At LDF we are helping dentists meet the rising demand for specialist equipment to make sure their practices remain competitive. Our research has found that there has been a 76% increase in the amount of money loaned by dentists to their own practices in the last year – mostly in order to attract more private clients asking for treatments such as dental implants and cosmetic dentistry.
The money loaned by dentists to their own businesses in the last year has risen to £23.8 million, up from £13.5million a year earlier.
At LDF we don’t think dentists should need to take the risk of lending to their own practices. Working with a leasing provider and investing through asset finance can provide a manageable solution to funding.
Peter Alderson, our Managing Director, says: “Dentists are still facing challenges in accessing funding through traditional methods, so more of them are ploughing their own income and savings into their practices.”
“However, dental practices are very often partnerships, and if a problem arises with another partner it’s risky to have personal savings on the line – not to mention the fact that the money will not be available for personal use in the meantime.”
We at LDF are working with dentists to put effective investment plans into action quickly, providing clients with a decision in an average of just four hours, one of the quickest turnaround times in the asset finance industry.
Peter adds, “A key advantage of leasing for businesses is the predictability it can offer them. A quick decision and immediate funding means that dentists can focus all their efforts on delivering the services that patients want, rather than waiting with their plans on hold.”
We believe that after a long period of economic uncertainty, dentists are now keen to move forward with investment. At LDF we are delighted to help with that by providing the profession with more funding than ever.
Source: Companies House data.