Medical & Osteopathic Practice Financing
Coffman Capital Inc. is your Best Source for Financing a Medical or Osteopathic Practice. There are other financing sources but we believe we can offer you more options and represent your interests better than other financing companies.
Private medical practice is becoming something of a rarity but when there are opportunities to acquire an existing practice we are there to help. There are far too many specialties to list here, so we won’t try. If you have found a practice that needs you to take it over, maintain and expand the existing patient base, we should be able to provide the financing to accomplish your goal.
Isn’t it Time to Own Your Practice?
Whether you’re out looking for a practice to buy or maybe purchase the one in which you have already established yourself as an associate, Coffman Capital has seen the dramatic improvement in the lives of the doctors we’ve helped. In fact sometimes the new owner seems to undergo a transformation in attitude and expectations even before they close on the sale, anticipating the new exciting role they are about to play in their own professional career.
Why Not Start A Practice?
There are merits and challenges of starting a practice from the ground up. You can have lower business debt and the pride of starting something on your own. On the other hand the time & effort it takes to build a practice that will support your family may not work for you. But if you want to start a new practice we can often help! It depends on what you want to do and the available funds for your particular project. Let us know what you’re planning and let’s talk about it!
What Should I Look For When Buying A Practice?
Coffman Capital can help you not only by having the right financing terms for you but also asking the right questions. Our loan submissions include not only financial data, but also the type of practice it is, how the patients and revenues are generated, and all the issues regarding transitions, non-compete agreements, and ownership structure. This means that by the time we ask a lender to approve your loan, you’ve learned a lot about the practice itself.
What About Surgery Facilities?
We love financing surgery centers! Whether you’re purchasing one or building one, we can help with the financing – even if there is no real property included with the transaction. As we referenced in Healthcare Practice Loans, we specialize in under-collateralized loans. Even a large surgery center with very expensive equipment, through a bank’s eyes, tends to have less liquidation value than they may normally like, so we know how to make sure that’s not a concern.
How Much Experience Do I Need?
Great question. Because of the different residency periods and post-residency experience levels, this can vary. Best results seem to be obtained when the doctor has at least 2 years of post-residency experience. But sometimes circumstances beyond board-licensure time can be a factor. We have been able to help in those areas so let’s talk about it. We invite all prospective practice owners to call us and find out what you have planned and let us help you in any way we can even if buying it right now isn’t recommended.
Also: New graduates and doctors coming out of residency are difficult to finance for a Medical practice acquisition. Having said that, if you have business ownership background and enough treatment experience (you’d have to make your case), it might work – but it’s tough. A strong guarantor to the loan would likely be necessary. We can still help with Medical startup financing for qualified borrowers.
For more specific information on the lending programs and qualifying, please see the Healthcare Practice Loans page.
Please let us help you get the job done right. We’ll help you learn about the practice you are buying including things the lenders won’t ask about. We’ll also make sure you are completely knowledgeable about the loan program you are using. You are about to embark on a journey to Your Own Successful Practice!
Please Call Us at 813-891-1811 and Let’s Get Started!