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. |
About the author. Luke Truscott is the Regional Manger, NSW & ACT for Medfin. For further information Luke can be contacted on (02) 8837 2871
Important information: Because we do no know your personal objectives should consider whether this product is appropriate for your circumstances. Statements about future matters may not be realized and should not be relied upon. Approved customers only. Other terms and conditions apply. Fees and charges apply. Medfin's approval time frame is subject to credit assessment. *Medfin may require repayments before completion subject to your authorisation.
