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Common vet finance questions

Common vet finance questions

Frequently asked questions – vet finance
When it comes to finance for veterinarian practices there are three common questions that Medfin’s, Relationship Manager Jeremy Stagg is asked. Here’s a list of those questions and Jeremy’s response.

Question 1: I’m tired of renting. What special benefits do you offer me, for financing the purchase of my own practice rooms?

Answer: For approved applicants, Medfin can lend up to 100% on your owner occupied, commercial residence. We do not require lender’s mortgage insurance and don’t need you to use the equity in your family home as security for the loan.

Question 2: I’d like to purchase a residential investment property but don’t want to use the cash or the equity in my own home.

Answer: Medfin can lend approved applicants, a high percentage of your of your residential investment property, purchase price, without requiring mortgage insurance or another property as security.

Question 3: I want to refurbish my practice rooms but am concerned about the cost of some of the items.

Answer: If you’re looking forward to setting up or making improvements to your practice Medfin has the expertise to help. We remove the hurdles placed in front of your by traditional finance companies and offer you the option of financing via a Draw Down Facility.

While your practice is being refurbished or in setup stage, Medfin pays your supplier invoices by drawing progressive amounts from the Draw Down Facility. Not drawing the entire loan amount at once, helps reduce the interest you pay.

Repayments don’t start until your practice set-up is complete, so there is minimal outlay during your refurbishments*. And because Medfin makes invoice payments directly to your suppliers, our Draw Down Facility helps reduce your administration time.

There’s no need for you to use your own money or an expensive overdraft facility. Medfin can finance all your practice setup or improvements including; fit out, fixtures, fittings and equipment.