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For more than 20 years, Watson Brown has lived by a core value to “take care of the dentists we work with and our associates”. This enduring value guides us as we face the difficult challenge of responding to the Coronavirus (Covid-19).
Our hearts, thoughts, and prayers go out to the people who have been affected by this unprecedented event, and we appreciate the healthcare workers, local communities, and governments around the world who are on the front line working to contain the Coronavirus. Please know that we are vigilantly monitoring the Covid-19 situation and are assessing the impact upon dental practices and the immediate concerns upon the transition and ownership of a dental practice.
In this context, we know a dental practice transition may not be foremost in your mind. However, recent developments by the Federal Reserve have dramatically changed our financial environment.
We have worked closely with several dental specific lenders to launch a refinance program for dentist with existing dental practice loans. In light of the Feds recent interest rate cut to support the economy during this Coronavirus pandemic, dental practice owners now have a rare opportunity to lower their current interest rate.
Dental practice owners with existing loans can now refinance their debt at an interest rate at three percent (3%) with no closing costs. We have never seen rates this low in our history, and Watson Brown is available to assist you in understanding, qualifying for, and obtaining a lower interest rate for refinancing of your dental practice debt.
Our economy will likely feel the financial impact of Covid-19 for some time after the Coronavirus is contained. For this reason, the Fed will most likely continue to support the economy with the unprecedented low interest rates for months, allowing for the continued economic recovery in the United States. Although many of us are unsure of the future, the goal for many dentists is to own their own dental practice, and ironically, this current unfortunate Covid-19 situation offers a rarely seen low interest rate opportunity for such ownership. It can take months to find the right practice, and up to six weeks or longer to close on the transaction. A buyer’s investment of time now in searching for a dental practice could be richly rewarded with interest rates at three percent (3%), and we will work with you to establish a timeline that makes sense for all the parties involved in the transaction.
We recognize that these are unsettling times and whether you own a practice or have considered practice ownership for the future, your first priority is you and your families safety and well-being as well as that of your associates and patients. We believe in spite of current significant adversity; tremendous opportunities await those who are prepared. Watson Brown stands ready to assist you during this window of opportunity for your practice refinance or transition. Please contact our office to discuss taking advantage of the unprecedented low interest rates on the refinance of your existing practice loan or acquisition of a practice, both at rates I believe we will never see again. As you consider your transition needs, we are available with open doors to serve and assist you in obtaining the lowest interest rates for dental practice loans.
The Watson Brown Team