Podiatry Practice Financing
Coffman Capital Inc. is your Best Source for Financing a Podiatry Practice. There are other financing sources but we believe we can offer you more options and represent your interests better than other financing companies.
Podiatrists perform an important function in the healthcare universe, whether it is in a private office, covering retirement facilities and indigent homes, or performing surgeries at hospitals or outpatient clinics. The profession has changed some over the years including the lengthening of residencies and we have watched it all happen.
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?
The merits of starting a Podiatry practice from the ground up are numerous. You have lower business debt and the pride of starting something on your own. The fact remains that the time, effort and financial capital it takes to build a practice that will support your family may not work for you. For us, the fact is financing the smaller loan amounts to start up a basic Podiatry practice is not within most lenders’ programs. They’re too small, usually less than $100,000 after cash invested. Therefore we try to help where we are most able: financing the acquisition of an existing Podiatry practice. If it’s a larger project involving real estate or more ambitious type of clinic, 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 or building one, we can help you find the financing. As we referenced in Healthcare Practice Loans, we specialize in under-collateralized loans. Size is a concern, so as long as the project before long-term working capital is over $150,000 we should be able to help. Even centers with high-level equipment, through a bank’s eyes, tend to have less liquidation value than they may normally like, so we know how to make sure that collateral is not the primary concern.
How Much Experience Do I Need?
Great question. Because of the different residency periods, this can vary. Best results are obtained when the doctor has at least 1-2 years of post-residency experience. But sometimes circumstances beyond license 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.
Regarding Startup Practices: New graduates and doctors coming out of residency often present a challenge for financing. We are finding that having 3 full years’ residency and a current license will help, along with possibly a current earning position at a clinic or contractor for a hospital post-residency. A guarantor might be helpful and we can talk about the different ways to set it up in your particular circumstance. Please let us know and we’ll do our best!.
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!