Does Wells Fargo Offer Financing for Dental Practice Purchases?

Yes, Wells Fargo absolutely offers comprehensive financing for dental practice purchases through their specialized Wells Fargo Practice Finance division. In fact, Wells Fargo Practice Finance is the only practice lender specifically endorsed by the American Dental Association (ADA) and approved by ADA Business Resources for practice financing, making them a standout choice for dental professionals.

What Makes Wells Fargo Practice Finance Special?

Wells Fargo Practice Finance isn’t just another lending department—it’s a dedicated division that exclusively focuses on healthcare professionals, including dentists, optometrists, physicians, and veterinarians. This specialized focus means they understand the unique financial challenges and opportunities that come with dental practice ownership.

The division was established in 2010 when Wells Fargo’s previous practice finance product, Matsco, underwent a comprehensive rebranding to create what is now Wells Fargo Practice Finance. This transition brought enhanced practice financing solutions specifically designed for medical professionals looking to achieve practice ownership.

Comprehensive Loan Options for Every Stage of Practice Ownership

Wells Fargo Practice Finance offers financing solutions for virtually every aspect of dental practice ownership. Their practice acquisition loans provide financing to purchase existing dental practices, with loan amounts up to $1.5 million for experienced dentists who have been licensed for more than 12 months, and up to $325,000 for new graduates in their first year of licensing.

For dentists looking to build from the ground up, Wells Fargo offers start-up practice loans with 100% financing for new practice creation. These competitive fixed-rate loans come with terms up to 10 years and include comprehensive support for building a practice from scratch. Equipment financing is also available for dental equipment and technology purchases, with flexible terms designed to accommodate cash flow needs.

Commercial real estate financing represents another significant offering, with loans up to $5 million available for building purchases. Wells Fargo provides 100% commercial real estate financing and supports construction and renovation projects. Additional financing options include practice expansion and relocation loans, debt consolidation and refinancing, practice equity loans for gap financing, and business lines of credit for cash flow management.

Key Benefits of Working with Wells Fargo Practice Finance

Wells Fargo Practice Finance holds prestigious endorsements that set them apart from general business lenders, serving as the preferred lender for members of the American Dental Association, American Animal Hospital Association, and American Medical Association. This industry expertise ensures they understand the unique aspects of healthcare practice ownership.

Unlike many traditional lenders, Wells Fargo Practice Finance recognizes that student loan debt is simply a cost of doing business for dental professionals. Their lending criteria focus on your ability to repay debt rather than penalizing you for accumulated educational debt, which is particularly important for recent dental school graduates.

Beyond just providing loans, Wells Fargo Practice Finance offers comprehensive support services including complimentary business planning tools and resources, practice management support and guidance, educational programs and workshops, recommendations for professional service providers and vendors, and project management coordination for paperwork and vendor payments.

The lending process is streamlined with a simple online application that takes less than 10 minutes to complete, followed by a response within one to three business days. As a National Preferred SBA Lender, they can process SBA loans faster than non-preferred lenders, and dedicated Practice Finance Specialists guide clients through the entire process.

Financing Terms and Requirements

For new graduates in their first year of licensing, Wells Fargo offers a maximum loan amount of $325,000 for practice acquisition or start-up, with 100% financing available requiring no down payment. Importantly, student debt is not considered a negative factor in their lending decisions, recognizing the educational investment required to become a dentist.

Experienced dentists who have been licensed for 12 months or more can access larger loan amounts, with up to $1.5 million available for practice loans and commercial real estate financing available up to $5 million. These loans feature fixed-rate terms with competitive interest rates designed specifically for the dental industry.

General requirements include being a licensed dentist, maintaining good credit history, demonstrating repayment capacity, and providing a business plan for start-up practices. The requirements are tailored to understand the unique financial profile of dental professionals rather than applying generic business lending criteria.

Additional Financial Services

Wells Fargo Practice Finance provides a full suite of banking and financial services designed specifically for dental practices. These services include business checking and savings accounts, patient financing solutions through Wells Fargo Health Advantage, business credit cards and credit card processing, Practice Management Group support for loans over $300,000, and Milestone programs for ongoing practice development. This comprehensive approach means dental professionals can manage all their banking and financing needs through a single institution that understands their industry.

How to Get Started

Getting started with Wells Fargo Practice Finance is straightforward and designed to minimize the time investment required from busy dental professionals. The process begins by completing their online financing request form, which takes less than 10 minutes to fill out. Within one to three business days, a Practice Finance Specialist will contact you to discuss your specific needs, whether for acquisition, start-up, or expansion. They will then work with you to develop customized financing solutions tailored to your practice goals. Alternatively, you can call them directly at 1-888-652-4942 to speak with a specialist immediately.

The Bottom Line

Wells Fargo absolutely offers robust financing for dental practice purchases, and their specialized approach makes them uniquely qualified to serve dental professionals. With their ADA endorsement, comprehensive loan products, industry expertise, and understanding of the dental profession’s financial landscape, Wells Fargo Practice Finance has established itself as a leader in dental practice financing.

Whether you’re a new graduate looking to buy into an existing practice or an experienced dentist ready to acquire your own practice, Wells Fargo Practice Finance offers the financial solutions and support services you need to achieve your practice ownership goals. Their combination of competitive financing terms, industry recognition, and comprehensive support makes them an excellent choice for dental professionals at any stage of their career. The fact that they are the only practice lender endorsed by the American Dental Association speaks to their commitment to serving the dental community and their understanding of the unique challenges and opportunities in dental practice ownership.