Conquer all stages of your practice
Whether you’re in dentistry, optometry, or another healthcare field, BMO gives you access to tools, knowledge, and professional networks to help you succeed in every step of your practice’s journey.
Start
We can walk you through the steps for preparing and planning for practice ownership, then work with you to secure financing and prepare for a successful launch.
We offer:
Consultation on start-ups or new business acquisition- Funding footnote 1 for purchasing your first practice, remodels, new equipment, access to working capital and more
- Advisory services for startup assistance and practice ownership
Grow
When it’s time to grow your practice – whether through purchasing new equipment, office expansions, or offering new services – we’ll help you pick the right path and strategy for meeting your goals.
We offer:
- Consultation on expansion planning
- Funding footnote 1 for practice acquisitions, partner buy-ins and buy-outs, new locations and more
- Introductions to our network of professional experts like attorneys, financial advisors, real estate brokers and more
Exit
Once you’re ready to enjoy the success of all your hard work, we’re here to make your exit easy. We will guide you through a smooth sale, then help you manage and enjoy the proceeds.
We offer:
- Full support and expert guidance throughout the entire process
- Access to concierge-level services and solutions via our Premier Services team
- Introductions to our network of professional experts that can help you with valuation, legal support and more
Interested in a full list of our services? Schedule a complimentary consultation today.
Flexible funding to support your healthcare practice footnote 1, footnote 2
BMO can help you get low rates on business lines of credit footnote 3 — and offer you flexible loan options — to get the money you need for your practice. footnote 4
Start a new practice or buy an existing one
Get a loan at a competitive interest rate to finance your growth
Invest in an office space, equipment, or renovations
Get financing to help make these bigger purchases possible
Refinance debt and manage operating expenses
Find business loans and lines of credit to help you meet your practice goals
Tools and resources
Not sure how much capital you need to get started, how to acquire the equipment you need, or which type of loan is right for you? These calculators can help you determine what’s best for your practice.
How much do I need to start a healthcare practice?
Should I buy or lease5 equipment?
What could my loan payments be?
Healthcare Banking FAQs
As an existing BMO customer, you can add banking solutions for your practice by opening a business deposit account at BMO and adding on other options like a loan. Your business deposit account(s) will remain separate from personal deposit accounts you may already have with us. A business deposit account can make it easier for you to manage business finances. Contact a business banker to open a business banking account.
You can apply for a healthcare practice loan by contacting a business banker. Learn more about business lending and loans at BMO to find the right lending solution for your practice.
BMO has a team of experts that works with medical, dental, optometry, and veterinary professionals. If you don’t see your industry included here, get in touch with a business banker to learn more.
The cost for starting a healthcare practice varies according to industry and the specifics of the business (for example, starting a practice from the ground up or acquiring an existing business). If you’d like to discuss your options, get in touch with a business banker.
The decision to buy or lease equipment or other expenditures for your practice will depend on your situation. Generally, leasing requires a lower upfront cost but may prove to technically be more expensive in the long run. On the other hand, purchasing equipment often requires more money up front but may prove to be less expensive over time. Connect with a business banker to discuss your options.
You can use our Business Loan Calculator to calculate the hypothetical cost of getting a business loan for your healthcare practice.
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- Footnote 1 details Total BMO credit exposure cannot exceed $1,000,000. Applicant total BMO credit exposure including the new application requested amount must be greater than $100,000 for a business loan request.
- Footnote 2 details SBA loans from BMO (“Bank”) are in participation with the U.S. Small Business Administration. Loans are subject to credit approval in accordance with Bank and SBA eligibility and lending guidelines and are for business purposes only.
- Footnote 3 details Annual fee of $150 will be charged to the line of credit beginning on the 12-month anniversary of the opening of the line of credit. BMO business customers who meet minimum deposit balance requirements at the time the line of credit is approved, may qualify for additional annual fee waivers.
- Footnote 4 details Applicants approved for a Business Line of Credit or Flex Loan must have a BMO business checking account opened before loan closing.
- Footnote 5 detailsAmerican Capital Financial Services, Inc., an authorized BMO third party service provider, offers leasing products and services independent of the Bank. American Capital Financial Services, Inc. is not affiliated with BMO, either by common ownership, management, control or otherwise. BMO makes no representations or warranties, either express or implied, of any kind with respect to any products and services made available or performed by third-party providers including, without limitation, those of merchantability and fitness for a particular purpose. Products and services made available by third-party providers are subject to the management and credit approval of such third-party providers. Please ask your BMO banker for information regarding American Capital Financial Services, Inc.