North Texas Dentistry Volume 9 Issue 3 2019 ISSUE 3 DE - Page 15

g What is the transition plan expected as you enter the practice and the selling dentist exits? While the dental practice you are purchasing is an important part of the financing decision, your lender will also want to build a relationship with you. Understanding your personal financial history and future vision for the practice is critical. Understanding your personal work experience, procedure skill set in comparison with the subject dental practice, personal credit history and what your vision for the practice may be as you acquire it are all important components of building this relationship. Banks are very willing to lend to dental professionals. Histori- cally, healthcare and dentists have some of the lowest default rates in the nation. Plus, it continues to be a growing field with spending on healthcare at $3.8 trillion and on dental at about $124 billion annually. Likely, this will continue to rise as our population continues to age and also as our populations con- tinues to live longer lives. As you move forward in making this big decision, you will be wise to choose your business advisors carefully. Having a con- sultative, engaged relationship with your advisors, including your banker, is important and can save you time and money as you march towards making your dream a reality. It is important to understand which option is a good fit for you and your long-term goals on a holistic level. Effective communication with your banker through the acquisition of a practice is critical. Amanda Mombert Private/Professional Banking Relationship Manager Columbia Bank Amanda Mombert, Private/Professional Banking Relationship Manager in the national healthcare space, specializes in providing end-to-end counsel and support to healthcare clients, especially dentists. She does this by building and maintaining relationships with her clients and always searching for the strategy that works best for them. Amanda specializes in financing for dental practices – providing financing for practice acquisitions, buy-ins, expansions, debt refinance, equipment, and commercial real estate. She is known for providing consultative assistance to clients and guiding them through the entire loan process. She is deeply con- nected in the dental community and is well known for providing clients with all the resources and experts they need to make sound financial decisions. Amanda is a veteran banker with more than 14 years’ experience and is a graduate of the University of Oregon and the Western School of Commercial Lending. She has been an active volunteer with Junior Achievement and the national program “Teach Kids to Save”. Email: Ben Mombert Vice President Private/Professional Banking Officer Columbia Bank Ben Mombert, Vice President Private/Pro- fessional Banking Officer, is an expert in helping health care professionals achieve their financial goals through a number of different financing and banking solutions. Ben has a keen understanding of the cor- rect financing products and services that best suits the borrower’s needs, and is a connector for clients to find other dedicated professionals that specialize in the healthcare industry including; CPAs, attor- neys, appraisers, consultants, insurance brokers and more. Ben, a veteran healthcare banker of more than 13 years, is recognized in the industry as an expert in financing and banking for dentists (including associ- ated specialties pediatric, orthodontics, oral surgery, endodontics, periodon- tics, prosthodontics, other), as well as financing/banking for veterinarians, and financing/banking for optometrists. He is a graduate of the University of Oregon and has provided fundraising support for Mission of Mercy and the Dental Foundation of Oregon. Email: | NORTH TEXAS DENTISTRY 15