Delta Dental of Iowa Launches $2 Million Loan Fund to Support Dental Practice Ownership

Delta Dental of Iowa has announced a new $2 million revolving loan fund designed to help Iowa dentists establish or acquire private practices, with a particular focus on increasing access to care in rural communities. The initiative aims to address financial barriers that dentists face when starting or buying a practice.

Loan Fund Details

Administered by the Iowa Area Development Group (IADG) and its subsidiary, Development Partners Network (DPN), the Delta Dental of Iowa Revolving Loan Fund will offer loans ranging from $50,000 to $500,000. These loans will carry a fixed interest rate of 1% and have repayment terms of five to 10 years. Licensed Iowa dentists purchasing an existing practice or establishing a new private practice with up to three locations are eligible to apply.

Addressing Access to Care

Priority will be given to applicants in counties designated as high priority under the Fulfilling Iowa’s Need for Dentists (FIND) Project, which identifies areas where access to dental care is most limited. This focus reflects Delta Dental of Iowa’s commitment to improving oral health access across the state.

Addressing Financial Hurdles

According to Delta Dental of Iowa President and CEO April Schmaltz, the fund is intended to bridge a financing gap. “We have heard from dentists that down payments to secure full financing to build or purchase a private practice can be a hurdle to ownership,” Schmaltz said. “We want to support Iowa dentists in their long-term success by helping them bridge that gap.”

Partnership and Expertise

The IADG brings significant experience to the administration of the fund. “IADG has decades of experience managing revolving loan funds both directly and in partnership with other professional organizations,” said Bruce Nuzum, president of IADG. “We are excited to grab this next step with our partner Delta Dental of Iowa to support private dental practices, promote successful ownership transitions and startups, and ensure that dental offices can continue serving communities statewide.”

Broader Impact

The loan fund is expected to serve multiple purposes, including supporting business succession planning, attracting dentists to communities in need, and expanding private practice options in rural areas.

More information about Delta Dental of Iowa can be found on their website: https://www.deltadentalia.com/

Details about the loan fund can also be found on the Corridor Business Journal website: https://corridorbusiness.com/delta-dental-of-iowa-launches-2-million-loan-fund-to-support-dental-practice-ownership/