Difficulty in obtaining practice loans

[Maybe.a.dentist]

I was curious to know how hard it is for recent graduates to obtain loans to purchase or start a practice nowadays. I've heared everything from it being near impossible to very easy. Of course, not everyone will have the speed or business skills to start for a while but I did get to wondering if that was even still a possibility for those who graduate competent enough.

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[Sanducan]

I've heard from couple very credible source that the maximum bofa and WF will give a new grad for a start-up is $325,000. If you're buying a practice it may be more, not sure though.

If you work 6m-1yr though, I believe they will give you $500k for a start-up with good credit.

I'm planning on taking that $325k and supplement it with an SBA loan or hopefully get tenant improvement monies.

 

[bjpenn]

1 year out of school - got 500k
3 years out of school- got 500k