Before You Buy: The Financial Side of a Practice Transition

Last week's ADA Practice Transitions Coffee Talk webinar featured advice on preparing your finances for a practice purchase.

Rob Westhoven, VP and Director of Dental Banking for Androscoggin Bank, explained how banks approach practice sales, including several possible options. He also answered several great questions from attendees about how COVID-19 may change the equation. 

• 5 typical financing scenarios
• How banks typically evaluate loan applications — and how COVID-19 is changing this
• The differences between financing a startup, an acquisition, or a partner buy-in
• How to build a financing team and application package

Whether you are ready to buy or just thinking about your future, this session can help you prepare. 

Be sure to check out the rest of our ADAPT Coffee Talk series. See all upcoming topics and available on-demand recordings, including:

Selling Your Practice in the COVID-19 Era: Advice from Accounting Experts

How to Manage & Retain Staff During a Practice Transition

How ADA Practice Transitions Makes the Process More Predictable — and Successful