Seen as a key sector at United Kapital, an ever-growing number of dental practices from across the United Kingdom have been utilising its Merchant Cash Advance to grow their business in a number of diverse ways.
The dental profession is experiencing growth and change with a market trend pushing for private treatment from an image conscious generation.
New services such as teeth whitening and implants have given practitioners room for growth.
With this shift comes a need to update treatment rooms, skill levels, new equipment and advertising through modern channels such as social media.
With the accessible finance being offered by United Kapital, dentists can receive anything from £3,500 to £150,000, and the money can be used for any purpose.
The defining aspect of the United Kapital’s Merchant Cash Advance is the way in which businesses repay it.
Repayment is quick, easy and not as stringent or rigid as traditional loans.
There’s no payment schedule or deadlines.
The repayments are made through a fixed and pre-agreed percentage of your patients’ credit and debit card payments.
So, every time your patients pay with a card, a percentage, between 5-15%, is taken to automatically pay off the advance.
Essentially, the more credit/debit card payments your practice takes, the quicker you repay your advance.
What’s more, once you have repaid over 50% of the advance, your business can apply to top-up.
Dentists have found this particularly useful for investment opportunities such as refurbishment.
It is obviously vital to keep your dentistry practise in a modern and updated state, but this can be difficult to achieve without investment and the right cash flow.
With a £10,000 cash advance, for instance, you can modernise and refurbish your premises without the worries that traditional bank loans entail.
Case study: Ray Pabla, Didsbury Dental Practice
Discovering United Kapital: Ray found United Kapital when he was searching online for an alternative finance option, he wanted funds to help with some business projects he had planned.
United Kapital’s appeal: when Ray was asked what attracted him to United Kapital, he said: ‘What appealed to me most was the fact that I could use my card machine in order to pay back the funding, I much preferred this to paying back a monthly sum like you would if you went to the banks.’
The application process: ‘The application was very straightforward, I felt that the staff who dealt with my initial claim were very helpful and guided me through the whole process.’
Helping businesses: Ray put his finance to good use, using it for the purchase of equipment as well as carrying out general repairs and updating his surgery.
He said it has ‘absolutely’ made a positive difference to his business and he would describe the service overall as ‘very good.’
Ray said he would definitely recommend United Kapital’s cash advance to others.
United Kapital has helped many dentistry practices like the one above, as well as restaurants, bars, shops and cafes achieve the business goals they set with a helpful merchant cash advance.
Refurbishment is another popular area you can improve your business using its finance, but there is also staff training, vehicle purchase, or even opening a second location – all achievable with the right investment.
Contact United Kapital today for more information on this alternative form of lending, or click here.