The MedTrust Capital Blog

The Latest Information on Medical Practice Financing

The Veterinary Financing Experts

Trust the veterinary financing experts

veterinary financing experts

Buying a new veterinary practice, expanding an existing practice, or starting your first almost always requires financing. Healthcare practice financing can seem complex, but there are 5 simple things veterinary practice experts list to improve your ability to get financing. These 5 tips are perfect for veterinarians, but they hold true for any healthcare professional.

-Save and have cash in the bank.  It might seem like a no-brainer, but if you have a down-payment on hand for your purchase, the odds of approval are very good.

-Maintain or improve a good credit score. Good credit makes financing easier, but if your credit isn’t perfect– there are easy ways to improve your score. Talk to us about your situation, before making a decision.

-Take it easy on the credit cards. Student loans and mortgages aside, it’s best to keep your consumer debt low to remain appealing for financing.

-Know your business.  Your vet practice will be successful with the right plan. Consultants and managers are helpful. Understand how much profit the practice can potentially create and stay informed on how much it’s actually creating. Surround yourself with a trusted team. Ask for help when you need it. Serve your patients– and their human caretakers.

-Have a strong resume. “Nothing succeeds like success.” A proven track record of prior veterinary experience always helps. Success as a working vet at the clinic you wish to purchase could help your case for financing even more. Giving the lender an idea of who you are as a vet starts with a great resume.

MedTrust Capital has a variety of innovative financing solutions for veterinarians seeking to start a new practice or expand an existing one.  There isn’t a “one-way option” to achieve the financing plan you’ll need, because every practice and every situation is different.

Contact us today for a free consultation with the veterinary financing experts on your unique veterinary practice.

Funding a Medical Practice Start Up

Funding a medical practice Start Up the right way

Funding a medical practice start-up, dental start-up, optometry start-up, or veterinary practice start-up can be difficult. Operating costs can be extremely high and the start-up costs can be daunting. This shouldn’t scare an ambitious professional from funding a medical practice start up and start336x280ing their own practice, however. There are many options for raising money to start a new medical practice that have proved successful for many professional practices. Some options make more sense than others and the route a start-up takes depends on the particular financial health and goals of the new practice.

Medical, dental, optometry, and vet start-ups partner several professionals and can pool their resources. Some start-up practices dig into their personal savings or their home equity. A few start-ups have even used credit cards to finance day to day expenses. But the most common and successful method of start-up funding are traditional loans. Financial institutions are willing to lend to medical practice start-ups because of the perceived safety and profit potential. The odds for default are very slim. Loans for medical, dental, optometry, and veterinary practices are MedTrust Capital Group’s niche speciality.

MedTrust Capital Group understands the unique challenges of start-up financing for medical practices. Although these traditional loans are the best way to secure financing, and they are lucrative for big banks, not all medical practice start-up financing is created equally or will serve a start-up’s unique needs. Big banks will try to sell a professional on a product. MedTrust Capital Group is interested in helping a start-up achieve the best financing for its particular needs.

Practice Financing: Stock Versus Asset Dental Practice Purchases

Stock Versus Asset Dental Practice PurchasesThere are different ways to structure the sale of a dental practice.

The two most common are stock sales and asset sales. If you’re doing your homework on an upcoming dental practice sale or purchase, you need to understand the difference between a stock sale and an asset sale.

What’s the difference between a stock versus asset dental practice purchase or sale? read more…

Neat Things in Denver from MedTrust Capital

MedTrust Capital Group is proud to sponsor the upcoming ADMC 2016 meeting in Denver.  Dayna Johnson and Kevin Henry made this informative video for attendees of some neat things in Denver. Definitely worth watching!

 

We’d like to add in a couple neat things in Denver we found online that might be worth checking out!

Neat Things in Denver from MedTrust Capital

Buckhorn Exchange.  The Buckhorn Exchange is located in the city’s oldest neighborhood, just 5-minutes from downtown Denver — with a light-rail stop right across the street. The National Historic Landmark, Western Museum and Denver’s oldest steakhouse opened in 1893!  It is packed to the brim with a variety of taxidermy animals.  I’m not sure how I feel about eating steak and having a dead bear in the room with me, but it does seem like something you can’t find anywhere else.

The Forney Transportation Museum. The Forney Museum of Transportation is a one-of-a-kind collection of over 600 artifacts relating to historical transportation. Sounds boring at first, but there are steam locomotives, aircraft, and automobiles all from a bygone era on display.

The Blue Mustang. At the airport you’ll see a 32-foot sculpture of bronco. The sculpture is the work of artist Luis Jiménez. Jiménez created the mustang to symbolize the spirit old American west. However in 2006 the artist died after a section of the 9,000-pound sculpture fell on him and severed an artery in his leg. Unveiled to the public in 2008, the statue’s fierce face immediately attracted critics who called it scary and ugly. Today, some Denver residents believe the Mustang is cursed.

