Australasian Dentist Magazine Sept-Oct 2021

120 Australasian Dentist Finance PracticePurchase • CommercialProperty • GoodwillLoans • OverdraftFacilities • HomeLoans • CarLoans • Equipment&FitoutFinance • SMSFLending credabl.com.au 1300 CREDABL (1300 27 33 22) The issuer and credit provider of these products and services is Credabl Pty Ltd (ACN 615 968 100) Australian Credit Licence No. (ACL) 499547. “ “ Getting more from my finance partner, means my patients get more from me. Professional and personal finance solutions, tailored for you and turned around fast. When you partner with Credabl, you can expect all that and more. With a team of experienced finance specialists, we understand the dental sector so you can look forward to finance solutions that help you get on with business and looking after your patients. You always get more with Credabl. T wenty years ago, the bank offerings were virtually all the same whether you were a doctor, architect or milk bar owner. If you wanted to buy a business and needed a goodwill loan, you could only get an approval with a parent’s guarantee; a mortgage over your home; or a deposit of 20 to 30% of the purchase price. There was very little differentiation between lenders and most dentists would end up financing with their parent’s bank. The next evolution came when specialist medical finance arrived in Australia, and dentists were granted a direct line to credit approval simply due to their professional qualification and earnings capacity. This was a significant shift in the way the medical profession could access finance and many of the team at Credabl are proud to have been there from the beginning. At this point in time, it was possible to secure goodwill funding without the need for any parental support by way of guarantee or mortgage security. The finance often required a deposit and the loan to be repaid over five years and more dentists than ever before could purchase their own practice. While the five year term and fast repayment requirement was not seen as an issue back then because purchase prices were lower than they are today, it took about a decade before we saw loan repayments stretch over 15 years and often there was no requirement for a deposit. 100% finance. The permutations to now determine the best deal had to factor in rates, cash flow needs and available security. Again, the changes allowed many more dentists to consider ownership. Where we are today The next change, and perhaps one of the most significant, has created more opportunity for dentists to find a solution that works for them. Specialist finance is now on offer by almost every big bank, as well as dedicated financiers. The challenge From founding fathers to Credabl – securing the best deal for dentists By Craig Spiegel now becomes who is the best to deal with? Selecting a provider takes careful consideration. Is the provider independent or owned by a big bank? Needing to comply with APRA, ASIC and the possibility of royal commission requirements? How informed, truly, is the banker or consultant you’re dealing with about the unique needs of dentists? Are you assured an approval, but unsure if that approval equals best? At Credabl, we believe the only way to determine the best deal for you, is to deal with the best – someone who understands your profession, can navigate the lending landscape intimately, and who has your best interests. When you put our founding team of Stafford Hamilton, Paul Hastings and Craig Spiegel together with our leading team of Finance Consultants including Kelly Gall, Sandy Constanti, Deb Kiely, Simon Moore and Tony Kalmin (to name a few!), you can be confident you’ll be dealing with the best at Credabl. u

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