Ready to apply for your business loan for that Practice? or need some financing for that new Retina Optos? Dat and Aaron has partnered with these recommended to offer fast, flexible business loans or equipment financing designed for the unique needs of optometric professionals
Business Loan | Commerical Financing | Equipment | Merchant Services
Bank Of America Practice Solutions
No matter where you are in the growth of your practice, it’s important to choose the right financing. At Bank of America Practice Solutions, we’ve been helping medical professionals achieve their goals for more than 20 years.
Our all-inclusive financing covers all of your needs — from office design and equipment installation to training, supplies and even working capital. We offer the following types of loans:
Optometrist Loan: Up to $5 Million
✅ Cold Start-up | Practice Purchase Loan
✅ Express Equipment Loans & Upgrades
✅ Commercial Real Estate (Conventional and SBA) + Flexible Terms 7-20 Years
✅ Renovations | Expansion Additional Locations
✅ Merchant Services Directly by BofA.
✅ Primarily all our loans are conventional financing, but we also offer SBA financing if needed (conventional financing offers lower rates & faster closing)
✅ Flexible terms on loans between 7 – 20 years with industry low rates
Location Requirements: Eligible in all States
Contact: Michael Smith | Michael.Smith-11@Bofa.com | (480)-486-8912
Wells Fargo Business Financing
With over a decade of experience working nationally in the OD financing space, Darren Jackson has helped many optometrists nationally secure practice, equipment, and commercial real estate loans, business banking services, and merchant services. My value as an national optometric banker:
- Over a decade of experience working nationally in OD financing space.
- I’ve helped many optometrists nationally secure practice, equipment, and commercial real estate loans, business banking services, and merchant services.
- Excellent customer service
- Knowledge of the Optometric industry.
Optometrist Program | Services Offered:
Commercial real estate purchase loans up to 25 years fixed for existing buildings and ground up construction projects.
Cold start-up loan up to 10 years fixed
Practice acquisition loan up to 10 years fixed
Business loan refinancing up to 10 years fixed
Practice remodel, expansion, and additional location loan up to 10 years.
Practice Real Estate Conventional (non-SBA) loan for existing practice owners.
Loan is up to $1,000,000. Can be used for real estate purchase, real estate refinance, and real estate equity out loan.
Location Requirements: Eligible in all States
Contact: Darren Jackson | Email Darren.Jackson@wellsfargo.com | (571)-489-1100
Good vs. Bad Optometry Debt – 4 Ways to Use Good Debt to Your Advantage
That being said, debt can be a useful tool for achieving financial goals, but not all debt is created equal. Some debt can be beneficial, while others can be detrimental to your financial well-being. Let’s explore the difference between good debt and bad debt and how you can use debt to your advantage.
2022 in Review, and a Look at 2023!
It’s hard to believe, but the year 2022 has vanished in the blink of an eye. This past year, we’ve had the pleasure of seeing ODs on Finance continue to grow and help ODs on their financial journey, whether they be new grads or seasoned veterans. We are thankful for your attention, your questions and your contributions. Two tenets that hold paramount value to us at ODs on Finance are transparency and productive growth. In this letter, we will highlight how our community has grown, the various methods we provide value to our community, exciting new projects/acquisitions for 2023, and a look at our commercial interests/disclosures – trust us, you’ll want to read this! Here is a quick recap of 2022!
10 Things Your Optometry Lawyer Wants You to Know About
Putting yourself in the best position possible to be successful involves getting professional help, and an optometry attorney can be a vital part of your team of professionals.
Optometry Alliances/Buying Groups – Who to Choose and Why?
Dear ODs on Finance Members, Last week the OD community got some shocking news in their inboxes. One of the major players in the OD Alliance/Buying Group space – PECAA/HEA, was acquired by a large vision care plan which had recently rebranded. The acquisition was, well, met with extreme negativity. Doctors expressed chagrin that a company that…
Health Insurance Basic 101 That Every Optometrist Should Know
Whether you are a New O.D or Seasoned O.D ….healthcare is changing every year. Working in the medical field, I thought I understood how health insurance worked, until I ended up in the emergency room for two hours earlier this year. We will teach how to understand 6 key terms and how they apply to your health insurance (Premium, Deductible, Co-insurance/Co-pays, Maximum out of pocket, Benefit caps & understand network options (HMO, EPO, POS, PPO).
5 Tips for Growing a New Sublease Office
Building a new sublease office inside a retail store brings some unique challenges, but can be even more rewarding when you see your office thrive after years of hard work. Like any new business, attracting new patients may be a struggle at first. However, by engaging in a number of creative practices, I was able to grow this office from a patient base of zero to a thriving optometry office! Below, I will share the five strategies that formed the core of my success plan:
6 Tips for Utilizing Cost Benefit Analysis on a New Piece of Equipment
New equipment is always a temptation for practice owners, and for good reason. A cost-benefit analysis (or CBA for short) is a term derived from Lean theory and is an analysis of the expected balance of benefits and costs, including an account of any alternatives and the status quo. CBA takes into account your overall return on investment (ROI), however the approach is a little less black and white than might be expected. Let’s go through 6 important tips on utilizing CBA to its full extent in order to find whether that new piece of equipment should find its way through your practice doors.
3 Important Steps to Do Due Diligence For a Successful OD Practice Purchase
Purchasing a practice is an exciting yet daunting process for both new grad and seasoned optometrists alike. One of the reasons purchasing a practice is so daunting is due to the uncertainty that comes with becoming the new owner of an existing business….Due diligence methodology for purchasing an optometric practice has been nearly universally defined by prominent valuation experts in the field. This is the 3 methodology that we will be discussing.
8 Dos and Don’ts When Purchasing an Optometry Practice
Practice ownership is often heralded as one of the pinnacles of an optometric career. Having ownership of a practice often allows for higher income, and more importantly: freedom and autonomy to practice as one sees fit. In my career, I have had the privilege of buying my own practice as well as helping others through the buying process… So whether you are a newly minted graduate looking to begin your legacy, or you are a seasoned veteran looking to acquire another piece of your empire – use these points to help guide you towards your next big purchase.