industry advisors, $100,000 is a generous estimate regarding the cost to construct and equip a new operatory, which is what our dentist uses the funds for.
Sales Increase Breakdown
Now let’s take a closer look at the sales increase breakdown. A new operatory will produce an extra $5,000 in daily sales. This number is based upon industry standards as well as information provided by one of our dental advisors.
So we take the $5,000 in additional daily profit and we minus 70% for overhead costs which is $3,5000. This gives our dental client an additional $1,500 in daily profit.
Being conservative, we take the $1,500 in additional daily profit and multiply it be 4 work days per week to get a total of $6,000 in additional weekly profit. Remember that our dental client took the loan out over an 18 month period which equates to 78 weeks. So $6,000 in additional profit per week multiplied by 78 weeks equals $468,000 in additional profit by adding a new operatory. The image below breaks down the whole scenario in 1 slide. Click on the image to enlarge it.
National Business Capital offers specialized dentist financing to medical professionals and practices no matter the size or credit history, nationwide. Choosing National Business Capital as your provider means you will enjoy no upfront fees, 24-hour approval and funding within days!
You can download our report here for your financing options. Click here to fill out our 2 minute online application.
Megan Capobianco is the Marketing Manager at National Business Capital. Megan is passionate about helping business owners along their journey - providing them with relevant content they can use in their day-to-day operations.
