Delta Dental of California has added an additional $100 million in loan funding for dentists affected by the ongoing COVID-19 pandemic.
The loan program was first announced in April as part of a partnership with digital lender Lendeavor. The newly launched second phase of the partnership adds new ways that providers can use the funding, including for the following:
- Practice acquisitions
- Expansion to new locations
- Purchasing commercial real estate
- Purchasing new equipment
- Building out practices, including making investments to meet new health and safety standards
- Refinancing existing practice- or real estate-related debt
Delta Dental will cover the first 12 months of interest on the loans, the company noted. The program is open to dentists in the insurer's independent provider network across 15 states and the District of Columbia.
