Whatever Your Professional Practice Financial Needs, Practice Pathways Has Your Solution

Access a solution for your professional practice financial needs. These professionals did.

Future Equipment Needs

Challenge

Borrower needed to refinance an existing dental practice and purchase a digital x-ray machine worth roughly $150k within 6 months of closing.  

Practice Financial Solution

Refinance $600,000 practice and purchase $150,000 of equipment

Amount Needed

$750,000

Result

Practice Pathways helped refinance all outstanding practice debt and provided a “non-revolving” line of credit for $200,000 for purchasing future equipment. Once all equipment was purchased, the line of credit converted to a commercial term loan and was amortized based on the principal amount used on the line of credit.

The practice paid off its outstanding debt and secured the equipment it needed.

 

Acquisition

Challenge

Borrower needed to refinance an existing dental practice and purchase a digital x-ray machine worth roughly $150k within 6 months of closing.  

Practice Financial Solution

Practice acquisition of $375,000  and purchase $150,000 of equipment

Amount Needed

$525,000

Result

Practice Pathways worked out a way for the borrower to use credit by taking out a CD for $45,000 as additional collateral to be held for 1 year or until the loan-to-revenue ratio was met.

 

First-Time Practice Acquisition

Challenge

First-time borrower wanted to purchase an underproducing practice from a dentist who had scaled back on hours due to upcoming retirement.

Practice Financial Solution

Practice acquisition of $525,000

Needed Loan Amount

$525,000

Result

Practice Pathways secured a consultant and financed a 1-year consultant fee for the borrower, allowing the loan to close without delay while still having a strong strategic financial and marketing plan in place to ensure future success.

 

Partnership Buy-in

Challenge

Pediatric dentist in Tyler, TX, hadn’t yet graduated and had $700,000 in student loans, preventing him from buying in to a practice after graduation.

Practice Financial Solution

Practice acquisition and student loan payment

Needed Loan Amount

$1,550,000

Result

Practice Pathways approved the borrower to buy in to the practice upon graduation, allowing the transaction—and the dentist’s career—to move forward.

 

Acquisition and Added Cash Flow

Challenge

2 dentists in Houston had recently dissolved their partnership and wanted to buy their own portions of the practice. The deal needed both dentists to be financed individually at the same time.

Practice Financial Solution

Practice acquisition and working capital

Needed Loan Amount

$425,000 and $410,000

Result

Without any restricting covenants, Practice Pathways was able to approve both dentists simultaneously, so each could own a practice outright. Additionally, the Practice Pathways® loan secured each dentist roughly $400 of added cash flow each month. 

 

Partnership Buyout and Refinance

Challenge

A dentist in Broomfield, CO, owned 2 practices with debt and was buying out the remaining 75% equity from his partner in his second practice. It was important for the dentist to secure a loan quickly and at a 15-year term.

Practice Financial Solution

Refinance

Needed Loan Amount

$916,000

Result

Practice Pathways was able to consolidate both practice debts into one 15-year term loan for the dentist.

 

About Zions Bank

Zions Bank is recognized as an industry leader with a personal touch. Zions Bank is one of the top providers of US Small business Administration (SBA) 7(a) loans. As part of Zions Bancorporation, Zions Bank earned 24 Greenwich Excellence Awards in 2014—more than any other regional bank.

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