Loan Amount: $225,000
Financing Type: Working Capital
Preparing for the Next Stage
Dr. James R. was slowly moving toward retirement. However, he wanted to make the transition at his own pace.
To do that, he planned to bring one or two associate dentists into his practice. The associates could then begin caring for some of his patients.
However, this plan required additional working capital. Dr. R. needed funds to support the practice while making this change.
Securing $225,000 in Working Capital
Dr. R. worked with IMS Financial to find the right financing option for his practice. As a result, he was able to secure $225,000 in working capital.
The funds gave him more flexibility as he prepared to bring in new associates. At the same time, he could continue running his practice while planning for retirement.
A Fast Approval Process
Speed was also important to Dr. R. He wanted access to the funds without a long approval process.
Fortunately, the application moved quickly. IMS Financial secured approval about one to two days after the application was submitted.
The loan was then funded shortly afterward. As a result, Dr. R. could move forward with his plans without a long wait.
Supporting a Smooth Transition
The $225,000 in working capital helped Dr. R. prepare for the next stage of his career.
By bringing in associate dentists, he could begin shifting some patients to new providers. At the same time, he could slowly reduce his own workload.
This approach allowed Dr. R. to plan ahead. More importantly, it gave him greater flexibility as he moved toward retirement.
Need Working Capital for Your Dental Practice?
Working capital can help dental practice owners manage important changes. For example, it can help support the addition of associate dentists.
It can also provide funds for other business needs. Therefore, the right financing can give practice owners more flexibility when making important decisions.
If you need working capital for your dental practice, IMS Financial can help you explore your financing options.
