Medical & Dental
Loan purpose |
Available for the purchase of goodwill and related business equipment within a Medical or Dental practice.
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Suitable Borrowers |
Doctors, Dentists or other medical specialists with a minimum of 3 years private practice experience.
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Mortgage Insurance |
Not Applicable
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Loan Amounts |
Minimum amount is $250,000 and there is no maximum.
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Maximum LVR |
100% of the purchase price
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Loan Term |
Max loan term is 7 years noting our preference is to match the loan term with the term of the practice leasehold if not owned
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Interest Rate Options |
Variable or 1, 2 or 3 year Fixed Rates. Rates will vary subject to the overall strength of the applicant and the practice cash flows.
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Repayment Options |
Principal and Interest or 1 year Interest Only then amortised |
Valuations |
Generally not required, we fund off the Contract of Sale noting a break up of goodwill and equipment costs.
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Additional Security |
If the borrower is a company we shall require a Fixed and Floating Charge together with guarantees of all associated entities and directors.
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Lending Guidelines |
Practice must have been established for a minimum of 3 years and trading profitably. All applicants are required to hold Life and Disability insurance.
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Establishment Fees |
Are payable and by negotiation.
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Exit Fees
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Nil |
Real Estate Funding |
Is additionally available for the purchase of commercial property that is owner occupied and small commercial property that will be used for tenant income and partial owner occupation. Loans to 95% up to $500k or 90% $501k to $1m will be considered. Loans over $1m for the purchase of commercial freehold are assessed on a case by case basis.
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In order to obtain an interest rate for this product please call 1800 801 999.
