The MedTrust Capital Blog

The Latest Information on Medical Practice Financing

Medical Practice Financing in the 21st Century

The changing face of medical practice financing in the 21st century.

Medical practices have changed in the first decades of the 21st century. From new medical technologies and medications, to the Affordable Care Act, medical practices have evolved with changing times. Likewise medical practice financing has changed. Today concierge-style healthcare practices where patients pay a monthly fee for access to the physician’s primary care services exist alongside large insurer-based healthcare network corporations. Independent primary care healthcare practices operate alongside specialized practices focused on preventative treatments. Medical practices are almost as diverse as the populations they serve.

As medical practices change, the need for innovative financing solutions becomes apparent. Big banks and conventional lenders can be hesitant to work with start-ups and medical practices focusing on non-traditional treatment. Medical practice financing has never been a science, but now more than ever, flexible credit terms without red tape and transparent guidelines are necessary for medical practices.

Similar to the concierge style of medical care, MedTrust Capital Group offers personal, 7 days a week financing assistance to medical practices—to the doctors themselves or the managers and CEOs that run practices. Innovation is the key. MedTrust Capital Group is the innovative practice financing group for the 21st century.

What We Do: Financing Solutions

MedTrust Capital Group finds innovative financing solutions for medical professionals.

MedTrust Capital Group is far more flexible than competitor lenders you’ll encounter online, because we only lend to doctors, dentists, and other medical professionals.

Recently a big bank directly referred us a dentist who required more flexible financing solutions than the bank could provide. It’s a feather in our cap to not only be able to handle the deals big banks can’t do, but to get direct client referrals from them.

MedTrust Capital helped the dentist refinance and consolidate debt with a loan for $733,000 with a credit score around 640. Through financing with MedTrust Capital Group, the dentist is now saving around $10,000 a month. What the bank couldn’t do– we got done.

In another case this month, MedTrust Capital Group financed a veterinary clinic in Pennsylvania. This was a job a big bank could have done, but the client came to MedTrust Capital through a Google search, looking for concierge service. The doctor refinanced and took additional funding for working capital with MedTrust Capital Group. The financing will help the clinic save $10,500 a month, adding up to over $126,000 a year.

These are just two examples of what we do. Financing solutions are everywhere, but you’ll only choose one. Trust the experts at MedTrust Capital Group. We are always looking for new opportunities to help healthcare practices grow. If you think we can help you, let us know.

Loans for Dentists

loans for dentistsLoans for dentists are our specialty.

Loans for dentists are one of MedTrust Capital Group’s specialties. We are a niche lender, with over half our business coming from loans for dental professionals (including orthodontists and endodontists). Why would a dentist need a loan?  One of the most common reasons MedTrust provides loans for dentists is to finance commercial real estate for practice expansions and acquisitions. From established and growing practices, to start-ups, MedTrust Capital provides loans for dentists that are truly unique. MedTrust Capital Group can fund a 0 down commercial real estate loan for a dental practice if your practice occupies at least 51% of the building. Credit scores as low as 500 can qualify and funds are typically available in 45 days. These loans can be from $5K to $20M and there are no call provisions or balloon payments.

Talk to MedTrust Capital Group if you are a dentist who needs a loan. Furthermore, whether you are a dentist yourself, business manager, CEO, or consultant, MedTrust Capital Group has the information necessary to move forward on your loans for dentists you work with. While banks can provide financing for many situations, there are just as many that require a niche lender who can structure your practice debt properly. MedTrust Capital Group is that niche lender.

New Closed Loans for 2017

New closed loans for MedTrust in 2017

It’s shaping up to be a great year for MedTrust Capital Group and our clients. In the first two weeks of 2017 we have two new closed loans for two very satisfied clients.

First, we assisted a brand-new, pediatric clinic start-up get the funding it needed to launch in 2017. We provided the clinic 0-down commercial real estate financing for the new facility.

Next, MedTrust Capital group funded a Texas optometrist $1.8MM after she had been turned down by her local bank. Again, the optometrist’s clinic received a very helpful 0-down commercial real estate loan.

With these two new closed loans, these clients are sure to achieve more financial success in 2017 with new facilities.

MedTrust Capital is proud to be able help in unique financing situations where traditional funding doesn’t fit and our innovative solutions create success stories.

If you are expanding, building, or growing, talk to MedTrust Capital Group.

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.