What can we help answer for you?
- How do I apply for financing?
It begins with a simple conversation: to work with a LenDRgroup Consulting Practice Finance expert, simply email a general overview of your practice and financing needs to firstname.lastname@example.org. We know you need a decision quickly, so we guarantee a 24-hour response from one of our representatives, who will schedule a phone interview with you to discuss your needs.
- What type of documentation will an application require?
Loan approval requirements vary based on the type of financing you’re after however LenDRgroup's goal is to make the documentation request as minimal and as streamlined as possible.
- How much can I borrow?
Generally, a practice owner can borrow up to 85% of their practice's revenue if they have enough excess profit to pay the loan.
- What types of loans do you offer?
We offer a variety of financing solutions, including, but not limited to:
- Practice Acquisition: We finance practice acquisitions of all sizes, including multi-location practices.
- Practice Start-up: We have special solutions for keeping costs low in your first year.
- Expansion and Relocation: Whether you're moving across the country or renovating your practice, we can meet your financing needs.
- Commercial Real Estate: We offer real estate 7a and 504 loans in-house.
- Equipment: We offer equipment loans for all types of equipment.
- Practice Equity: We offer loans to help you invest in your existing practice.
- Working Capital: We offer short-term business working capital loans and business lines of credit.
- Debt Consolidation and Refinancing: We'll help you find the right loan to pay off high-interest debt.
- Small Business Administration (SBA): We'll help you choose the right SBA loan program to finance your fixed assets such as real estate, construction or machinery.
- Can I refinance my existing loan?
Yes! We'll work with you to determine the best course of action.
- Can I refinance my credit cards with a practice loan?
Yes; the amount of the loan is subject to the loan type and approval.
- Does LenDRgroup Consulting offer 100% financing?
Yes; our preferred lenders can offer 100% financing based on the type of financing you’re interested in and what works best for your long-term success.
- What Terms does LenDRgroup Consulting Offer?
Our preferred lenders offer competitive terms from 10 to 25 years depending on the type of loan and to give you the flexibility your practice needs.
- What does the approval process look like?
Our approval process is quick and streamlined. We'll walk you through what's needed but take care of all the paperwork. On most loans, you receive an initial response from an approved lender within 2 business days.
- I'm currently in Residency, am I eligible for a loan?
Only after finishing your residency will you be eligible for a loan, but let's create a plan for next steps!
- How long do I need to be licensed before I can get a loan?
We ask that our applicants have a minimum licensed experience of 2 years before applying unless you are finishing or have finished a residency.
Our healthcare industry expertise combined with comprehensive healthcare lending puts you on the fast track to build and grow your practice.
Rely on our industry knowledge and let us deliver the right financing option for your practice so you can move your business forward and meet your goals. We help dentists, vets, and medical practitioners build the clinic they always envisioned.
We can assist with the following types of lending:
Acquisition & Start Up Loans | Refinancing | Multi-Practice Loans | Real Estate & Construction Loans | Practice Buy-In Loans | DSO Loans | Working | Capital | Lines of Credit | Accounts Receivable Loans | Equipment Loans
- How would business consulting services benefit me directly?
Typically our clients are looking for some or all of the following and they find it with our comprehensive solutions!
- Reduced level of stress.
- Increased levels of fun and fulfillment.
- Regained or increased passion for both their field and their practice.
- An environment in which their team can thrive and grow and be rewarded for taking the practice to the next level.
- Increase in net income in the same or less time.
- Reduced chaos in the everyday.
- What if I'm already successful?
Most of our clients are already successful to varying levels. If you feel as though you are already successful, the question that you need to ask yourself is, “Now what?” Are you finished and just want to remain stagnant? If you remain stagnant, sooner or later your practice will decline.
- What do you focus on?
There are two realms in which we work. The first is establishing the most efficient and effective systems, procedures, and policies. In doing this, the entire team is organized, prepared, and engaged to identify opportunities more often and capture them in an easier and less stressful manner … and then revenue increases. This provides more security, stability, predictability. The other realm is leadership, teamwork, and communication which are critical for success.
