NewOfficeFinancing.com - Funding Ophthalmic Dreams & Reality

NewOfficeFinancing.com

If you’re starting a new ophthalmic office, showroom, lab or optical dispensary or bringing your existing office into the 21st century then you have a lot of decisions to make. Let NEW OFFICE FINANCING.COM, the experienced ophthalmic funding connection, help you professionally finance your eye care enterprise with the most seasoned consultants and competitive rates. Learn More...…

There are a number of things to consider when starting or upgrading your ophthalmic practice. Decisions that can have a significant impact on both your long and short term goals.

One of the most challenging decisions is how to get the capital to build the practice you want, today. Aside from private equity; friends, family, outside investors where you have to sacrifice a piece of the ownership…there are other options. The Small Business Administration (SBA), your bank, and specialty finance companies are all viable sources of capital to build your practice.

Below is a side by side comparison of the benefits of each option:

	SBA/Bank	NewOfficeFinancing.com

Rate	Variable for the term of the contract	Fixed for the term of the contract
Term	Up to 120 Months	Up to 120 months
Type of Collateral Financed	Typically real estate, equipment and fixtures	Equipment, fixtures, construction and design costs, debt refinance, real estate
Down Payment	Typically 10%	No down payment
Maximum Loan Amount	Up to $2MM depending on credit and collateral	Amount based on ability to repay
Turnaround Time	10 Days – 4 Weeks	As little as 1 – 3 days
Collateral Pledge	Collateralization required; i.e. cash, real estate, CD, etc	Typically not required
Fees	2% – 5% upfront	As low as $250

Section 179 provides a valuable tax deduction for small business. Using this tax deduction, eligible equipment purchases can be expensed in the year of purchase rather than depreciated over a preset number of years.

The Section 179 limit for 2008 is $116,000. Purchases up to this limit can be expensed. Any amounts over the limit should be depreciated according to IRS guidelines.

Our Finance Consultants will help you maximize this deduction.

For Example:

	Equipment Purchase	$150,000
	Section 179 Deduction	$116,000
	Balance Remaining	$ 34,000
	First Year Standard Depreciation (20%)	$ 6,800
	Left to depreciate over remaining years	$ 27,200
	Total First Year Deduction	$122,800

The above example is for illustrative purposes only and does not constitute tax or legal advice. Always check with your accountant or tax attorney to verify your eligibility for any tax deductions.

NewOfficeFinancing.com