“The beauty of our TradeBridge facility is that my funds are ready,and I can access them quickly.”
Ashkan Pitchforth, CEO and Founder of South Cliff Dental Group.
Originally Ashkan wanted to become an artist but decided to use his creative abilities more profitably and whilst studying dentistry in London, he also developed a keen interest in the business and financial sector.
Using these skills in coalescence, Ashkan graduated and undertook his vocational training.
The first steps to acquiring a practice
When tendering for his first dental practice, Ashkan pursued the traditional funding route but was met with many challenges.
“We approached 13 high street banks, and lenders from 12 rejected us, there was only one Bank that would actually lend us the money.”
Ashkan acquired his first practice using an alternative funding method.
“We chose the route of unsecured lending; the interest was ridiculous.”
Acquisitions and the growth of South Cliff
Ashkan was made aware of TradeBridge through an introducer, once he secured funding, he used his facility in the acquisition of dental practices.
“With the usual conventional bank route, you have to approach the bank, you have to give them a business plan, you have to go through peer analysis, and even after that it can take months to get a decision.”
With this support in place, Ashkan has proven his entrepreneurial skills, having acquired 22 practices now in the South of England.
How TradeBridge can help
After Ashkan was introduced via a broker it was immediately apparent that a TradeBridge facility could compliment his current banking lines.
A TradeBridge working capital facility enabled him to be financially more agile in acquiring new practices for Southcliff.
TradeBridge gave Ashkan the advantage. The amount of funding he could leverage as well as the rate set TradeBridge apart from other lenders.
“I found that if you’re cash ready, sellers will select you as their buyer, and you may even get the price reduced. They will prefer you, rather than wait for someone who’s going to take nine months to complete the transaction.”
A TradeBridge facility can provide up to 3X monthly NHS income in additional funding to help dental businesses seize more growth opportunities.
“It’s great knowing that I can then replace those funds with the profit that the company is generating.”
A TradeBridge facility allows dentists to draw down as much or as little as they need when they need it, and make repayment based only on what they draw.
Ashkan currently uses the TradeBridge dental sector facility to acquire additional practices but there are no limitations on use. It can facilitate:
The build of a clinical environment for delivering new ancillary services
Investment in new technologies that improve services and increase efficiency
More than a ‘button click’
At Tradebridge our specialist advisors understand what dental practices need to be successful in business, you’re supported by people who live and breathe your industry.
ChiChi Osemwegie Business Development Manager
“Our consultant understood exactly what we were trying to do”
At TradeBridge you’ll be collaborating with real people whose goal is to help you succeed by understanding the levels and types of financing that will work best for your business.
“The portal is so easy to use and understand, it’s fantastic”
The simplicity, accessibility, and flexibility of a TradeBridge working capital facility has been recognised by many dental businesses.
Future of the Dental Sector
The sector is evolving with a greater focus on the business itself, and there has never been a better time for entrepreneurially minded professionals to build a thriving multi-practice dental business.
But when speaking to dentists and dental business owners like Ashkan, we have discovered a real need for business education in the sector.
“For younger dentists I think there should be an element in their course which teaches about business”
TradeBridge offers a streamlined source of working capital so dentists with little business experience can flourish.