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Lenders Offer Financial Checkups For Dental Professionals

February 21, 2018

By: Adam Lervik - Commercial Banking Officer, Peoples Bank | Puget Sound Business Journal

Adam Lervik - Commercial Banking Officer, Bellingham Commercial Banking Team
Adam Lervik - Commercial Banking Officer

As a lifelong Whatcom County resident, I value that this community truly is a place where “everyone knows your name.”

While attending college at Western Washington University, I got my first job working as a bank teller. In this role I came to understand that most customers want a relationship with a banker built on familiarity, trust and performance – someone who understands where they are in life and can help them achieve their financial dreams.

As a commercial banking officer at Peoples Bank, I began working more with physicians and dentists and realized that, just as in banking, the experience they aim to provide goes well beyond delivering expert medical care. After all, who wants to just sit in a chair for 30 minutes and have their teeth worked on by a machine?

They want to go a clinic where the dentist and hygienist know their family, ask about their last vacation, and make the experience as easy and pain free as possible. That’s what creates customer loyalty and contributes to long-term business success.

Whether you’re operating, merging, buying, or selling a dental practice, here are a few ways your bank can get you closer to your financial goals.

Keep up with the times

A banker should be instrumental in helping dentists take their practice to the next level. This may require an equipment purchase, operatory expansion, or real estate acquisition. Financing can support this growth, including the purchase of equipment, furniture, and fixtures needed to get the new space patient-ready. As technology becomes more accessible, dentists are increasingly requesting equipment financing for items such as intraoral scanners, CAD/CAM machines, and digital imaging equipment. More and more, general practitioners are also integrating full practice management software solutions into their businesses. This streamlines their processes, improves accuracy, and is a win-win for the dentist and the patient. Dental practices need to keep up with these rapid changes, and a banker can help. Read more...