Access funds in a way that’s fast, easy to manage, and keeps your healthcare business running.
A Medfin line of credit is a fast and flexible way to cover unexpected expenses
Managing cash flow across staff, patient care, upgrades and fees is a tricky balance. And unexpected expenses and opportunities can crop up at any time. With Medfin’s Med-e-credit, you’ll have fast, flexible and convenient access to funds to cover operating expenses or provide working capital.
Applying for Med-e-credit is easy. Once the documents are signed, funds are available within two business days — because quick access to finance keeps your healthcare practice in good shape.
Benefits you’ll enjoy with a Med-e-credit facility
Variable interest rate
No set principle repayments
The funds are ready to use in two business days from signing your loan documents
Only pay interest on what you use
Generally, there is no security required²
Or choose a secured Line of Credit with your Commercial Property, for those times when you need a higher limit
Fast lending when you need it the most
We find the right financial solution for thousands of healthcare professionals each year. When you need fast access to funds, our finance specialists are just a phone call away.
Quick Tips on managing cash flow in your practice
Are you using capital reserves to fund equipment purchases or upgrades?
If the answer is yes, consider the advantages of finance solutions like commercial hire purchases, lease or that can spread repayments over a longer period and may provide tax benefits.
Med-e-credit and Line of Credit FAQ
How do I draw funds from my line of credit?
Can I transfer funds into different bank accounts each time I draw funds?
No, you will nominate and link a primary business account to your line of credit. You can change the nominated account at anytime by calling Client Services on 1300 728 718. This is to protect you and the security of your business credit limit.
The account name must match the name on your Medfin line of credit facility loan documents.
Do I need to provide any paperwork to link a bank account
To verify the account is linked to the right business bank account, we need
- Original or certified copy of a bank statement or cheque
- matching the name of the account
- and matching the name on your line of credit loan documents
Are there any fees on my Med-e-credit
Yes. There is a one off establishment fee of $475
and a monthly account maintenance fee of $10
All funds transfer requests received by 3pm (AEST) on a banking day will be processed overnight. Same day funds transfer option (RTGS) available; fees, charges, terms and conditions applicable. 2 Provided eligibility criteria are met.
All facilities with Medfin and National Australia Bank Limited are subject to eligibility criteria, credit assessment and approval. Terms & conditions, fees & charges apply (available upon request).
Because we do not know your personal objectives, please consider whether these products and services are appropriate for your circumstances. Before acting on any of the information on this website, please seek independent financial and tax advice.