Funding New Dental Equipment Purchases: Collateralizing the Loan
Sunday, 12 August 2012 21:23
In the field of dentistry, it is essential to remain current with the latest developments in research and emerging treatments for dental issues. New techniques and methods can reduce the pain of dental treatments and provide new avenues to a bright, healthy smile for patients. This progress comes at a cost, however; in many cases, dentists require additional funds to purchase the equipment that can provide significant benefits for their existing patients and help to attract new ones to the dental practice.
Digital X-ray equipment
One emergent technology in the dental arena is the digital X-ray machine. These advanced technological devices create far less radiation exposure for patients and are suitable for use on pregnant patients and patients who are currently undergoing radiation therapy for unrelated illnesses. Digital X-ray equipment can also be used to create vivid 3-D images of the entire mouth, allowing dentists to manage long-term treatment plans more effectively.
Computerized dental restoration
New technology now allows the creation of dental crowns and veneers in the dentist's office during the scheduled visit. Computerized systems actually fabricate these dental implants and cosmetic items on the spot, eliminating the need for temporary crowns and return visits. The entire process takes about an hour for most crowns and veneers and allows greater convenience for dentist and patient.
By combining the power of pressurized water with the precision of laser technology, dentists can now reduce the discomfort for their patients significantly by eliminating the heat created by traditional dental drilling methods. These advanced systems remove decay efficiently and minimize the need for dental anesthesia, allowing the entire process to be completed in less time than ever before.
The price of progress
These technological advances are not cheap, however. Dentists often require additional funding to provide these benefits to their patients. Finding the right funding solution can be challenging. However, these investments are often well worth the effort; these advanced dental equipment solutions can attract new patients to the dental practice and provide added revenues for ongoing operations.
Collateralizing the loan
In most cases, lenders will consider the ongoing financial health of the dental practice, the assets currently owned by the practice and the stability of its finances in the past three years. They will also consider the collateral the dental practice can supply to secure the loan. In some cases, small business lenders will offer unsecured loans to the dental practice based on its ongoing cash flow records. Receivable loans may also be an option, especially if the dental office has several large accounts outstanding with insurance companies or individuals who are expected to pay. The dental office or the practice itself may also be used as collateral for online business loans or traditional lending solutions. In some cases, it may even be possible to secure these loans against the dental equipment to be purchased.
CNF Exchange offers dentists and other small business professionals the chance to connect with lenders to obtain the funding they need for equipment acquisition, business expansions and other operating needs. This exclusive system provides borrowers with the tools they need to acquire necessary funding more rapidly and at better terms, allowing them to achieve their short and long-term business goals.
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