Summary
Choosing the right patient financing provider is critical for dental practices, but misleading claims make it difficult. This comprehensive comparison exposes the truth behind Cherry’s misleading statements about their services versus competitors like Sunbit.
While Cherry positions itself as a low-cost option with fees starting at 1.9%, the reality reveals hidden costs up to 13.9%, patient fees including late charges and NSF fees, and a practice of deactivating offices for approving lower-credit patients.
In contrast, Sunbit offers truly inclusive approvals across all credit profiles, zero patient fees or penalties, transparent pricing with programs as low as 2.4%, and never penalizes practices for serving patients who need financing most.
This detailed analysis includes five comparison tables revealing approval rates, loan amounts, interest charges, and the real costs to each provider.
Key Points:
- Cherry’s Claims Exposed: Provided misleading statements about fees, approval rates, and loan amounts.
- Hidden Fee Comparison: Cherry charges $15 late fees, $15 NSF fees, and 2.99% credit card processing fees vs. Sunbit’s zero fees.
- True Approval Rates: Sunbit offers an inclusive 87% dental approval rate across credit profiles, while Cherry’s average credit score is 716.
- Practice Fee Reality: Cherry’s advertised 1.9% fee can actually reach 13.9% vs. Sunbit’s transparent 2.4% starting rate.
- Merchant Termination Risk: Cherry has deactivated thousands of practices, including some for approving too many patients with low credit profiles.Sunbit has never done this.
- Credit Score Approvals: Cherry is a prime lender with an average credit score of 716. Sunbit has high approvals across the credit spectrum.
- Interest Rate Deception: Cherry claims true 0% interest but in reality patients are hit with 29.99% late APR penalties vs. Sunbit’s 0% interest option and zero fees for all.
- Credit Check Comparison: Both use soft pulls, but only Sunbit is transparent about bureau reporting for opened accounts and payments.
Why Practices and Patients Choose Sunbit
Sunbit is the patient financing provider that office managers, treatment coordinators, and patients genuinely love. We’ll never drop you from our network because your patients don’t meet arbitrary credit criteria. We’re all about inclusivity, trust, and doing what’s right. Our advanced AI technology makes this possible, establishing us as leaders in the patient financing space.
Cherry may try to compete with misleading claims. Sunbit earns trust by delivering real results and staying true to what we promise. We’ve never made a dime off late fees, penalties, or deferred interest promotions from our healthcare partners. If you get the chance, ask Cherry if they can honestly say the same.
Cherry might look cheaper per transaction, but the real costs show up when patients are declined or when a provider is suddenly dropped from their network. Those moments hurt patient trust — and your practice.
Sunbit wouldn’t typically take this approach, but we’re all about trust and transparency. When another provider isn’t meeting the minimum criteria for trustworthiness, we feel it’s our duty to set the record straight. When comparing patient financing options, know the facts. Sunbit stands for transparency, reliability, and a better experience for every patient, every time.
The Real Comparison: Sunbit vs. Cherry
Let’s look at what Cherry claims about themselves, what they suggest about Sunbit’s suite of products for healthcare partners, and what the truth actually is.
Cherry’s Claims vs. Reality
Ready to partner with a patient financing provider you can trust?
Contact Sunbit today to learn how we can help your practice grow while treating every patient fairly.
Loans are made by Transportation Alliance Bank Inc. dba TAB Bank, which determines qualifications for and terms of credit.