Guest post by Nancy Maynard, Senior Vice President, First American Dental Finance
Moving to a new office or updating your existing space requires a tremendous investment of time and money. All too often, the tenant improvement allowance provided by the landlord does not cover the entire cost of the project. This leaves many practices with the challenge of determining the best way to pay for the remaining needs.
Keep your practice nimble.
If your project includes assets with a depreciable life greater than 10 years, a tax lease structure is the better-than-cash strategy you need to explore:
- Lower Monthly Payments – Save on total and monthly costs. Savings of this structure often outperform cash or traditional bank lines of credit.
- Enjoy Better Benefits – Increase your tax benefit while taking advantage of greater flexibility with end of lease options.
- Accelerate Your Savings – Expense the entire rental payment and realize your asset’s full value sooner. Reinvest these savings into your practice.
You may be surprised to discover the wide range of costs that can be financed during your office build-out. From dental equipment and furniture to flooring and design fees, 100% of your project costs can be conveniently rolled into one easy monthly payment.
Nancy Maynard is a Certified Leasing and Finance Professional who brings 12+ years of banking and finance experience to the First American team, working with dental organizations throughout the United States to offer equipment leasing and office expansion financing.