Medical Practice Loans

No, our finance solutions are also suitable for start-up medical practices, young healthcare establishments that are still growing their practice, and fully established practices. We help medical practices of all sizes reach their goals, so get in touch today to discuss your needs and requirements.

The length of the application process largely depends on the type of finance you require, how quickly you respond to the lender’s enquiries, and whether you have included all the required documents.

For example, we offer same-day finance for solutions such as our instant business loans, but longer-term finance, such as our commercial bridging loans, often takes 4 to 6 weeks to arrange.

The main documents we require for medical practice finance include:

• Business Plan: Outline your business and how the loan will be used.
• Financial Statements: Income statements, balance sheets, and cash flow statements.
• Tax Returns: Personal and business tax returns for the past few years.
• Bank Statements: Recent bank statements.
• Legal Documents: Business licences, registrations, and ownership agreements.

Yes, medical finance can be used to purchase or lease brand-new equipment, from diagnostic tools and imaging systems to surgical instruments. We can also help you access funding for purchasing used equipment.

Our solutions help you overcome the initial upfront costs that come with new, state-of-the-art items, enabling you to grow your operation whilst preserving your cashflow.

Repayment terms vary based on the type of finance, loan amount, and lender. Union Business Finance offers flexible repayment plans to suit your cash flow - please enquire with us to discuss precise repayment options.

Yes, refinancing or additional funding may be available for your medical practice, provided you’re in a stable financial position and demonstrate the ability to make timely repayments.