- I'm worried that my practice will be completely disrupted...how does this work?
Change is a good thing as long as it’s executed properly. We don’t make changes just for the sake of change; it must make sense. You also shouldn’t change too many things at once. Our approach to a practice is that if there is something missing, we put it in. If something needs to be tweaked, we help you tweak it. If it’s already working, we leave it alone.
- I'm worried that we don't have the right team...
Most of the time our clients have the right team, they just need to be trained and developed and know what to do so that they can succeed. All we need is willingness from a team member and we will handle the rest.
- What's the difference between coaching and consulting and what you offer?
We do both. Consulting is analysis and delivery of information. Coaching ensures implementation.
- How long is your coaching program?
This is a month-to-month agreement. You continue on with us for as long as you are experiencing value. Our goal is to have you consider us as a valuable part of your advisory team so that we can be a resource and guide as you continue to set and achieve new goals.
- Do your coaches come on-site to our practice?
YES! In addition to an initial on-site observation, our coaches are in your practice every other month delivering a training and development workshop. Although this is very resource-intensive for us, our experience is that we must be hands-on in your environment to achieve maximum results. In between the workshops, we support and hold you accountable for implementation via phone, email, and text.
- What are your fees?
Fees are dependant upon your specific needs with an average monthly cost starting at $1900 and a one-time startup fee typically equal to the first month. Since your needs may change over time, the monthly cost is flexible and can adjust accordingly. Travel costs are the responsibility of the client.
- Are we locked into a long term contract for this?
No. You can terminate your engagement at anytime.
- Do you only work with PPO practices?
No. Many of our clients do not participate with PPO’s at all or participate with very few. There are also many practices that reach out to us because market pressure has led them to decide to participate with PPO’s. These practices want to learn how to increase profitability without compromising clinical care and the patient experience – while accepting lower fees.
- What results are your clients experiencing?
Over the past 12 months, our average client increased collections by $240,398 (a 28% increase). It’s simple … when clients implement our systems, they experience results 100% of the time.
Strategic Customized Dental, Medical, and Veterinary Practice Consulting
It’s true that dental, medical, and veterinary practices face a wide range of challenges when identifying strengths, weaknesses, and opportunities related to their businesses. However, it’s also a fact that it’s not necessary to face all of this alone.
We assess your healthcare practice and evaluate your business and management procedures and processes. From there, we are able to offer assistance with developing both short- and long-term plans, devising roadmaps for growth, identifying revenue opportunities, and formulating improvement strategies for addressing operational or infrastructure shortfalls.
What’s more, since LenDRgroup Consulting only works with professionals within the healthcare field, you can rest assured that the strategies and recommendations we create for you have been fashioned with your unique needs and challenges in mind.
About LenDRgroup Consulting
- How is LenDRgroup Consulting different from other lenders?
LenDRgroup Consulting offers concierge financing, fast response time and individual support to prep the best financial solution for your practice. Our experts will help you find the right solution for your unique needs through flexible loan solutions—from loans to credit lines to credit cards and more. Through our singular support, you get what your practice needs from one company and a single dedicated contact—from start to finish.
- What does "concierge financing" mean?
In short, we do it all for you! From matching you to the right lender for your unique needs to managing all the calls, meetings and paperwork-we put our years of industry-specific experience to work for you so you can concentrate on the bigger picture!
- Do all practice lenders offer customized financing packages?
Not typically. Most lenders only approve and lend on loans within their space and rarely do they come up with innovative solutions to structure offerings. Most other lenders are unable to facilitate practice loans, commercial real estate and SBA financing options all under one roof and through a single point of contact.
- Are you a lender, bank, or what?
Well, we would be considered an advisory firm! "Advisory" firms have the ability to work with a variety of different lenders, debt firms, and private equity sponsors. Our expert advisory services result in optimal capital and loan structures and you can trust us to secure pricing that is the most competitive on the market today.
We make it a point to give you the personalized attention you deserve and are always available to answer your financial questions. We hope to help guide and shape financial decisions that boost the health of your dental, medical or veterinary practice for years to come!