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Draw Down Facilities for Optometrists

Draw Down Facilities for Optometrists

The easy way to finance a practice set-up or improvement
Looking forward to setting up or making improvements to your practice? Did you know there’s a finance solution to help take the pressure of you during this busy time? Have you considered the option of financing your fit-out via a Draw Down Facility?

Medfin’s NSW Regional Manager, Luke Truscott explains the benefits of this option.

While your practice is being refurbished or in a set-up state, Medfin pays your supplier invoices by drawing progressive amounts from your Draw Down Facility. Not drawing the entire amount of your loan at once, helps to reduce the interest you pay.

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

There’s no need for you to use your own money or an expensive overdraft facility. It’s possible for you to finance all your practice set-up or improvements including: fit out, fixtures, fittings and equipment.

Once the refurbishment has been completed, the drawdown facility will be converted in a lease, commercial hire purchase or a loan.

Draw Down Facility:
(to finance progressive payments to various suppliers)
Feature Value to you
No repayments until your set-up is complete. No cash outlay during the loan term. You don’t pay for assets while they’re not producing income.
Medfin takes care of administration and payments. Saves you time. A running cost sheet is created and managed for you.
Separate funding line. Won’t tie up your cash resources.
Medfin pays the GST, you are only financing the cost of the goods. Saves you money.