Steve Pratt

Friday 4th March: 12.00-12.45
A guide to gaining finance for your first dental practice purchase

Since the recession I have often been asked if we are still “open for business” and what a Bank looks for when considering lending requests. The answer to the first question is most certainly “yes.”  We continue to lend to the HealthCare sector. When assessing a request for finance, Lloyds, and indeed any Bank will look at a variety of things including:-

• Amount requested v cost –  is 100% finance being requested or is there a customer “stake”
• Life of asset v term of loan – normally loans are provided for the tangible lifetime of an asset
• The borrower – professional background / business experience and understanding / personal net worth
• Professional Support – are sector specialists advising ie Accountants – this helps build confidence
• The business – is there a good track record of profitability?
• Ability to repay – the key driver!
• Security – usually the last consideration!

I will be able to expand on all these areas which I am sure will provide support and guidance for all Dental professionals looking to either expand their existing Practice, buy into a Practice, or indeed start from squat.

Biography

Steve Pratt ACIB
Regional Head of HealthCare, Lloyds Banking Group

Steve is Head of HealthCare for Lloyds Banking Group responsible for the Banks Healthcare profile across the South and West of the UK. In his 30+ years for Lloyds he has worked in a variety of roles – primarily in the SME Market. He has built up a wealth of experience in the Healthcare sector over the past six years working with a number of Dental sector specialists in building the Banks profile as a major player in the provision of finance and banking solutions. He is married with three children and lists playing keyboards in a Band, and learning to fly amongst his many interests. Steve is Vice Chair of The Association of Specialist Dental Providers (ASPD).