Denver is an exciting town at the foot of the great Rocky Mountains—the de-facto capital of the Mountain West, the most populous city in Colorado, and truly a cultural crossroads of the United States.

MedTrust Capital is a proud platinum sponsor of the 2016 ADMC Meeting in Denver.

Practice Financing Success Stories in the Making

Practice financing success stories are realpractice financing success stories

This month MedTrust Capital Group was able to secure $650,000 in financing with no challenges for a brand new pediatric urgent care clinic opening soon. A simple idea will soon be a successful new clinic thanks to the hard work of the practice and MedTrust Capital Group. Practice financing success stories don’t happen overnight, however.

Also closing recently was a $460,000 loan which was referred to MedTrust Capital Group by a well-known practice consultant. This particular practice was a more challenging situation. The veterinarian who needed financing had a problematic 540 credit score. Using MedTrust’s credit analyzer, we guided the doctor through the necessary steps to raise their credit score to 680, help the clinic refinance existing debts, and in the process save the client $6,000 every month.

Whether the practice financing situation is a challenge or not, MedTrust Capital Group is the medical professional’s and practice consultant’s choice for  smart financing. If any of these recent deals sound like a practice financing situation you’re facing, let us know.

No “One Size Loan” Fits All Optometry Practice Financing Needs

Optometry practice financing needs are bigger than one size financial products

Optometry practice financing needs, specifically optometry practice financing for independent optometry practices has never fit into a single-sized box. Recently the growth of national optometry chains, the growth of online shopping, and the general shifts toward price transparency and away from personalized customer service experiences have created an environment where independent optometry practices are at a major crossroads in choices of traditional funding. Elizabeth Spaulding of Bain and Company writes,

 optometry practice financing needs
 “Independent optometry faces a major challenge. Will the industry remain stable, with approximately 50% market share for overall vision care (including optometric services as well as materials like glasses and contact lenses), or will it be forever changed by the same market pressures that have disrupted other industries like books, consumer electronics and independent pharmacies?”
Some independent eye care professionals have taken the initiative of pooling their existing resources into independent professional organizations, such as PECAA. PECAA members are not required to do business with the approved vendors, but the stamp of approval provides an easy and cost effective away for the independents to reach the services and products they need.
MedTrust Capital Group, as an independent correspondent lender understands the challenges of independence in a volatile marketplace.
At MedTrust Capital, an optometrist (or their manager/consultant) isn’t a number. Because we are an independent boutique lender, our clients can call us, day or night with questions about the status of their loan. If you are an independent optometrist, a PECAA member or not, we’d love to talk about what you’re planning and how we can help. MedTrust Capital Group understand your optometry practice financing needs.

Where Do Doctors Get Loans?

Where do doctors get loans?

Because of the unique opportunities and challenges that doctors present to a lender, the answer isn’t as simple as it sounds. Is the doctor seeking a commercial real estate loan? Is the doctor seeking working capital? Where do Doctors get loans?Perhaps the doctor is expanding their practice? The details matter. Today traditional sources of lending for doctors, especially independent health care professionals are drying up. Many doctors find themselves turned down by the lenders they’ve used in the past.

Where do doctors get loans? read more…

MedTrust Capital Announces New Vendor-Partnership with PECAA

MedTrust Capital Group is proud to announce its new vendor-partnership with PECAA, the Professional Eye Care Associates of America.  As a vendor-partner, MedTrust joins an elite group of world-class companies supporting independent eye care professionals.

MedTrust Capital provides independent eye care professionals with exceptional, personalized one-on-one customer service during their entire financing process. With a diverse range of lending programs, MedTrust Capital Group can assist any PECAA member practice with buying a new practice, debt consolidation/refinance, expansion finance, equipment loans, working capital. or a combination of these. Qualified PECAA members will also be able to take advantage of MedTrust Capital Group’s 0 down commercial real estate loans.

PECAA members enjoy the confidence of using vendor-partners that are committed  to promoting and protecting their independent eye care practices. While members are not required to use the vendor-partners, their members can trust that the services the partners provide are fully vetted and that each company offers aggressive programs and pricing structures designed to increase profitability.

MedTrust Capital Group and PECAA look forward to PECAA being a valuable part of the MedTrust Capital Group Network.

Partnership with PECAA

Another MedTrust Success Story

Another MedTrust Success Story happened this week.

MedTrust Capital  financed a veterinary clinic this week with a another medtrust success story2.859 million dollar loan to help build a second floor to their growing clinic– another MedTrust success story. Unlike the bank the clinic had previous loans with, MedTrust Capital was able to provide financing based on the clinic’s expected future profits due to the expansion.

MedTrust Capital is the proven boutique-service, niche lender for medical professionals– like veterinarians. Contact us today and let our experts help you get the financing you thought was out of reach.