{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Dental Acquisition Unscripted","title":"What You Need To Know Partnering w/ A Banker, for a Dental Acquisition","html":"","width":"100%","height":180,"duration":3263,"description":"Huntington Bank 🏦 is a regional bank based in Columbus, Ohio, with a history dating back to the post-Civil War era.1 In 2017, former employees from Mike and Luke's previous employer joined Huntington to develop a unique dental lending program. Luke has been working in dental lending for over 15 years. He describes the dental industry as resilient and constantly evolving, making his work engaging. CLICK HERE to schedule a phone call ☎️ with Luke to discuss your options! The conversation emphasizes that rates 📈 are complex and influenced by various market factors, not solely individual credit scores. They are tied to indexes like prime rate (influenced by the Fed) and ten-year treasuries (influenced by market demand).  Due to market volatility, the discussion stresses the importance of rate locks. A rate lock provides a ceiling on the interest rate for a specific period, protecting borrowers from potential rate increases.0:00 - Episode Introduction2:23 - Mike introduces Luke from Huntington Bank5:27 - Resilience of dental lending, Emphasizing the stability of the dental industry.7:18 - Understanding loan rates9:06 - Federal Reserve rate vs other indexes11:13 - How banks \"broker cash\" - Market demand determine loan rates.15:49 - The volatility of rates and the importance of rate locks.18:30 - Loan structure, importance over just looking at interest rate.21:53 - Defining \"loan structure\", term length, interest-only periods, and loan amount.23:09 - \"Practice Pulse\", offering post-loan support to new dental practice owners.28:34 - Loan amounts, particularly in the context of practice valuations37:53 - \"Modified startups\" or \"Jumpstarts,\" allowing for financial flexibility.40:28 - The challenges that come with owning a dental practice & profit margins48:57 -Trend of practice \"buy-ins\" & an \"incremental buy-in loan\" for a structured transition. Structure of a Loan vs. Interest Rate: The conversation shifts to the importance of a loan's structure. While rates are...","thumbnail_url":"https://img.transistorcdn.com/1GxkLz2dnhkImO61J6lFD1VjotypKiYWNjCnWFt8Mq8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzQ3MDg0LzE3MDA1/OTQ4OTEtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}