MCP Financial Resources and News

Medical Practitioners & Finance

Written by Jennina Espiritu | Sep 8, 2020 11:39:57 AM

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:

  • Lending of up to 95% of Market Value ("LVR") of Practice Premises (excluding Greenfield sites).

  • Lending of up to 75% LVR for Practice Goodwill being purchased/established.

  • Pre-Approval for Equipment Finance facilities - up to circa $350,000.

  • Lending for working capital purposes on an unsecured basis.

  • Lending of up to 100% LVR to purchase Owner Occupied Residential Property.

  • 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

  • Medical Doctors (General & Specialist)

  • Dentists

  • Veterinarians

  • General Practitioners 

  • Physiotherapists

  • Junior Medical Officers & Interns

CREDIT CRITERIA

  • Borrowers must generally have three (3) years professional experience.

  • Practice must meet performance standards (Interest & Debt Service Cover)

  • 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