Dentists, like other highly educated, intelligent professionals, often believe they can negotiate important legal documents, such as office leases, without any assistance from an attorney. The reasoning, I think, is that legal documents are written in English, so any smart, well-educated person who reads that document carefully can understand it. Unfortunately, there are many traps for the unwary in this approach. The purpose of this article is not to tell you this, in general terms (since I am sure you have heard it, many times, before), but, instead, to give you a few, real-life examples, to show you just how risky, and costly, this approach can be.
If you need financing for your dental practice, you should consider an SBA loan. In 2011, more than 53,000 new SBA loans for approximately $19.6 billion were approved by the United States Small Business Administration (SBA). Although these loans require a little more paperwork than conventional loans, the benefit to a small business, which often comes in the form of a better interest rate, can be considerable.