When shopping for a bank, it is important to understand that ‘traditional’ banks require collateral for a loan in order that they have something to seize and liquidate in the event that a borrower defaults in payment. Therefore, it is normal and customary for the traditional lenders to request additional collateral over and above the assets of a dental practice as security for the loan. This ‘additional collateral’ takes the form of spousal guarantees and second positions on the residence.
For this reason, we recommend that you work with a ‘specialty lender’ that knows the business of dentistry and therefore does not require ‘additional collateral’. Through the years we have worked with a lot of specialty lenders and can advise you as to which specialty lenders best suit your purchase needs.
I would urge anyone to utilize Jean Fallago and her team, whether you are selling, looking to acquire an office for expansion or if you are ready to dive into private practice for the first time. Jean will be sure to match you up, so that your future success will be certain and stress free.
Dr. KoutrosElias Koutros DDS
Jean made what we had anticipated to be a very stressful event totally stress free. She was accessible 7 days a week and guided us every step of the way. She is a true professional.John Carrocia, DDS & Elizabeth Carrocia DDSCranston RI
"Selling a dental practice is at times a stressful, emotional rollercoaster ride. Jean and Paul Fallago provided the expertise and hand holding that was critical during the entire process. I highly recommend them for anybody considering this phase of their professional career."Ernest Corner, DMDWarwick RI
I have recently had the pleasure to have Jean Fallago of The ALmonte Fallago Group represent me in the sale of my dental practice and real estate. She is very knowledgable and did an outstanding job and made the negotiating of a complex situation occur quickly and effectivly. I would definetly recommend Jean to anyone looking to transition.Domenic N. Angelini DDSQuincy MA
As a buyer, I cannot thank Jean enough for what she did for me during what could have been a challenging process. She provided clear guidance and recommendations for my partnership buy-in which itself can be harder to tackle than others. I would recommend Jean to my colleagues without any hesitation.Rui Ma DMD
"I must commend Jean and Paul Fallago in the sale of my practice and of the real estate that accomompined it. Some routine obstacles arose during the selling process but were quickly resolved through the firm's efforts. The actual transition after the sale has been seamless. A great deal of time was spent with the potential buyers to ensure that the dynamics of personalities involved and philosophies of practicing dentistry were compatible.
In summary, Jean and Paul exude confidence in the transition process and were a tremendous asset to me."Mark DiLoretto DMDNew Britian CT
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