In today’s episode of The Art of Dental Finance and Management, Art visits with Justin Klingshirn, Vice President for Bank of America Practice Solutions. Justin and his team work with dentists in Southern California to help them obtain financing for practice acquisitions, start-ups, expansions and re-locations.
Justin discusses what is important for dentists to understand about their credit, and how their debt (especially student loan and credit card debt) affects their ability to borrow money. He outlines what dentists need to do to assure they are in the right place financially to be able to obtain financing to buy, start or expand a dental practice. Justin also goes through the formula banks use to determine how much money they will lend on a practice acquisition. He gives some great tips for young dentists who want to get started in practice ownership and what it takes to obtain financing if a dentist wants to own multiple practices. Justin is a wealth of information and this episode is important if you are a dentist interested in borrowing money.
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