What Orthodontists Need to Know About Financing Practice Growth

By Jill Allen | Hey Docs! Podcast with Chandler Wrightenberry, Live Oak Bank

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Whether you're purchasing your first practice, building a new office, or investing in commercial real estate, financing plays a critical role in turning your vision into reality.

Yet for many orthodontists, lending feels like one of the least familiar parts of the ownership journey.

In this episode of the Hey Docs! podcast, Jill Allen sits down with Chandler Wrightenberry, Vice President of Healthcare Lending at Live Oak Bank, to discuss what doctors need to know before pursuing a practice acquisition, expansion, or real estate project. Their conversation covers everything from today's lending environment to assembling the right advisory team and preparing financially for long-term success.

The biggest takeaway? Financing is about much more than securing a loan. It is about building a strategy that supports your goals for years to come.

Why Preparation Matters Before You Borrow

One of the biggest mistakes practice owners make is waiting too long to begin conversations about financing.

According to Chandler, the lending process works best when doctors begin planning well before they are ready to sign contracts or break ground.

Early conversations allow lenders to:

• Evaluate financial readiness
• Discuss project feasibility
• Set realistic expectations
• Identify potential challenges
• Build a financing strategy around long-term goals

Rather than viewing a lender as someone who simply approves a loan, Chandler encourages doctors to view them as strategic partners throughout the project.

💡 JA&A Insight
The earlier you involve your financial partners, the more options you'll have when important decisions arise.

Looking Beyond Interest Rates

Interest rates often dominate conversations about financing.

While rates certainly matter, Chandler encourages doctors to keep them in perspective.

One of his favorite phrases is:

"You marry the project and date the rate."

In other words, the right practice or real estate investment can provide value for decades, while interest rates will continue to change over time.

Waiting indefinitely for the "perfect" rate may cause doctors to miss opportunities that align with their long-term business goals.

Instead of focusing solely on today's rate, successful practice owners evaluate the overall strength of the investment.

Building the Right Advisory Team

Successful projects rarely happen because of one great decision.

They happen because the right people are involved from the beginning.

Chandler recommends surrounding yourself with professionals who understand healthcare and orthodontic practices, including:

• Healthcare lenders
• CPAs
• Consultants
• Architects
• Contractors
• Equipment specialists
• Commercial real estate professionals

Each advisor brings expertise that helps identify potential issues before they become costly problems.

The stronger the team, the smoother the process becomes.

Planning for Realistic Timelines

Every practice project takes longer than most doctors expect.

Whether purchasing an existing practice, renovating a building, or completing a ground-up construction project, delays are common.

Permitting, inspections, supply chain issues, financing approvals, and construction timelines all introduce variables that cannot always be controlled.

Setting realistic expectations early helps reduce stress throughout the project.

Practices that build flexibility into their timelines are often better prepared when unexpected challenges arise.

Financial Readiness Goes Beyond Credit Scores

Qualifying for financing involves much more than credit history.

Chandler explains that lenders also evaluate overall financial health, including:

• Personal liquidity
• Cash reserves
• Debt obligations
• Income stability
• Business performance

Maintaining healthy financial habits before beginning a project can significantly strengthen financing opportunities.

The goal is not simply qualifying for a loan.

It is positioning yourself to make sound financial decisions throughout ownership.

Why Practice Ownership Is a Long-Term Investment

One of the strongest themes throughout the conversation is perspective.

Buying a practice or investing in real estate is rarely about immediate returns.

These are long-term investments designed to support future growth, create equity, and strengthen financial stability over time.

When evaluated through that lens, financing becomes one piece of a much larger business strategy rather than an isolated transaction.

💡 JA&A Insight
The strongest financial decisions are made with the next decade in mind, not just the next interest rate announcement.

The Bigger Picture: Build Your Financial Strategy Before You Need It

Many doctors only begin thinking about financing once they have found the perfect opportunity.

By then, valuable planning time has already been lost.

Whether your goal is purchasing a practice, expanding locations, or investing in real estate, building relationships with lenders and financial advisors early creates flexibility and confidence when opportunities arise.

The practices that grow most successfully often spend just as much time planning the financing strategy as they do planning the project itself.

Frequently Asked Questions About Healthcare Lending for Orthodontists

When should orthodontists begin talking with a lender?

Doctors should begin conversations as early as possible, ideally before selecting a property or signing purchase agreements, to better understand financing options and prepare for the lending process.

What should orthodontists consider before purchasing commercial real estate?

Practices should evaluate project costs, cash reserves, long-term growth plans, financing options, timelines, and the expertise of their advisory team before making a purchase.

Why is building the right advisory team important?

Experienced lenders, consultants, architects, contractors, CPAs, and equipment specialists help practices make informed decisions and avoid costly mistakes throughout the project.

How do lenders evaluate financing applications?

Lenders typically review credit history, liquidity, cash reserves, debt obligations, income, business performance, and the overall strength of the proposed project.

Should orthodontists wait for lower interest rates before buying a practice?

Interest rates are only one factor in the decision. A strong long-term investment may still make financial sense even when rates fluctuate.

How can orthodontists prepare financially for practice ownership?

Maintaining healthy cash reserves, managing debt responsibly, improving personal financial health, and building relationships with lenders early all strengthen financial readiness.

Final Thought

Financing is about more than securing capital.

It is about creating opportunities.

When doctors prepare early, surround themselves with experienced advisors, and focus on long-term value rather than short-term market conditions, they position themselves to make confident decisions that support lasting practice growth.

Because the right financial strategy does not simply help you purchase a practice.

It helps you build the future you envision.