TD Bank, Cherry Hill, NJ, is expanding its practice financing services for private dental practices with its new Healthcare Practice Solutions Group. The specialty lending division will underwrite loans up to $12 million for practices with revenues up to $20 million throughout TD Bank’s Maine to Florida service area.
The Healthcare Practice Solutions Group’s specialties include equipment loans, practice mergers/acquisitions, partnership buy-ins or buy-outs, real estate loans, and refinancing.
While TD Bank previously offered loans and financial products to healthcare providers within its small business bank, this new financing group will deliver specialized solutions and larger loans to support dental and orthodontic practices.
“Medical professionals have unique financial needs and circumstances, and it benefits practitioners to work with a bank that understands the healthcare business model,” said Dan Croft, head of Healthcare Practice Solutions, TD Bank. “Our team of experts can offer counsel to professionals from physicians just starting out, juggling medical school loans while setting up an office, to retiring dentists looking to sell or close their practice.”
TD Bank’s Healthcare Practice Solutions Group adds to the bank’s existing healthcare finance capabilities under its Institutional Healthcare Group, which provides capital and specialized expertise to large healthcare entities, including acute care (hospitals, academic medical centers, and health systems), long-term care (skilled nursing facilities and home care), and larger physician practices.
