The Medical Profession has long been a preferred segment for banking and finance.
There are a range of options for borrowing that fit a number of purposes. This can include established or new practices, working capital, acquisitions, property and other assets.
POTENTIAL BENEFITS & OPPORTUNITIES
Competition between financiers is strong, and a number of financiers have developed segments of expertise, that have developed into specialised health teams.
This builds greater performance insights and bench-marking in the industry, allowing financiers to take a stronger lending position compared with standard credit policy that applies in other lending scenarios.
Some of the funding opportunities available include:
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Lending of up to 95% of Market Value ("LVR") of Practice Premises (excluding Greenfield sites).
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Lending of up to 75% LVR for Practice Goodwill being purchased/established.
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Pre-Approval for Equipment Finance facilities - up to circa $350,000.
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Lending for working capital purposes on an unsecured basis.
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Lending of up to 100% LVR to purchase Owner Occupied Residential Property.
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Lending of up to 95% LVR to purchase Investment Residential Property.
Interest rates and terms are varied, based on the mix of facilities taken above.
MEDICAL PROFESSIONS INCLUDED
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Medical Doctors (General & Specialist)
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Dentists
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Veterinarians
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General Practitioners
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Physiotherapists
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Junior Medical Officers & Interns
CREDIT CRITERIA
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Borrowers must generally have three (3) years professional experience.
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Practice must meet performance standards (Interest & Debt Service Cover)
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Practitioners must be registered with relevant professional regulators.
For more information, or to talk about a scenario please contact us.
We have a diverse team that have dealt with a range of different funding scenarios in the medical industry.
e: commercial.finance@mcpgroup.com.au
p: (03) 9620 2001
w: www.mcpfinancial.com.au