Thinking About Dental Practice Ownership? Financing Secrets Every Aspiring Owner Should Know
Shared Practices | Your Dental Roadmap through Practice Ownership
Dr. George Hariri | Shared Practices Network
4.9 • 559 Ratings
🗓️ 19 May 2025
⏱️ 45 minutes
🧾️ Download transcript
Summary
In this episode, Richard Low sits down with Steve Steinbrunner and Brian Carroll from Provide to demystify financing for the modern dentist. If you are preparing for dental practice ownership, navigating banks and loan requirements can feel overwhelming. However, securing the right funding is the ultimate key to unlocking sustainable dental practice growth.
Whether you are planning a startup or evaluating an acquisition, understanding how lenders view your profile is critical to dental practice ownership. Many ambitious associates make the mistake of aggressively paying down student debt instead of saving cash, inadvertently destroying their chances for competitive financing.
Here is your blueprint for mastering dental business strategies and securing capital for dental practice ownership:
- Preserve Liquidity: Banks typically want to see 7% to 10% of your total loan amount in cash.
- Check Your Credit: Maintain a minimum credit score of 680 and ensure you have a clean history without major financial blemishes.
- Leverage Gift Funds: If you lack the cash minimums, use family gift funds to bridge the gap and satisfy strict lender requirements.
- Startups vs. Acquisitions: Understand that startup loans rely heavily on personal projections and runway, while acquisition loans are driven by the target clinic's historical cash flow.
Ready to take the next step in your dental practice journey? Visit https://sharedpractices.com to learn more about our Buyer Representation and Coaching services, designed to help dentists buy, grow, and optimize profitable practices. You can also use our Free Look to evaluate dental practice opportunities with real data before making a decision. For daily Dental Moneyball insights, strategy tips, and updates, follow us across our social channels.
Transcript
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| 0:00.0 | Welcome to the shared practices podcast. |
| 0:05.0 | This is a fun interview that honestly we haven't had an interview like this in a long, long time, and our listeners are hungry for this. |
| 0:13.5 | Because one of the things that we get from new grads, from associates, from existing dentists who are running their practice is, I want to get more money |
| 0:23.3 | to buy a practice or start a practice in the first place or to expand or build a new building. |
| 0:29.9 | Like, how hard is that in the current interest environment, the current lending world that we're in? |
| 0:36.4 | Is this going to be a problem? |
| 0:39.4 | Am I bankable? Is this practice bankable? And then moving forward, how do I get this all to fit together? How much money |
| 0:44.6 | do I have to bring to the table to pay for closing and attorney fees and coaching and all these |
| 0:49.4 | things? And so I'm really grateful to have with us today some longtime friends, long-time partner at shared |
| 0:57.1 | practices, provide. Steve Steinbrenner, welcome to the show. How's it going, Steve? Great. Thank you for |
| 1:03.5 | having me, Richard. Pleasure. Excited to have you on. And then we've got Brian Carroll, two R's, two L's. |
| 1:09.7 | Brian. How's it going, Brian? Doing great, man. Thanks for having us. Well, sweet. We're going to have a great conversation today. And I will say that I went on your guys's podcast a little while back. You guys sent me some sweet swag for coming on the show. And my daughter wears a provide shirt to bed at night. You know, it was like a real soft, like just awesome shirt. So it's funny, |
| 1:28.8 | there's like a little Provide billboard walking around my house at night. And then the Yeti |
| 1:32.7 | that I got from you guys is just good stuff. So if you guys ever work with Provide and you sign up |
| 1:37.1 | for a loan, hit them up for some swag. See what they can do for you. We're talking about pre-ownership here. |
| 1:41.8 | This is the potential future acquisition, future startup. |
| 1:47.1 | We've got an event coming up Friday, July 25th, July 26th. |
| 1:52.2 | This event is our pathway to practice ownership event. |
| 1:55.9 | You guys are going to be there. |
| 1:56.9 | And you're going to be able to answer questions, help these dentists out, help them get the right, |
| 2:02.1 | not only the right practice, but money to buy or start a practice. And so this question of like, |
| 2:08.1 | can I get the money? Can I do this? Is this reasonable? Is this feasible? Is a question we get all |
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