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financing a dental clinic

Thread: financing a dental clinic

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  1. magnificentstars said:

    financing a dental clinic

    Hi. I wanted to help my nephew with his plan of putting up his own dental clinic. Do you know how much capital would he be needing? I don't want to ask him because I'm planning to surprise him on his birthday. I will not of course shoulder all the expenses (lol) but perhaps I could share minimum of 5k usd. I'll be applying a personal loan for this and i'd like to get some ideas about the interest rate. I heard about credit unions and that their APR are much lower compared to regular banks. What are your thoughts about credit unions?
     
  2. windysheet said:
    Sorry, I do not have any idea about the total costs of putting up a dental clinic. Perhaps, it will costs that much and you will be needing enough cash. About getting a personal loan, I've known that a credit union can give a low interest rates on loans because they are a nonprofit compared to banks.
    Last edited by windysheet; 04-24-2017 at 05:30 AM.
     
  3. RileyWiley said:
    I'm new here, so I don't really know how it works here. I hope you won't mind me jumping in the conversation here. First, I'd like to say that if you qualify to make a loan from a credit union, that would be your best option. The good thing about credit unions is that even if you have bad credit personal loans are not going to be impossible. There are also banks that will let you borrow money for an investment and I think they also offer a different rate for business investments.

    Also, when you are starting a business, you do not need to put up the full amount right away.
     
  4. magnificentstars said:
    Thanks everyone! I followed your advice and checked our local credit union, California Coast. And it's true that they have better rates. Now I just have to check my credit score to see if I'll be able to get the advertised interest rate.
     
  5. Jefflewis said:
    Quote Originally Posted by magnificentstars View Post
    Thanks everyone! I followed your advice and checked our local credit union, California Coast. And it's true that they have better rates. Now I just have to check my credit score to see if I'll be able to get the advertised interest rate.
    Hoping you'll get the loan so that your nephew can put up the dental clinic! Keep us posted!
    Kevin Cook Orthodontics
    3108 W. Deyoung St., Suite A
    Marion, IL 62959
    cookortho.com
     
  6. CliffordUtley said:
    It would be better if you find a consultant for it.
     
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