As a healthcare professional, you’ll have to figure out how to finance your acquisitions. Whether it’s buying veterinary, computer, office, or other equipment for your practice, acquiring an existing practice, or starting a new one, it’s important to select tools that will help you make informed choices.
Fortunately, there are many resources available to meet your financial needs. Banks will offer you the traditional loans to make your purchase easier. Or if you want something more involved, lending companies that offer lease financing have a whole range of services to meet your needs. Lastly, financial brokers can accompany you each step of the way and offer you personalized advice on the best investment vehicles. They will be able to determine the type of financing you need to get greater returns.
Here are some important things to consider as you make your plans, whether you’re a veterinary school graduate who wants to start your own practice, or a veterinarian looking to expand your business.
Leasing is now considered the preferred tool in terms of effective financing methods. Whether its for veterinary equipment, computer equipment, office furniture, or anything else, you can get 100% of the cost financed. You can also get fixed or variable rates based on your risk level. From a tax point of view, leasing has some major advantages over conventional financing from a bank. Your broker will be able to guide you and suggest the most effective tools.
Acquiring an Existing Practice
Both veterinary school graduates and professionals looking to grow their operations might consider acquiring an existing practice. Brokers are a valuable resource for such a project. They have extensive and specific knowledge of the healthcare field. You will need to evaluate the asset quality and the value attributed to the existing practice’s clientele This type of acquisition is easy forboth buyer and the seller thanks to flexible repayment schedules.
Starting a Practice
Your financial broker can help you draft a business plan for your projet. They can also help you design pro forma financial statements that reflect your needs when starting a business. Brokers have access to numerous investment sources, and they can guide you towards the company that is most likely to value your draft, at a competitive price.
Modernizing or upgrading your building can be an important step in growing your business. If you’re looking to upgrade, you can finance the improvements through leasing. If you lease the premises, 100% of the work could be financed.
Having access to a financing source will make it easier to start your practice or help it grow. This enables you to finance equipment for the entirety of its useful life.
Make your dream a reality with MediCapital
By choosing MediCapital, you will benefit from 35 years of experience in healthcare financing. Our financing offers are simple, affordable and effective. More than 25 000 customers have trusted MediCapital to support their financing : will you be the next one?
By David Turgeon