TD Bank is expanding its services for private medical, dental, and veterinary practices with its new Healthcare Practice Solutions Group.
While the bank previously offered loans and financial products to healthcare providers within its small business bank, this new financing group will support dentists, orthodontists, oral surgeons, and other healthcare practices.
The group will underwrite loans of up to $12 million for practices from Maine to Florida with revenues up to $20 million, according to the company. It will focus on equipment loans, practice mergers/acquisitions, partnership buy-ins or buy-outs, real estate loans, and refinancing.
"Professionals have unique financial needs and circumstances and it benefits practitioners to work with a bank that understands the healthcare business model," stated Dan Croft, head of healthcare practice solutions for TD Bank, in a press release. "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."
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